Retreat of the state, advance of the private sector

Retreat of the state, advance of the private sector (Chinese: 国退民进; pinyin: guó tuì mín jìn), or state retreats and people advance, is an economic term referring to the phenomenon of private companies moving forward as state-owned enterprises retreat from economic life. In the Chinese context, the notion specifically means the policy of privatization of state-owned enterprises and the issues it raises during the reform and opening-up process in China.

Source: Wikipedia — Retreat of the state, advance of the private sector (CC BY-SA 4.0)