The second risk comes from workers who lose their jobs at state-owned companies.

The deal will bring the end of what was until recently France's state-owned oil company.

Here in China, you have to know about reforms and state-owned companies.

He later took up management positions at various state-owned companies.

State-owned companies get almost all the money raised on Chinese markets.

Officials say the country's state-owned oil company cannot do this without foreign expertise.

The other half is held by Venezuela's state-owned oil company.

By the 1990's, the state had become the single largest employer, with more than 200 state-owned companies.

Later, some of them were transformed into independent state-owned companies.

In the same period, 23 major state-owned pharmaceutical companies had sales of $10 billion.