But the ones on the list are all state-run enterprises with monopolies in their fields, such as oil, telecommunications and banks. Very few companies have been able to succeed both here and abroad on the strength of their own innovations. At the very least, none have been able to get onto the Fortune 500.

That's the only reason Macao became a must-win area of competition for the biggest gambling tycoons in the world. In the last few decades, Macao's gambling business was monopolized by Stanley Ho. In recent years, the government has decided to open up the gambling industry. This has made the competition extremely fierce. In this way, the quality of service has also risen. So now, besides the Ho family, two big gambling kings from Las Vegas also have managerial power there.

In the last Olympics, the Chinese team also had a lot of success in track and field. One of the Chinese competitors even broke the record long dominated by the Europeans and Americans in the men’s 110 meter hurdles, achieving a real breakthrough.

It looks like the government is continuously breaking down local protections and monopolies to attract even more foreign investment to stimulate the local economies.

That's right. From early on, the reforms of state-owned enterprises couldn't be seen just as expedients for economic stability. Government monopolies of energy, shipping and other areas will only create economic stagnation. Without competition, you can't have motivation. Everyone is hanging around under the protection of the government, clutching their “iron rice bowl.`` Who has any impetus for developing the economy?

I don't think you can look at it that way. The reforms of state-owned companies are intended to convert enterprises originally controlled by the government into free, privately operated businesses, to strengthen healthy competition among enterprises, and to avoid the economic problems brought on by monopolies and a shortage of competition. That's a good thing.