State-Owned Giants: Sixty Turbulent Years of the Republic's Eldest Sons

Who are they? What hardships and triumphs lie in their past? What does the future hold for them? And why are they now facing so much doubt?

As a vital part of China’s economic reforms, state-owned enterprise reform has stumbled forward for more than a decade. People once had high hopes and good intentions for these enterprises, yet they seemed to stray further and further from those expectations. Today, state-owned enterprises continue to grow larger and stronger, becoming industry behemoths, but have also found themselves at the center of criticism over monopolies and competing with the public for profits. At the same time, they remain the last line of defense for economic sovereignty, competing on the world stage with multinational corporations. Neither blanket criticism nor unqualified praise is appropriate. So how should we view state-owned enterprises? Where will their reform lead?

Drawing on years of close observation and case studies, the author of State-Owned Giants: Sixty Turbulent Years of the Republic’s “Eldest Sons” explores the subject through both history and current realities. The book traces the origins and evolution of state-owned enterprises and their path of reform, recounts their historical mission and present-day value, and offers a distinctive perspective on their prospects and future in an era of sweeping economic change.