Who owns the factors of production in China?

Answer 1

In China, the factors of production—land, labor, capital, and entrepreneurship—are primarily owned by the state, especially land, which is owned collectively by the state or rural collectives. However, private ownership has been increasingly permitted since the economic reforms initiated in the late 1970s, allowing individuals and private enterprises to own and manage businesses. The government maintains significant control over key industries and sectors, balancing state ownership with market-oriented reforms.