User blogs
Normal nylon material cable television ties have been in existence
because the 1950s plus they haven not altered a lot in every that
period.Reusable cable television ties are ideal for an entire number of
work.Whilst low-resealable cable television ties are excellent a
single-time long term and semi-long term fastenings, resealable or
reusable cable television ties can be used as somewhat various work.
They are quick and simple to make use of,Hook and Loop Cable Ties they are affordable and you also wear not require any professional or possibly damaging resources to use them.Rapstrap is really a reusable cable television tie up that's ideal for a variety of daily work. The elastic cable television ties had been created instead of normal nylon material ties and assist significantly decrease squander.
A cutting-edge style, that was initially premiered on Dragon's Den, signifies that the cable television ties could be cut lower and re-utilized. Rather than tossing the cable television tie up tail within the container right after cutting it, it can be used to style another thing.Every Rapstrap generates about 5 typical size cable television ties. They can be used for a variety of purposes like fastening plants in the garden.Developed by kooky inventory Andrew Harsley, Rapstrap has become one of the most successful products to pass through the Den after it received ?ê150,000 of investment from James Caan and Duncan Bannatyne, and because they are soft.
These cable television ties possess a distinctive releasable securing system which make them helpful for a variety of reasons.The trademarked, releasable Fast Click on system supports as much as 888N of pressure (roughly 90kgs) and is also simple to manage even if you are putting on extra-large defensive safety gloves.SpeedyTie cable television ties can be used as a multitude of programs, such as in electric installs, ventilation and heatingconstruction, ventilation, exhibitions and trade fairs.
Velcro is a great short-term fastener. The self-attaching hook and loop system is easy to rip apart when you need to.The low cost system is incredibly easy to makes and apply it easy to organise and group your cables, even though it provides a bond that's strong enough for many purposes. They are ideal for cable television business and function excellent with entertainment techniques, workplace computer systems plus much more.Hilltop Items materials Velcro brand name cable television reusable cable television ties in 2 individual measures and also on a roll.
They are quick and simple to make use of,Hook and Loop Cable Ties they are affordable and you also wear not require any professional or possibly damaging resources to use them.Rapstrap is really a reusable cable television tie up that's ideal for a variety of daily work. The elastic cable television ties had been created instead of normal nylon material ties and assist significantly decrease squander.
A cutting-edge style, that was initially premiered on Dragon's Den, signifies that the cable television ties could be cut lower and re-utilized. Rather than tossing the cable television tie up tail within the container right after cutting it, it can be used to style another thing.Every Rapstrap generates about 5 typical size cable television ties. They can be used for a variety of purposes like fastening plants in the garden.Developed by kooky inventory Andrew Harsley, Rapstrap has become one of the most successful products to pass through the Den after it received ?ê150,000 of investment from James Caan and Duncan Bannatyne, and because they are soft.
These cable television ties possess a distinctive releasable securing system which make them helpful for a variety of reasons.The trademarked, releasable Fast Click on system supports as much as 888N of pressure (roughly 90kgs) and is also simple to manage even if you are putting on extra-large defensive safety gloves.SpeedyTie cable television ties can be used as a multitude of programs, such as in electric installs, ventilation and heatingconstruction, ventilation, exhibitions and trade fairs.
Velcro is a great short-term fastener. The self-attaching hook and loop system is easy to rip apart when you need to.The low cost system is incredibly easy to makes and apply it easy to organise and group your cables, even though it provides a bond that's strong enough for many purposes. They are ideal for cable television business and function excellent with entertainment techniques, workplace computer systems plus much more.Hilltop Items materials Velcro brand name cable television reusable cable television ties in 2 individual measures and also on a roll.
Cable ties are commonly used in the packaging industry,Stainless Steel Cable Gland for example to seal bags, secure an item to a support, bundle objects together or for security purposes.
The patent for the original cable tie was in filed in 1958 by American company Thomas & Betts (now part of ABB). Inspired by a solution used to organise large amounts of cabling in the wiring harnesses of large aircraft, and the flexible plastic tie straps have since been widely adopted. Their low production cost and ease of use has led to cable ties having many domestic and industrial applications, not limited to electrical cable management.
The rigid design of the traditional cable tie is intended to prevent any expansion or flexing of secured objects, however this can cause issues when supporting or displaying fragile products, such as plants or compressible tubing.
In these circumstances, a more sympathetic means of securing objects is required that provides sufficient retention but allows movement and retains the convenience of the original cable tie, so that, for example, growth or expansion is allowed for, and damage to the tied object is mitigated.
Cable management company, HellermannTyton, is at the forefront of innovation in this area and has recently been granted a patent which addresses the problems created by the traditional cable tie.Patent GB 2519141 describes a fastening tie (shown in the figures) with a flexible elongated strap (2) and locking sections (22) arranged along its length. A series of neck sections (24) interconnect with the locking sections, each of which has a slot through which a further locking section (22) passes when the strap formed into a loop. The neck section includes a dome-shaped projection (32) which extends from the upper and lower surfaces of the tie. The slots on the strap are expandable in height to allow the neck (24) to pass through, thus preventing damage to the article the fastener is tied to.
This patent is one of a number of applications filed in the UK and internationally in recent years by HellermannTyton, covering a range of ties, tools and cable management devices across various sectors. Building an Intellectual Property (IP) portfolio which both protects and expands the company's product range is a strategic initiative which makes good commercial sense, securing a strong position for the business.
The patent for the original cable tie was in filed in 1958 by American company Thomas & Betts (now part of ABB). Inspired by a solution used to organise large amounts of cabling in the wiring harnesses of large aircraft, and the flexible plastic tie straps have since been widely adopted. Their low production cost and ease of use has led to cable ties having many domestic and industrial applications, not limited to electrical cable management.
The rigid design of the traditional cable tie is intended to prevent any expansion or flexing of secured objects, however this can cause issues when supporting or displaying fragile products, such as plants or compressible tubing.
In these circumstances, a more sympathetic means of securing objects is required that provides sufficient retention but allows movement and retains the convenience of the original cable tie, so that, for example, growth or expansion is allowed for, and damage to the tied object is mitigated.
Cable management company, HellermannTyton, is at the forefront of innovation in this area and has recently been granted a patent which addresses the problems created by the traditional cable tie.Patent GB 2519141 describes a fastening tie (shown in the figures) with a flexible elongated strap (2) and locking sections (22) arranged along its length. A series of neck sections (24) interconnect with the locking sections, each of which has a slot through which a further locking section (22) passes when the strap formed into a loop. The neck section includes a dome-shaped projection (32) which extends from the upper and lower surfaces of the tie. The slots on the strap are expandable in height to allow the neck (24) to pass through, thus preventing damage to the article the fastener is tied to.
This patent is one of a number of applications filed in the UK and internationally in recent years by HellermannTyton, covering a range of ties, tools and cable management devices across various sectors. Building an Intellectual Property (IP) portfolio which both protects and expands the company's product range is a strategic initiative which makes good commercial sense, securing a strong position for the business.
vaporesso
2018 Annual Celebration held on 5th, Feb 2018 at Hilton Shenzhen Shekou
Nanhai. All staff members of Vaporesso attended this event by about 150
people. This huge event was dived into three parts: Commendation
Conference, Red Carpet Show and Appreciation Banquet.
With the opening speech of General Manager Simon, the Commendation Conference started. Simon summarized and praised the work of different functions in 2017, including R&D, Marketing and Sales, Production and Talent Development. He also pointed out the limitations and made prospect of the coming 2018. Meanwhile, "Excellent Staff" of 2017 were commended at the conference. At the end, different teams made their commitments of 2018.
As the music began, Simon kicked off the Red Carpet Show by first appearance, all staff were dressed up and walked down the red carpet. The impromptu speech of two hosts busted some sparkling aura of witty wisdom, not only enhanced the attractiveness of the show and enhanced their expectation of Appreciation Banquet.
The most anticipated activity – Appreciation Banquet started with the video of Customers’ Blessing. The performers presented a wonderful banquet with different shows: Singing, Dancing and Talent shows, the visits were immersed in a joyous atmosphere and the banquet was filled with waves of laughter and applause. In the meanwhile, with the lucky draw of happiness prizes, the banquet reached the climax. All managements were invited in the last show - < Unrestrained and Far-Ranging> by Beyond Band, which raised climax again. At the end of the banquet, General Manager Simon gave his blessing to all: just like the theme of this appreciation Banquet: Gather Strength and Forge Ahead, Happy New Year!
With the opening speech of General Manager Simon, the Commendation Conference started. Simon summarized and praised the work of different functions in 2017, including R&D, Marketing and Sales, Production and Talent Development. He also pointed out the limitations and made prospect of the coming 2018. Meanwhile, "Excellent Staff" of 2017 were commended at the conference. At the end, different teams made their commitments of 2018.
As the music began, Simon kicked off the Red Carpet Show by first appearance, all staff were dressed up and walked down the red carpet. The impromptu speech of two hosts busted some sparkling aura of witty wisdom, not only enhanced the attractiveness of the show and enhanced their expectation of Appreciation Banquet.
The most anticipated activity – Appreciation Banquet started with the video of Customers’ Blessing. The performers presented a wonderful banquet with different shows: Singing, Dancing and Talent shows, the visits were immersed in a joyous atmosphere and the banquet was filled with waves of laughter and applause. In the meanwhile, with the lucky draw of happiness prizes, the banquet reached the climax. All managements were invited in the last show - < Unrestrained and Far-Ranging> by Beyond Band, which raised climax again. At the end of the banquet, General Manager Simon gave his blessing to all: just like the theme of this appreciation Banquet: Gather Strength and Forge Ahead, Happy New Year!
The vaporesso
Sky Solo is the perfect pen-style starter kit for starters. It comes
with built-in 1500mAh battery and the most advanced OMNI Board Mini
chip, which provides excellent and product safety. The included tank
comes with 3.5ml e-juice capacity. The built-in GT meshed coil maximizes
interaction with the cotton, producing dense and flavorful clouds. It
is compatible with Vaporesso's GT series coils for great vapor
production and beautiful flavor. 4 colors are optional.
Vaporesso Sky Solo Starter Kit Details:
Built-in 1500mAh battery
Compatible with Vaporesso's GT series coils for dense and flavorful clouds
Advanced OMNI Board Mini chip ensures excellent performance
3.5ml e-juice capacity with convenient top filling system
Multiple extra protections for safe vaping
Vaporesso Sky Solo Starter Kit Details:
Built-in 1500mAh battery
Compatible with Vaporesso's GT series coils for dense and flavorful clouds
Advanced OMNI Board Mini chip ensures excellent performance
3.5ml e-juice capacity with convenient top filling system
Multiple extra protections for safe vaping
freemax twister kit
has made leaps and bounds as they were the first to introduce mesh
atomizers to the industry. Now they're entering the market with their
first kit ever. Check out the FreeMax Twister kit 80W.
The FreeMax Twister kit 80W is a variable stick style device that can adjust with just a 360 degree twist! The device features a built-in 2300mAh battery capacity that can adjust from 5W- 80W in increments of 5W with added 6-stage battery protection. The FreeMax Twister kit 80W comes in many graphically artwork inspired designs in six different eye-catching color options. The FreeMax Twister kit 80W also comes their newest Fireluke 2 tank which is exceeds the prior model in terms of coil options, capacity and functionality. The Fireluke 2 tank utilizes the newly modified X2 0.2ohm mesh coil (rated 40w-80w) and X3 0.15ohm (rated 50w-90w) mesh coil. Both coil options provide that extra power and satisfaction with immense flavor while lasting longer with their superb 90/10 flax and cotton formula. The FreeMax Twister kit 80W was engineered for simple functionality for novice users and veteran users alike.
The FreeMax Twister kit 80W is a variable stick style device that can adjust with just a 360 degree twist! The device features a built-in 2300mAh battery capacity that can adjust from 5W- 80W in increments of 5W with added 6-stage battery protection. The FreeMax Twister kit 80W comes in many graphically artwork inspired designs in six different eye-catching color options. The FreeMax Twister kit 80W also comes their newest Fireluke 2 tank which is exceeds the prior model in terms of coil options, capacity and functionality. The Fireluke 2 tank utilizes the newly modified X2 0.2ohm mesh coil (rated 40w-80w) and X3 0.15ohm (rated 50w-90w) mesh coil. Both coil options provide that extra power and satisfaction with immense flavor while lasting longer with their superb 90/10 flax and cotton formula. The FreeMax Twister kit 80W was engineered for simple functionality for novice users and veteran users alike.
freemax twister kit
with includes Twister mod and Fireluke 2 tank. Powered by 2300mah
built-in battery, it can fire up to 80W max output. Twister Kit features
twist-style variable wattage function and an LED indicator to tell you
the accurate conditions of itself. What's more, the Freemax Twister chip
enables it with the fastest firing speed which less than 0.01s. As for
the Fireluke 2 Tank, it features 5ml e-juice capacity and patented
slide-to-open top fill design. Specially adopts X2 Mesh and X3 Mesh
coils, it will offer a great flavor to us
1. With new design concept- Cartoon look design
2. Built-In 2300mah Battery
3. Fire Speed Like Rocket
4. Multiple Protections
5. Fire At Will With A Simple Twist(5-80w)
6. Patented Slide-To-Open Top Fill Design
7. 810drip Tip And 5ml Capacity
8. Porous Wood Pulp Cotton Formula
9. New Mesh Material And Structure
1. With new design concept- Cartoon look design
2. Built-In 2300mah Battery
3. Fire Speed Like Rocket
4. Multiple Protections
5. Fire At Will With A Simple Twist(5-80w)
6. Patented Slide-To-Open Top Fill Design
7. 810drip Tip And 5ml Capacity
8. Porous Wood Pulp Cotton Formula
9. New Mesh Material And Structure
SMOK NOVO Pod System Kit 450mAh
smok mico kit is a newly designed pod system device which looks a tiny whistle with cobra pattern at front and back and shining plating at the side, exquisite and convenient. Novo's mouthpiece is designed ergonomically, it can fit your mouth perfectly, giving you more convenience when vaping. Powered by a built-in 450mAh battery with replacement pod cartridge which can hold 2mL of any nicotine salt-based e-liquid. It can fire up from 10W to 16W power range to offer you stable and superior vaping. It has no fire key, no up/down button, no hassle of leaking, and the LED light battery indicator will inform you at low voltage, it's a perfect device for your relax time. Adopts an innovative air-driven system, this SMOK Novo Pod System Kit will produce massive cloud and you can discover more fun from every single puff. And inside there're two 2ml pods for your favorite e-juice. Available in 8 colors.
Parameters
Size: 88.3×24.3×14.3mm
Battery Capacity: 450mAh
Power Range: 10W-16W
Standby Current: <200uA
Voltage Input Range: 3.3-4.2V
Capacity: 2ml
LED Light Battery Indicator
The geekvape zeus x rta
is the final edition of the Zeus series, specially designed for RTA
enthusiasts. A comprehensive upgrade has been made on this edition based
on suggestions and feedbacks from hundreds of Zeus enthusiasts around
the world. The direct top airflow and top-to-side airflow combines to
create an outstanding flavor and vapor production while maintaining its
leakproof condition. All new build deck designed for easy coil building
with open access to trim excess wires. Detachable inner chamber for
convenient cleaning access. Upgraded fill port design to minimize liquid
spillage during the refill process.
Geekvape Zeus X RTA is an upgraded dual coil version of the original Zeus RTA and Zeus dual RTA. It features 25mm diameter and the innovative leak-proof top airflow system, the airflow transferring from the top to the bottom to maintain great flavor. Made of stainless steel, Zeus X RTA is durable and easy to clean. It comes with dual coils build deck which is easy to operate, combined with the Geekvape coils, it will bring a very excellent vaping experience! Together with the large 4.5ml juice capacity, it supports top refilled and compatible with both 810 and 510 drip tips. 6 colors are available.
Parameters
Size: 25*25*44mm
Diameter: 25mm
Material: Stainless Steel
Capacity: 4.5ml
Drip Tip: 810 Drip Tip
Thread Type: 510
Geekvape Zeus X RTA is an upgraded dual coil version of the original Zeus RTA and Zeus dual RTA. It features 25mm diameter and the innovative leak-proof top airflow system, the airflow transferring from the top to the bottom to maintain great flavor. Made of stainless steel, Zeus X RTA is durable and easy to clean. It comes with dual coils build deck which is easy to operate, combined with the Geekvape coils, it will bring a very excellent vaping experience! Together with the large 4.5ml juice capacity, it supports top refilled and compatible with both 810 and 510 drip tips. 6 colors are available.
Parameters
Size: 25*25*44mm
Diameter: 25mm
Material: Stainless Steel
Capacity: 4.5ml
Drip Tip: 810 Drip Tip
Thread Type: 510
Chongming, China’s third-largest island, is about 26 percent forested.
When it hosts the 2021 China Flower Expo, forest coverage in the expo
site will rise to 35 percent, and will increase to 50 percent after the
event. Garbage disposal and sewage collection in the site will be at 100
percent while the use of renewable energy will be higher than 20
percent.To get more Chongming District, you can visit shine news official website.
Organic farms produce vegetables and fruits sought throughout Shanghai. Natural wetlands, fresh air and clean waterways have made the island a favorite getaway for those seeking a respite from the chaos of urban life.
Last year, all the surface water environment function area reached the quality standard and the air quality was excellent on 86.3 percent of the days. Moreover, 33.4 percent of the household garbage was recycled.
By 2040, Chongming will be characterized by “green development, culture, wisdom and sustainability,” according to Li Zheng, chief of the island district.
The natural wetland coverage will be 45 percent and river area 10.3 percent by 2040.
Chongming Island offers a scenic, peaceful environment for jogging and cycling. Some 220 kilometers of cycling track and 42 kilometers of a running track along a riverbank are popular with local residents.
Along both routes the environment changes in delightful ways. Zhongxing Town is awash with cherry blossom at the moment. In Xincun village, there is the sweet scent of osmanthus while Miaozhen Town features maple trees that turn a brilliant scarlet in the fall.
The paths through Luhua Town follow the banks of a scenic lake and pass by tangerine orchards. Changxing Town features a four-season scenic area, complete with bicycle rental stations and service centers.Chongming has long been a favorite site for birdwatchers. Its protected wetlands are stopover points or wintering grounds for millions of birds migrating between Siberia and Australia. In recent years, island officials have announced plans to step up the campaign against illegal poaching of wildlife, including birds.
“Preventing illegal hunting, including the use of nets and poison, is a key priority for Chongming District,” said Li.
The Xisha Wetland on the west side of the island and Dongtan Wetland in the east are the first priorities when it comes to law enforcement.
Law enforcement teams have been established at forestry stations, with wildlife protection patrols in every village.
In recent years, the Oriental stork (Ciconia boyciana) has been spotted in the Dongtan Wetland Protection Zone while the number of cygnets is on the rise as are birds such as the mandarin duck, the black-faced spoonbill (Platalea minor) and that Eurasian spoonbill.
The population of the island and land available for commercial development are both being strictly controlled to protect the environment. The population will be kept to around 700,000 by 2020.
Organic farms produce vegetables and fruits sought throughout Shanghai. Natural wetlands, fresh air and clean waterways have made the island a favorite getaway for those seeking a respite from the chaos of urban life.
Last year, all the surface water environment function area reached the quality standard and the air quality was excellent on 86.3 percent of the days. Moreover, 33.4 percent of the household garbage was recycled.
By 2040, Chongming will be characterized by “green development, culture, wisdom and sustainability,” according to Li Zheng, chief of the island district.
The natural wetland coverage will be 45 percent and river area 10.3 percent by 2040.
Chongming Island offers a scenic, peaceful environment for jogging and cycling. Some 220 kilometers of cycling track and 42 kilometers of a running track along a riverbank are popular with local residents.
Along both routes the environment changes in delightful ways. Zhongxing Town is awash with cherry blossom at the moment. In Xincun village, there is the sweet scent of osmanthus while Miaozhen Town features maple trees that turn a brilliant scarlet in the fall.
The paths through Luhua Town follow the banks of a scenic lake and pass by tangerine orchards. Changxing Town features a four-season scenic area, complete with bicycle rental stations and service centers.Chongming has long been a favorite site for birdwatchers. Its protected wetlands are stopover points or wintering grounds for millions of birds migrating between Siberia and Australia. In recent years, island officials have announced plans to step up the campaign against illegal poaching of wildlife, including birds.
“Preventing illegal hunting, including the use of nets and poison, is a key priority for Chongming District,” said Li.
The Xisha Wetland on the west side of the island and Dongtan Wetland in the east are the first priorities when it comes to law enforcement.
Law enforcement teams have been established at forestry stations, with wildlife protection patrols in every village.
In recent years, the Oriental stork (Ciconia boyciana) has been spotted in the Dongtan Wetland Protection Zone while the number of cygnets is on the rise as are birds such as the mandarin duck, the black-faced spoonbill (Platalea minor) and that Eurasian spoonbill.
The population of the island and land available for commercial development are both being strictly controlled to protect the environment. The population will be kept to around 700,000 by 2020.
Much of China’s economic growth has been driven by the emergence of a
vibrant private sector, today accounting for approximately 60% of GDP
and 80% of employment. To get more finance news in China, you can visit shine news official website.
Conventional wisdom holds that privatisation of state-owned enterprises (SOEs) reduces their dependence on the state and yields positive economic benefits including enhanced firm performance, productivity, and innovation. The pro-privatisation argument is that the state either cannot monitor managers properly or chooses not to pursue efficiency because state interests take precedence over financial results (Boardman and Vining 1989, Vickers and Yarrow 1991, Shleifer and Vishny 1994). Empirical work, however, has produced mixed results on privatisation. For example, DeWenter and Malatesta (2001) found that, among the 500 largest firms globally in 1975, 1985, and 1995, private enterprises had significantly lower costs and higher profits than SOEs. Yet, when they examined a sub-sample of privatised firms, they found inconsistent results – performance increased post-privatisation, while leverage and employment increased mainly pre-privatisation. Market returns from privatisation also differed across countries, positive in Hungary, Poland, and the UK but insignificant elsewhere.
Our research on privatisation in China (Harrison et al. 2019) is unique in several respects. We analyse an extremely large sample of industrial firms, more than 3.5 million firm-years from 1998 to 2013, drawing on the Annual Industrial Survey conducted by the China National Bureau of Statistics.1 We compare privatised firms with firms that remained state-owned and firms that had never been state-owned. Most importantly, we compare both the performance and dependence on the state of privatised firms with firms having no prior state ownership. Overall, our results indicate selective performance gains from privatisation – privatised firms have greater productivity and are more likely to file patents than firms remaining state-owned even though their return on assets barely improves. The performance effects notwithstanding, privatised firms remain dependent on the state. Subsidies, concessionary interest rates, and loans granted to privatised firms remain at nearly the same levels as those to SOEs. Privatisation changes the behaviour of firms but not firms’ dependence on the state.
Privatisation occurs when the state ceases to hold majority ownership and/or is no longer the controlling shareholder of a firm. A firm is considered state-owned if either 50% or more of its capital shares are owned by the state or the controlling shareholder is the state (in China, the controlling shareholder need not be the majority shareholder). When either of these conditions holds in year t, but neither holds in year t+1, a firm becomes privately owned.
In our analysis, we also separated firms with non-zero legal-person ownership from firms without legal-person owners to control for the possibility that legal-person ownership remains a disguised form of state control. We found no significant differences between firms with and without legal-person ownership. Our regression results, which are discussed in our paper, are based on models with multiple controls including trends for the pre- and post-2008 periods, and fixed effects for year, industry, and firm (industry and firm fixed effects are entered separately).
Conventional wisdom holds that privatisation of state-owned enterprises (SOEs) reduces their dependence on the state and yields positive economic benefits including enhanced firm performance, productivity, and innovation. The pro-privatisation argument is that the state either cannot monitor managers properly or chooses not to pursue efficiency because state interests take precedence over financial results (Boardman and Vining 1989, Vickers and Yarrow 1991, Shleifer and Vishny 1994). Empirical work, however, has produced mixed results on privatisation. For example, DeWenter and Malatesta (2001) found that, among the 500 largest firms globally in 1975, 1985, and 1995, private enterprises had significantly lower costs and higher profits than SOEs. Yet, when they examined a sub-sample of privatised firms, they found inconsistent results – performance increased post-privatisation, while leverage and employment increased mainly pre-privatisation. Market returns from privatisation also differed across countries, positive in Hungary, Poland, and the UK but insignificant elsewhere.
Our research on privatisation in China (Harrison et al. 2019) is unique in several respects. We analyse an extremely large sample of industrial firms, more than 3.5 million firm-years from 1998 to 2013, drawing on the Annual Industrial Survey conducted by the China National Bureau of Statistics.1 We compare privatised firms with firms that remained state-owned and firms that had never been state-owned. Most importantly, we compare both the performance and dependence on the state of privatised firms with firms having no prior state ownership. Overall, our results indicate selective performance gains from privatisation – privatised firms have greater productivity and are more likely to file patents than firms remaining state-owned even though their return on assets barely improves. The performance effects notwithstanding, privatised firms remain dependent on the state. Subsidies, concessionary interest rates, and loans granted to privatised firms remain at nearly the same levels as those to SOEs. Privatisation changes the behaviour of firms but not firms’ dependence on the state.
Privatisation occurs when the state ceases to hold majority ownership and/or is no longer the controlling shareholder of a firm. A firm is considered state-owned if either 50% or more of its capital shares are owned by the state or the controlling shareholder is the state (in China, the controlling shareholder need not be the majority shareholder). When either of these conditions holds in year t, but neither holds in year t+1, a firm becomes privately owned.
In our analysis, we also separated firms with non-zero legal-person ownership from firms without legal-person owners to control for the possibility that legal-person ownership remains a disguised form of state control. We found no significant differences between firms with and without legal-person ownership. Our regression results, which are discussed in our paper, are based on models with multiple controls including trends for the pre- and post-2008 periods, and fixed effects for year, industry, and firm (industry and firm fixed effects are entered separately).