privatization
🇺🇸
/ˌpraɪvətəˈzeɪʃn/
🇬🇧
/ˌpraɪvətaɪˈzeɪʃn/
The process of transferring ownership of a business or industry from the government to private companies or individuals.
The privatization of the national railway system allowed private companies to operate train services.
國家鐵路系統的私有化使得私營公司能夠營運火車服務。