Abstract
It was an inevitable result to choose “public ownership as the dominant form with development of various forms of ownership side by side” in the course of China’s economic reform toward a market-oriented economy. At the core of the theoretical foundation of the choice lies the understanding of ownership. Increasingly deepened understanding of ownership has gathered some consensus in theoretical studies of it; however, there have been always inaccurations of certain sorts in the understanding of the basic economic system in the primary stage of socialism up until now. These inaccurations have not only caused confusion in the society, but hindered the establishment and perfection of the basic economic system in the primary stage of socialism as well. These mistakes are closely associated with the economic development in and outside China, as well as with individual pursuits and beliefs.
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Ma and Ling (1998). The first article of “Ten Thousand Words” was entitled “Several Problems Affecting National Security”, the second, “Preliminary Study on Domestic and International Situations and Major Threats of National Security in the Next Two Decades”, and the third, “Several Theoretical and Policy Problems about Persisting the Public Ownership as the Dominant Form”.
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Li et al. (2010).
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Hu (2010).
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ROTA here refers to the ratio of a company’s total profit and tax in a given period to its average total assets during the same period (including fixed net assets and circulating assets). The indicator reflects the overall earnings of a company and its contribution to the national revenue.
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Xu (2011).
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xinhuanet, SOEs Made a 2.4 Trillion Profit in 2013.
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On April 15, 2009, the provincial government of Shanxi issued Notification on Further Speeding the Merger and Reorganization of Coal Mines (Jin Prov. (2009) Bill 10). The bill adjusted the goal of operating mines from 1500 to 1000 and the size of enterprises, in terms of annual production of coal, from 300,000 tons to 900,000. The implementation of the policy actually forced large numbers of small mines to close or be incorporated into big ones, however, it was heavily questioned and criticized since the government did not compensate the owners of the small mines according to their market values or through negotiation.
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Rises of the Renminbi also contributed to the rise of per capita GDP aside from the economic growth.
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© 2019 China Social Sciences Press and Springer Nature Singapore Pte Ltd.
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Pei, C., Yang, C., Yang, X. (2019). Inaccurate Understanding of the Basic Economic System in the Primary Stage of Socialism: Reasons and Countermeasures. In: The Basic Economic System of China. China Governance System Research Series. Springer, Singapore. https://doi.org/10.1007/978-981-13-6895-0_1
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DOI: https://doi.org/10.1007/978-981-13-6895-0_1
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