Global S&T Development Trend Analysis Platform of Resources and Environment
China’s state-owned enterprises and competitive neutrality | |
Alicia García-Herrero and Gary Ng | |
2021-02-23 | |
出版年 | 2021 |
国家 | 欧洲 |
领域 | 资源环境 |
英文摘要 |
As China’s economic weight continues to grow, so does the global impact of its companies. Chinese state-owned enterprises (SOEs) produce a large share of Chinese goods and services. Given their importance both in China and increasingly globally, it should be measured whether SOEs introduce distortions into markets and how significant those distortions are. Foreign governments negotiating trade or investment deals with China need this information so they can better measure how far China is from offering a level playing field to foreign companies on its domestic market. In this context, competitive neutrality is an important working concept that can be used to asses how far a market is from being a competitive environment. The Organisation for Economic Co-operation and Development defines a framework of competitive neutrality as one in which public and private companies face the same set of rules, and no contact with the state gives competitive advantage to any market participant. Quantifying the concept is difficult, but we provide a preliminary measure of the lack of competitive neutrality in relation to Chinese SOEs. In particular, we focus on debt and tax neutrality and compare the situation for Chinese state-owned and private firms on aggregate and sectoral levels. Our results support the view that China’s competitive environment is generally poor. The advantageous position of SOEs in China is true for most economic sectors, though to a variable extent, with the automotive sector one of the furthest away from competitive neutrality. A working measure of competitive neutrality applied in China could help improve the level playing field for foreign companies in China. It could also be applied globally given the very large size and global footprint of Chinese SOEs. The concept could even be introduced in a potential reform of the World Trade Organisation. |
URL | 查看原文 |
来源平台 | Bruegel |
文献类型 | 科技报告 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/317050 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | Alicia García-Herrero and Gary Ng. China’s state-owned enterprises and competitive neutrality,2021. |
条目包含的文件 | 条目无相关文件。 |
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