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A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation.SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce.
The United States federal government chartered and owned corporations operate to provide public services. Unlike government agencies such as the Environmental Protection Agency, the Bureau of Indian Affairs, or independent commissions, such as the Federal Communications Commission, the Nuclear Regulatory Commission, and others, they have a separate legal personality from the federal government.
There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably. The defining characteristics are that they have a distinct legal form and that they are established to operate in commercial affairs.
Private parties entering into a contract with one another (i.e., commercial contracts) have more freedom to establish a broad range of contract terms by mutual consent compared to a private party entering into a contract with the Federal Government. Each private party represents its own interests and can obligate itself in any lawful manner.
SOE mergers have been routine since 2000. [39] Beginning in 2003 with Hu Jintao's administration, the Chinese government increasingly funded SOE consolidation, supplying massive subsidies and favoring SOEs from a regulatory standpoint. [40] These efforts helped SOEs to crowd out foreign and domestic private sector competitors. [40]
A house number plaque marking state property in Riga, Latvia. State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party. [1]
On a local and regional level, public transport is often operated by SOE, such as BVB (Berlin), Hochbahn (Hamburg) or LVB (Leipzig). Power generation, water and gas supply were until the 1990s often publicly owned (Stadtwerke) - the picture is much more diverse today, involving often forms of PPP, but with the local governments still exercising ...
Head of government: Li Qiang; Congress Chairman: Zhao Leji; Conference Chairman: Wang Huning; Commander-in-chief: Xi Jinping; Politburo Standing Committee longest-serving members; Related systems. Unified power; Democratic centralism; Collective leadership; Organization Department; Elections; Civil service