The owners of those public-invested private companies. The state didn't decide to buy a majority stake in company A over company B because company A was meritocratically superior; the state had a personal connection to the ownership of company A.
This is factually incorrect, or perhaps more generously: out of date. SOE market capitalization as a percentage of the total has been increasing for about two years now, and the CPC has stated their intention that SOEs will play a bigger role in the economy going forward.
> The owners of those public-invested private companies. The state didn't decide to buy a majority stake in company A over company B because company A was meritocratically superior; the state had a personal connection to the ownership of company A.
The CPC has nearly 100 million members. A hundred or so people who followed in the footsteps of their parents who were prominent party members in the past, does not make an "aristocracy." To compare this to a dynasty like the Rockefellers or the Rothschilds or the Astors is just beyond ridiculous.
