“guo jin, min tui,” or “the state advances, the private sector retreats.”

“guo jin, min tui,” or “the state advances, the private sector retreats.”

Saying by Chinese business owners when talking about State Ownership of Industries in China.

Good article - China Fortifies State Businesses to Fuel Growth - NY Times

With the exception of Singapore, most state run companies have not done that well. And with the state owned businesses increased political power, will this change?