Scott Kennedy
One clear goal of China is to be a high-tech leader, and one indicator is to be a leading exporter of high-tech products. Historically, most high-tech exports have come from foreign-invested enterprises (FIEs), both subsidiaries of multinationals as well as Chinese-foreign joint ventures. In the 2000s, such firms accounted for well over 80 percent of China’s high-tech exports. In 2011, in fact, they accounted for 84.2 percent of high-tech exports.I’ve not looked at this data for a while, and I was curious to what extent the pattern has changed under Xi Jinping. As everyone knows, over the last decade Chinese policies have given greater support to state-owned enterprises (SOEs), giving rise to the idea of “state ahead, private back” (国进民退, guojin mintui). Private companies have only episodically received state support, and in fact, for the last year and a half there has been a massive crack down on private Internet services firms.
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