Abstract
After three decades of reform, China's state-owned enterprises have become powerful entities economically and politically, while remaining relatively inefficient and often monopolistic vis-à-vis the private sector. Their expansion in the aftermath of the global financial crisis has further squeezed the space of development for non-state sectors. The prospect of reform is now coloured with uncertainty as regulatory, legislative and political means have failed to rein in the politically well-connected large centrally managed SOEs.
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