同海大学 TONGJI UNIVERSITY From 1996 Through the Present Sep.1997,15th Communist Party Congress: "grasping the large, attentions were focused on the largest, typlcally centrally controlled firms -and letting the small go" great arthority was given to local government to restructure /privatize/close down their own firms .massive downsizing of state sector,tens of thousands of SOEs and urban collective firms were shut down,laid-off workers totaled 40%of the SOE workforce ,and >2/3 that of the urban collective.5 From 1996 Through the Present From 1996 Through the Present From 1996 Through the Present From 1996 Through the Present • Sep.1997, 15th Communist Party Congress: Sep.1997, 15th Communist Party Congress: Sep.1997, 15th Communist Party Congress: Sep.1997, 15th Communist Party Congress: •massive downsizing of state sector, tens of thousands of SOEs and urban massive downsizing of state sector, tens of thousands of SOEs and urban massive downsizing of state sector, tens of thousands of SOEs and urban massive downsizing of state sector, tens of thousands of SOEs and urban collective firms were shut down, laid-off workers totaled 40% of the SOE collective firms were shut down, laid-off workers totaled 40% of the SOE collective firms were shut down, laid-off workers totaled 40% of the SOE collective firms were shut down, laid-off workers totaled 40% of the SOE workforce ,and >2/3 that of the urban collective. workforce ,and >2/3 that of the urban collective. workforce ,and >2/3 that of the urban collective. workforce ,and >2/3 that of the urban collective. "grasping the large, "grasping the large, "grasping the large, "grasping the large, •and letting the small go" and letting the small go" and letting the small go" and letting the small go" attentions were focused on the largest, attentions were focused on the largest, attentions were focused on the largest, attentions were focused on the largest, typically centrally controlled firms typically centrally controlled firms typically centrally controlled firms typically centrally controlled firms great arthority was given to local great arthority was given to local great arthority was given to local great arthority was given to local government to restructure government to restructure government to restructure government to restructure /privatize/close down their own firms /privatize/close down their own firms /privatize/close down their own firms /privatize/close down their own firms