As China’s economy reforms, state-owned companies slim down and shape up

World Today

The phrase ‘iron bowl’ is little known to those outside China.

It used to refer to jobs at state-owned companies.

Once hired, you will never have to worry about being fired.

But that bowl was crushed under the massive restructuring plan China rolled out two decades ago.

Hundreds-of-thousands were laid off.

As part of our special series “the Big Picture”, CGTN’s Han Bin reports on the struggles that these people face.