摘要
Introduction Since the initiation of reform and opening up policy in 1978,China’s state-owned enterprises(SOEs)have undergone progressive corporatization.In the meantime,they have expanded their business overseas,chiefly through reverse engineering and international exchanges.These actions have taken the form of Chinese-foreign joint ventures in China,to encourage outward foreign direct investment(OFDI),the execution of cross-border mergers and acquisitions(M&As),and the integration of global resources and technology and market resources.Reform promotes growth,and opening up fosters innovation.
