Qiu Shi, a magazine of the CCP Central Committee, published an article that accused the West of giving Chinese state-owned enterprises (SOE’s) a bad name. The article claimed that there has been a recent wave of propaganda in the West suggesting that the Chinese government subsidizes SOE’s. This practice introduces unfair competition into international trade and hurts China’s trading partners. However, the author attempted to justify the dominance of SOE’s in the key industries by referring to existence of SOE’s in the history of Western capitalism. The author expressed that the West just does not feel happy about the fact that some Chinese state-owned companies are too large and too successful for them to be able to compete. The article concluded that China should keep backing these companies.
Source: Qiu Shi, May 10, 2012