Study on the Allocation and Distribution of Dividends in Public-Private Joint Industrial Enterprises(1949-1966)
Public-private partnerships were the primary mechanism for the socialist transformation of capitalist industry and commerce in China.These joint enterprises were characterized by a dominant socialist component,with limited rights for private shareholders.The profit distribution system in these enterprises evolved significantly,transitioning from a complex"four-part profit-sharing"model to a simpler fixed dividend structure.Through gradual restrictions on capitalist profit shares,the state achieved a peaceful transition to socialism.In developing profit distribution policies,the government maintained a delicate balance.It sought to utilize,restrict,and transform national capitalism while still protecting private shareholders'interests.Notably,many capitalist industrialists and merchants cooperated with the Central Committee's directives.They reinvested their dividends and profits to support both enterprise growth and national economic development,playing a crucial role in China's economic recovery and advancement during this transformative period.
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