Corporate governance has been identified by the Chinese government
as the core element of the “modern enterprise system.” The policy focus on corporate governance reflects the significant progress that China has made in building market institutions and the importance it attaches to changing corporate behavior.
In recent decades, assets and enterprises that were run by various states have been modeled after business enterprises. In 2003, the People's Republic of China reformed 80% of its state-owned enterprises and modeled them on a company-type management system. Many state institutions and enterprises in China and Russia have been transformed into joint-stock companies, with part of their shares being listed on public stock markets.
Business process management (BPM) is a holistic management approach focused on aligning all aspects of an organization with the wants and needs of clients.
The socialist fiscal system was implicit in the vertical structure of planning and
prices. In the Soviet Union, virtually all investment activity was channeled through the
budget. The primary nominal sources of tax revenue were enterprise profits and resource
rents, turnover taxes charged on the difference between retail prices of consumer goods
and their nominal enterprise cost, and profits of a foreign trade monopoly.