SOE reform

    With many of the smaller and more inefficient¹ SOEs already closed, the government now has to tackle the behemoths, the country's largest employers. The number of laid-off SOE workers is expected to hit 12 million this year.

The non-state sector²

    China has made several moves to encourage the non-state sector in recent months. As China prepares to enter the WTO, private firms may gain more opportunities to participate in the capital markets. Parts of the service sector may also be deregulated.

    Employment In 1999, urban registered unemployment was 3.1 percent. Official unemployment figures do not include the rural population, the floating population, or the millions who are technically³ unemployed⁴, but still on SOE payrolls⁶. Independent analysts⁷ estimate that when these populations are included, China's unemployment rate reaches double digits⁸.

    WTO preparations aside, the PRC economy is facing several years of high unemployment, stubborn overcapacity, industrial and agricultural restructuring, and slower growth than that of the early 1990s. The prospect¹¹ of WTO membership gives the country's leaders an added impetus¹² to implement¹³ reforms. Implementation¹⁴ will be difficult, and will almost certainly meet resistance, especially at the local level. Nevertheless, reform will progress, if slowly, and China will continue on its path to full integration¹⁵ with the world economy.

 

SOE=state-owned enterprises国有企业

reform n.改革

inefficient adj.效率低的, 效率差的

tackle vt.应付(难事等), 处理, 解决

behemoths n.巨兽, 庞然大物

employer n.雇主, 老板

lay-off v.解雇, 停止工作

laid-off SOE workers国有企业下岗工人

capital market资本市场

deregulate v.解除管制

employment n.雇用, 工作, 职业

urban registered unemployment城市登记失业（人数）

official unemployment figures官方失业人数

rural population农村人口

floating population流动人口

payroll⁵ n.薪水册

estimate v.估计, 估价, 评估

double digits两位数

scenario⁹ n.an outline or a model of an expected or a supposed sequence of events预料或期望的一系列事件的梗概或模式

stubborn adj.难应付的, 难处理的

overcapacity n.too great a capacity for production of commodities or delivery of services in relation to actual need生产能力过剩：与实际需要相比，过大的生产工业商品能力或过多的服务

industrial and agricultural restructuring工农业结构调整

impetus n.推动力, 促进

implementation n.执行

resistance n.反抗, 抵抗, 抵抗力

full integration with the world economy与世界经济全面接规.

integration n.the act or process of integrating结合的行为和过程

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