Businesses that the government owns, but which they allow professional managers run are known as:

Question

Quizplus · Accepted Answer

"Red hats" refer to businesses in some countries, particularly in China, where the government owns the enterprise but allows it to be run by professional managers. This term is used to distinguish these entities from fully private or state-run companies, allowing them a degree of autonomy while still under government ownership.

Businesses That the Government Owns, but Which They Allow Professional