419: Chapter 418 Economic Reform! Complete Recruitment! Unlimited Liability!

It was 9:30 PM. The first day of China's First Quantum Industry Conference had just concluded. The session was officially adjourned.

Attendees would have to reconvene promptly at 8:00 AM the next morning. Excluding the first day, the remaining proceedings of the Quantum Industry Conference would take a full six days.

Starting from the second day, the conference would continue to focus on the core industry tracks established on the first day, conducting assessments and selections for relevant sub-tracks.

Afterward, in the name of the official government, China would establish a series of support plans—including project planning, funding allocation, and Science and technology investment—for all leading enterprises responsible for spearheading the major industry tracks and sub-tracks. This would officially implement a "Recruitment" of China's private enterprises.

Enterprises that were not recruited would either have to choose to join directly and compete with several peers within a sub-track, or they would be left with only one very narrow path: "Going Overseas." The ultimate result would be nothing but annexation.

Although it sounded somewhat ruthless, this was an extremely important policy layout implemented by the Chinese government in response to the current state of social transformation as it prepared to step into the interstellar era. It could even be called a critical "National Policy."

Currently, only China's leading domestic enterprises were participating. In the future, all large private enterprises in other countries on Blue Star would gradually be brought under direct or indirect control by China in the name of the state.

The reason was simple. In the ultimate stage of socialism, the past financial system would completely collapse. In particular, there would no longer be a need for the "Limited Liability Company," a form of organization unique to capitalism that had formed in past eras to adapt to the needs of large-scale market economic production.

Replacing it would be the State-Owned Unlimited Liability Company, backed by state credit, built upon the foundation of advanced Science and technology, and aimed at exploring interstellar resources!

What is unlimited liability? The meaning is also simple. All individual shareholders of the enterprise bear unlimited joint and several liability for all the company's debts. All the individual shareholders' economic assets must serve as collateral for the repayment of the enterprise's debts!

If the individual shareholders' entire net worth was insufficient to repay the debts, China, as a shareholder, would provide the final safety net for the enterprise. After repaying all debts, it would guide other enterprises in the relevant industry track to reasonably acquire the enterprise.

This meant that enterprises would no longer face bankruptcy. Employees would not be fired due to poor management. If there was indeed poor management, the first ones to be stripped of their status would be those "people above others."

This form of economic organization was completely idealistic. It was indeed very unrealistic in past eras. Implementing an unlimited liability system for all large enterprises that were responsible for their own profits and losses was impossible, even for state-owned enterprises. After all, no one could guarantee that their own enterprise would always be prosperous.

But after China unified Blue Star, by leveraging the two key events—the post-war disintegration of Eagle Sauce and the establishment of the Huaxia United Organization—and achieving a fully unified currency across Blue Star, there was now a realistic foundation to carry out a comprehensive restructuring of the financial system during this period of transition toward the ultimate stage of socialism.

Although there were still dozens of countries nominally existing on Blue Star, even a primary school student knew that there was essentially only one ruler left for the entire Blue Star: China.