特别是当效率并非首要考虑因素的情况下，中国的国有企业可能会参与一些低收益项目，而这也是为何要密切留意中国的国有企业改革进程的原因。
In particular, because efficiency is not the primary consideration, Chinese state-owned enterprises (SOEs) might purse low-return projects. That is why China’s SOE-reform process must be watched carefully.