State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies that the State Council and local people's governments perform the responsibilities of investors on behalf of the country respectively, including enterprises at the same level and enterprises formed by investment step by step under the supervision of central and local state-owned assets supervision and administration institutions and other departments.
State-owned enterprises have ownership or control over their capital, and the will and interests of the government determine the behavior of state-owned enterprises. State-owned enterprises are the backbone of national economic development and the pillar of Socialism with Chinese characteristics.
Status:
State-owned enterprises have a certain administrative nature. Due to historical reasons, the classification of state-owned enterprises is quite complicated. For the state-owned enterprises in China, those who invest or hold more than 50% of the state-owned assets are state-owned enterprises.
1978 before the reform and opening up, even at the end of the 20th century, state-owned enterprises were always supported and fostered by the government. The establishment of state-owned enterprises, in which a large part of government tax revenue is invested, has led to the establishment and emergence of a large number of state-owned enterprises. Some state-owned enterprises were transformed from the original government departments, such as China Telecom and China Mobile, which were originally the Ministry of Posts and Telecommunications, and later reorganized in the late 1990s and early this century.
China's state-owned enterprises are registered according to the Regulations on the Administration of the Registration of Enterprise Legal Persons in People's Republic of China (PRC), and the main body of assets investment is the state-owned assets management department, that is, state-owned enterprises.