The issues at Hongcheng Machinery Factory had Nie Zhenbang furrowing his brow. It's long been the case that in the process of enterprise restructuring, there are no small matters. Governments at all levels take this very seriously because these issues are often the most prone to problems and incidents.
The main problems are twofold: on one hand, there's the placement of workers, and on the other, there's the issue of national asset dissipation and undervaluation.
It can be said that state-owned enterprise reform has always been a headache, whether for local or central authorities. Over the years, they've been exploring and searching, hoping to find an effective path for reform. Many methods have been tried, including factory technology upgrades, shareholding system transformations, and full transfers, among others. However, the final outcome indicates that, although there are many successes, there are also numerous failures, and the results are not always satisfactory.
