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https://boards.4chan.org/g/thread/104046985

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A massive chunk of CN businesses are state-owned though, way moreso compared to the US.

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More than the US ofc yes, but a "massive chunk" no not really. And when they do own something they buy a like 2% share. From what I can see only 98 businesses in the entire country can be described as being "state-owned" and it's usually huge infrastructure companies like CNPC which handles petrolium. Also from these SOEs the number of them have gone down a lot and not up. in 2003 there were 196 and now there are 98. You can google State-owned Assets Supervision and Administration Commission.

The Chinese MO is much more about creating subsidies for an industry to make the barrier to entry as low as possible and then they let the companies eat each other alive, until there are like 5 really strong competitors.

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