Privatization

Privatization is the transfer of businesses or economic activities from government ownership to private ownership.

In the post-communist world, privatization became part of the transition away from state-controlled economies.

Definition

privatization = 私有化，把原属国家的企业或资产转入私人经营

Challenges

Privatization was often difficult and controversial because it changed prices, jobs, political influence, and control over national resources.