중국 국유기업제도 개혁에 관한 역사적 접근

A Historical Review of the State-owned Enterprise System Reform in China

The reform of state-owned enterprise system has been the most important part of the reform program as a whole in China, since December 1978 when she had proclaimed economic system reform together with open-door policy. And it is generally accepted that the system reform in China has been quite successful comparing with those of other former socialist countries in so-called eastern Europe. Since 1992 China has begun to experiment a reform of economic system, which is thoroughly different from that had been done before in terms of not only macro level but also micro one. The focal point of this new reform program is introducing a market for property rights combined with a capital market. According to the new reform program, China has been executing three major reform program as a millenium project in the sectors of state-owned enterprise system, financing market and governmental organization that are closely interrelated one another in the viewpoint of governance structure of state enterprise system. This paper tries to review all the reform process of state-owned enterprise system in China since 1978 when she starting economic system reform. For the analysis, governance structure approach has been applied to this paper together with ser-M approach, which suggested by Cho & Lee(1995). This paper suggests that the process of reform for chinese enterprise system is on the verge of drastic change in terms of governance structural reform from power delegation to limited corporation. The proclamation of market economy including capital and properties ones would make it possible for China to reform the state-owned enterprise system into contemporary limited corporate system. The reform of labor market which not only external but internal one including CEO s, also could play a very important role as a pushing factor for the state-owned enterprise reform. The characteristics of the state-owned enterprise reform process which stepwise and try error-based one make it possible for China to minimize the transaction cost of selecting a reform product for the state-owned enterprise system thru learning mechanism.