<Li> Nottingham City Transport </Li> <P> In 2009, the Government of the Islamic Republic of Afghanistan formed the Afghan Public Protection Force (APPF) as a "state owned enterprise" subordinate to the Ministry of the Interior . By Presidential Decree, the APPF is mandated to replace all non-diplomatic private security companies by 20 March 2013 to become the sole provider of pay - for - service security contracts within Afghanistan . </P> <P> After 1949, all business entities in the People's Republic of China were created and owned by the government . In the late 1980s, the government began to reform the state - owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state - owned enterprises were privatized and went public . There are a number of different corporate forms which result in a mixture of public and private capital . In PRC terminology, a state - owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company . State - owned enterprises are mostly governed by both local governments' SASAC and, in the central government, the State - owned Assets Supervision and Administration Commission (SASAC) of the State Council . However, some state - owned enterprise were governed by China Investment Corporation (and its domestic arm Central Huijin Investment), as well as under the governance of Ministry of Education for the university - run enterprises, or some financial institutes that were under the governance of the Ministry of Finance . </P> <P> As of 2011, 35% of business activity and 43% of profits in the People's Republic of China resulted from companies in which the state owned a majority interest . Critics, such as The New York Times, have alleged that China's state - owned companies are a vehicle for corruption by the families of ruling party leaders who have sometimes amassed fortunes while managing them . </P>

What is a state owned enterprise in china
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