Interpretationofidioms
Overview
[Phonetic]zìfùyíngkuī
[Explanation]IamresponsiblefortheprofitAndlosses;self-management,self-financing(judicialinterpretation)
[Usage]asapredicateandattributive;referstoone’sownresponsibility
[English]beresponsibleforitsownprofitsorlosses
[German](fürGewinnundVerlust)selbsthaftend
Basicrequirements
Underthepremiseofcompletingnationaltaxes,enterprisesmustuseincometooffsetexpenditures,profitsareattheirdisposal,andlossesarealsobornebythemselves.Enterprisesareresponsiblefortheirownprofitsandlosses,whichcanunifyresponsibilities,powers,andinterests,whichisconducivetogivingplaytotheenthusiasmoftheenterprise'sproductionandoperation,enhancingthevitalityoftheenterprise,andpromotingthedevelopmentofproductivity,whichisalsoconducivetothefurtherimprovementofsocialproductionrelations.CollectivelyownedenterprisesinChinaarecompletelyself-financingenterprises;enterprisesownedbythewholepeoplehavealsoimplementedaself-financingsystembefore,buttheyarenotself-financinginacompletesense.Theprofitsofenterpriseshaveincreased,andtheywillbesharedwiththestateaccordingtotheprescribedproportion,andtheirprofitswilldecreaseorevenoperate.Intheeventofaloss,itseconomicbenefitswillonlybereducedaccordingtothecorrespondingproportion.
History
InChina,self-financingwasusedforthefirsttimewhenthecountrybasicallycompletedagriculturalandhandicraftproductioncooperativesin1956.