同濟大学 TONGJI UNIVERSITY The Starting Point 1978,China's industry was made up of thousands of simllar,publicly owned organizations. urban and middle- 95%of output Rural sized enterprises Collectives Urban very small firms <5%of output Collectives SOEs multiplant not exist corporatlons 2 2 The Starting Point The Starting Point The Starting Point The Starting Point • 1978, China's industry was made up of thousands of similar, publicly 1978, China's industry was made up of thousands of similar, publicly 1978, China's industry was made up of thousands of similar, publicly 1978, China's industry was made up of thousands of similar, publicly owned organizations. owned organizations. owned organizations. owned organizations. % of Industrial Output (1978) % of Industrial Output (1978) % of Industrial Output (1978) % of Industrial Output (1978) 77% 14% 9% SOEs Urban Collectives Collectives Collectives Collectives Rural Collectives Collectives Collectives Collectives urban and middle- urban and middle- urban and middle- urban and middle￾sized enterprises sized enterprises sized enterprises sized enterprises > 95% of output > 95% of output > 95% of output > 95% of output very small firms very small firms very small firms very small firms < 5% of output < 5% of output < 5% of output < 5% of output multiplant multiplant multiplant multiplant corporations corporations corporations corporations not exist not exist not exist not exist