Private enterprises in China are overwhelmingly small family-run businesses. The situation is similar to Vietnam. According to the Global Family Business Research Center:
The government decided to adopt the policy of “zhuada fangxiao” (grasp the big, release the small), which resulted in waves of mergers of larger state-owned enterprises and privatization of the many smaller and less efficient enterprises outside the commanding heights of the economy that the government saw as too costly to maintain or supervise. Consequently, the state-owned enterprises that remain have been consolidated to be much larger in size in terms of total assets but significantly smaller as a percentage of total enterprises in the country. China's centrally-administered state-owned enterprises hold total assets of nearly 69 trillion yuan.
According to the US-China Economic and Security Review Commission regarding the public sector's contribution to GDP in China:
Private enterprises in China are overwhelmingly small family-run businesses. The situation is similar to Vietnam. According to the Global Family Business Research Center:
The government decided to adopt the policy of “zhuada fangxiao” (grasp the big, release the small), which resulted in waves of mergers of larger state-owned enterprises and privatization of the many smaller and less efficient enterprises outside the commanding heights of the economy that the government saw as too costly to maintain or supervise. Consequently, the state-owned enterprises that remain have been consolidated to be much larger in size in terms of total assets but significantly smaller as a percentage of total enterprises in the country. China's centrally-administered state-owned enterprises hold total assets of nearly 69 trillion yuan.
According to the US-China Economic and Security Review Commission regarding the public sector's contribution to GDP in China: