Dominated by state-owned enterprises (SOEs) and mixed-ownership enterprises, the economy also consists of a large domestic private sector and openness to foreign businesses in a system described as a socialist market economy.

How much of China is privately owned?

Private influence on fixed asset investment is still lower at 65 percent in 2018, up from 42 percent in 1995. The Communist Party has been ruling China since 1949, but it is arguably a very different country today.

Is China privatized?

China is privatizing gradually by reforming state-owned enterprises into modern competitive companies. A wave of mergers and privatization of small enterprises has consolidated the number of state-owned enterprises (SOEs). Partial privatization means external shareholders help supervise SOEs.