By giving greater power to the party cells within every SOE, the new direction undermines efforts to establish boards of directors to push SOEs to make decisions based on market conditions, profitability and hard budget constraints.
It flies in the face of policies aired as recently as September to make SOEs more efficient and market-oriented. On Tuesday the International Monetary Fund recommended China create a task force that would help restructure debt-laden SOEs, in line with a government drive this spring to recognise and address industrial overcapacity.
Time to face facts: Albo is destroying Australia at lightening speed
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It’s time we face reality. The Albanese government must sacked at the first
available opportunity. I know the alternative is a corrupt bollard with a
tra...
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