On the Historical Evolution of Ownership in China

Abstract

The issue of ownership is the fundamental problem related to the social nature of a country. The key to China's success in developing a market-oriented economy while pursuing the socialist path lies in its persistence and innovation in the reform of ownership structure. On the whole, the evolution of ownership structure in China can be divided into three stages as transition, exploration and breakthrough. It can be found that throughout the evolution course that China's ownership structure adjustment is a process with twists and turns and constant improvement, which is the inevitable result of consciously adjusting production relations according to the actual development of China's productive forces by the Communist Party of China, and also a successful model of the combination of Marxist ownership theory and China's reality. As China enters a new stage of development, the public sector, especially the state-owned sector, remains the backbone of the economy and society, while the non-public sector, especially China's private sector, will play an irreplaceable role more than ever before. We will continue to adhere to the "two unswerving" policies, continue to adjust and gradually improve the ownership structure, and encourage economic entities with different ownership properties to form synergy and jointly promote high-quality economic development.