CNBC: Is a Chinese construction firm benefiting from its Beijing connection?
China Construction America (CCA) is a wholly owned subsidiary of China Construction Engineering. As CNBC reports, CCA's parent company is publicly traded on the Shanghai stock exchange. But the majority of the shares are still owned by the Chinese government—"a holdover from the days when the government controlled every company."
Does this give CCA a competitive advantage?
Government-owned firms face wide distrust in the U.S. Critics suggest they are given special advantages from the country's leadership, or at a minimum, very cheap financing from the country's banks, which are also government-controlled.
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