Jiang Zemin's Reform Agenda
RESTRUCTURE STATE ENTERPRISES
Speed up a program to convert state enterprises, which account for a third of industrial output, into corporations owned by shareholders. Government ownership could even be reduced to minority stakes.
STRENGTHEN FINANCIAL MARKETS
Dramatically expand the size of capital markets by authorizing hundreds of new stock listings annually in Shanghai and Shenzhen and establishing a modern regulatory system to ensure the integrity of these exchanges.
SELL STATE ASSETS
Allow government bodies to sell off all but 1,000 of China's 305,000 state enterprises. Companies that can't be sold will go bankrupt.
BUILD SOCIAL SERVICES
Accelerate worker retraining, build low-cost housing, set up pension programs, and create other social services to relieve burdens on state enterprises and care for millions of workers who may lose their jobs.
Reduce average tariffs to 17% in October and 15% by 2000 as part of China's bid to join the World Trade Organization.
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