Public-private joint venture

Japanese: 公私合営 - こうしごうえい

An advanced form of state capitalism adopted in China as a transitional economic system from capitalism to socialism. It contrasts with the elementary form in which private enterprises trade with state-owned enterprises. There are individual joint ventures in which the state invests, dispatches officials, and manages capitalists and enterprises, and more developed forms of industry-specific joint ventures that include all regional industries. Capitalists receive shares and interest and participate in enterprise management. After the reorganization and reform of public-private joint ventures, interest is abolished and they are merged into state-owned enterprises.

Source : Heibonsha Encyclopedia About MyPedia Information

Japanese:

中国で資本主義から社会主義への過渡的経済制度としてとられた国家資本主義の高級形態。私企業が国営企業と取引する初級形態に対する。国家が投資し幹部を派遣し資本家と企業を管理する個別的合営と，より発展した形態の地域的な全業種を含む業種別合営がある。資本家は株と利息を受け企業管理に参加。公私合営の再編成と改革後，利息を廃止し国営企業に合併。

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