What are the economic types?

Economic types include state-owned economy, private economy, individual economy, collective economy, joint venture economy, foreign investment, joint-stock system, Hong Kong, Macao and Taiwan investment and other economic categories. Economic type refers to the comprehensive situation reflected by enterprises in terms of total production, production scale, total production and benefits, technical content and marketing means when they engage in economic activities with legally obtained resources under certain social conditions.

Brief introduction of economic types

State-owned economy refers to an economic type in which the means of production are owned by the state, and it is an important part of the socialist public ownership economy. The main enterprises include enterprises invested by state organs, institutions and social organizations at the central and local levels using state-owned assets.

Collective economy refers to the economic type in which the means of production are collectively owned by citizens and is an integral part of the socialist public ownership economy. Including all enterprises established by urban and rural collective investment, and some individuals voluntarily give up their ownership through fund-raising and are recognized as collectively owned enterprises by the administrative department for industry and commerce according to law.

Private economy refers to an economic type in which the means of production are privately owned by citizens and based on wage labor. Including all private enterprises, private partnerships and private limited liability companies registered according to national laws and regulations.