Chinese state firms are expected not only to profit but also to serve state interests. But the Chinese state is fragmented: border provinces are taking on an expanded role in China's global expansion and a broad range of firm activities could be defined as patriotic contributions. Through the case of Yunnan State Farms (YSF), a province-level state-owned enterprise, this article explores how state firms interpret and navigate multiple state interests while also pursuing profit. The firm's ability to profit depends on balancing the demands and support of different Chinese state actors while depicting itself as a development partner to the Lao state and a contributor to Sino-Lao diplomatic relations and border region stability. This case thus shows that, instead of YSF's behaviour being directed by the state, the firm exercises considerable latitude in defining its contributions to state interests through the expansion of rubber production as a driver of development.
