Yes i know that. Which is why i find it baffling that most of them on here dont understand this simple fact. Seems mkst members here are too into the ultra nationalistic bubble that they will disregard eventhe mlst obvious fact. Lol
Anyway, as you said the government isnt under any pressure ro push or reform in SOE/capital/financial market which they themselves hae been talking about for so long. They are dragging their foot on this due to several reasons most of which is the CCPs fear of not having everything under their absolute control. However , they forget that competitive markets dont work that way. Except they want ALL CHINESE COMPANIES TO BE STATE OWNED and privste companies to be dissolved or suppressed to a minimum just like in the old maoist days. However, that's not feasible. The fact that not one single non Chinese company that i can think of has choosed to list on a Chinese stock exchange shows just how far behind their capital markets are relative to the West or even Hong kong/Tokyo. Thats even more surprising judging by the fact that the country is a rising power with healthy growth. Plus the fact that their stock market is dominated almost exclusively by state owned companies who are all controlled/directed by the state shows how uncompetitive this sector is.
So i dont see how they can avoid reforms in this sector in the long term.
As i said before , the only way i see them taking bold moves to finally reform tjis sector is when they will face a crisis. Just like in the late 70s when they had to take dramatic radical reforms due to tge terrible financial and economic crisis tge country faced after the disastrous cultural revolution. As i said before, sometimes its actually good when you face crisis since it wakes you up from complacency/passivity and forces you to face your fears and enact much needed reforms.
