Social Sciences in China (Chinese Edition)

No.1, 2014

Quantitative Estimation of the Leading Position of China’s Public Ownership and Its Developmental Trends

(Abstract)

Pei Changhong

Taking the operating assets of diversified forms of ownership of the means of production as the marginal criterion for measuring their relative dominance, this article estimates the asset scale and changing share of public and non-public ownership in primary industry and extends the estimation of these factors to secondary and tertiary industry on the basis of earlier estimations. The results show that the total operating assets of China’s primary, secondary and tertiary industry were around 487.53 trillion yuan by 2012, of which the assets of the publicly owned economy accounted for 258.39 trillion yuan, or 53 percent. In secondary and tertiary industry, the value-added and employment share of the non-publicly owned economy accounted for 67.59 percent and 75.20 percent of the total respectively. This indicates that while China’s publicly owned assets retain the leading position, the contribution of the non-public ownership economy is dominant. Chinese socialism’s fundamental economic system is a dynamic one, and thus provides theoretical foundations for ownership reform and the policy of adhering to the “two non-vacillations” in the primary stage of Chinese socialism.