Implications on Increasing Number of Bankruptcies of Private-Owned Enterprises in China
- https://doi.org/10.2991/aebmr.k.220307.029How to use a DOI?
- State-Owned Enterprise; Private-Owned Enterprise; Unemployment Rate; Market Share; GDP Contribution; Technological Innovation
Since the Reform and Open-up, private-owned enterprises (POEs) contribute dramatic growth to China’s economy. This paper analyzes the importance of private-owned enterprises in China. This paper aims to make all-around comparisons between private-owned firms and state-owned firms by comparing government policies on them, GDP and tax contribution by them, Job Provision by them, and Technological Innovations from them. After researching on these aspects, it found that POEs contribute more to economic growth, provide more job positions, and achieve more technological innovation with relatively unfavorable government policies, compared to state-owned enterprises (SOEs). In short, POEs are operating at higher efficiency than SOEs and contributing more to people’s daily lives. Therefore, the government may need to come up with more ideas on supporting POEs to help the economy recover from the damage brought by the Covid-19 pandemic. Besides, technological innovation helps China gain international competitiveness and be in a better position in the trade war.
- © 2022 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Mingji Chen PY - 2022 DA - 2022/03/26 TI - Implications on Increasing Number of Bankruptcies of Private-Owned Enterprises in China BT - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) PB - Atlantis Press SP - 190 EP - 194 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.220307.029 DO - https://doi.org/10.2991/aebmr.k.220307.029 ID - Chen2022 ER -