Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

Implications on Increasing Number of Bankruptcies of Private-Owned Enterprises in China

Authors
Mingji Chen1, *
1Adam Smith Business School, University of Glasgow, University Ave, Glasgow G12 8QQ United Kingdom
Corresponding Author
Mingji Chen
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.029How to use a DOI?
Keywords
State-Owned Enterprise; Private-Owned Enterprise; Unemployment Rate; Market Share; GDP Contribution; Technological Innovation
Abstract

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.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.029How to use a DOI?
Copyright
© 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  -