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By Population Census Office under the State Council and Department of Population Statistics, State Statistical Bureau, People's Republic of China

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Extra info for 1982 Population Census of China (Results of Computer Tabulation)

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Many other SOEs found that they could not proceed since their profitability and prospects were not sufficiently attractive. And still other SOEs decided not to even begin the process due to its expense, the amount of work involved, the social problems eventuating and the ready alternative of the domestic markets, which are significantly easier to access. This, and the reality that China does not have a large number of potentially attractive enterprises, accounts for the growth in so-called infrastructure companies and Red Chip conglomerates which, being entirely artificial, have none of the social problems of a true SOE.

20 It was not until mid-1993 that the Ministry of Finance enacted an accounting revolution for SOEs by requiring the adoption of general accounting principles based on International Accounting Principles (‘IAS’). Until that date SOEs did not even have an equity capital account available on their balance sheets (although SOEs already restructured as shareholding companies were meant to adopt a Western balance sheet and income statement as of mid-1992). Prior to 1993 Chinese SOEs had functioned as production units in a relatively centralized planned economy and accounting practices were oriented to suit the needs of compiling the national plan.

Perhaps 70 000 institutional investors which include primarily corporate accounts subject to a variety of shifting restrictions. China’s economy over the past 20 years has given rise to a great diversity of corporates many of which are active in the stock market. No systematic publicly available information exists as to the extent of this investor segment. Whatever might exist represents the proprietary knowledge of China’s securities firms. To provide a feel for the diversity of corporate investors, however, the following types of corporations participated in a recent IPO: SOEs, SOE holding companies, private companies, foreign-invested companies, rural credit unions and such entities as ‘investment’ or ‘development’ companies, which are most likely unregulated banks and money managers.

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1982 Population Census of China (Results of Computer Tabulation) by Population Census Office under the State Council and Department of Population Statistics, State Statistical Bureau, People's Republic of China


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