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Author: Hong Sheng
Publisher: World Scientific
ISBN: 9814383848
Category : Business & Economics
Languages : en
Pages : 407
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Book Description
The Nature, the Performance, and the Reform of State-owned Enterprises provides a detailed description of state-owned enterprises (SOEs) in China with respect to both efficiency and income distribution. It shows that state ownership in the form of SOEs does not use resources efficiently and has a poor record in income distribution. Moreover, SOEs are found to enjoy unfair advantages in their competition with other firms. To illustrate the point, the book presents data revealing how favored policies, monopolistic powers, and subsidies benefit SOEs. These advantages are worth several trillion yuans a year. It is a sad irony that such wealth of the people is used to beef up the revenues of the SOEs, making their accounts look much better than they should be.This book, with its rich empirical data and information, is an authoritative reference for researchers interested in SOEs. It is also a good read for students of social sciences and the public to learn more about SOEs.
Author: Hong Sheng
Publisher: World Scientific
ISBN: 9814383848
Category : Business & Economics
Languages : en
Pages : 407
Get Book Here
Book Description
The Nature, the Performance, and the Reform of State-owned Enterprises provides a detailed description of state-owned enterprises (SOEs) in China with respect to both efficiency and income distribution. It shows that state ownership in the form of SOEs does not use resources efficiently and has a poor record in income distribution. Moreover, SOEs are found to enjoy unfair advantages in their competition with other firms. To illustrate the point, the book presents data revealing how favored policies, monopolistic powers, and subsidies benefit SOEs. These advantages are worth several trillion yuans a year. It is a sad irony that such wealth of the people is used to beef up the revenues of the SOEs, making their accounts look much better than they should be.This book, with its rich empirical data and information, is an authoritative reference for researchers interested in SOEs. It is also a good read for students of social sciences and the public to learn more about SOEs.
Author: Xiao Qin
Publisher: Routledge
ISBN: 1136923829
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Changes to corporate structure, including the role of the corporate headquarters, have been key factors in bringing about economic reform in China. In this penetrating and insightful book, Xiao questions the conventional theory of the firm, arguing that the ultimate goal of the headquarters of modern large corporations is to function as a substitute for the market, and introducing a new explanation for the nature of the firm - the 'substitution function model'. He provides an insider's account of the reforms in CITIC, a rare narrative that should be essential reading for scholars and practitioners who care about the theory and practice of the firm, in particular in the context of Chinese enterprise reform.
Author: Yingyi Qian
Publisher: MIT Press
ISBN: 026253424X
Category : Business & Economics
Languages : en
Pages : 414
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Book Description
A noted Chinese economist examines the mechanisms behind China's economic reforms, arguing that universal principles and specific implementations are equally important. As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China's successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China's reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China's regional-based central planning.
Author: Justin Yifu Lin
Publisher: Chinese University Press
ISBN: 9789622019539
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This work is a continuation of the authors' earlier publication, "The China Miracle: Development Strategy and Economic Reform". The authors review the historical evolution of the state-owned enterprises, analyze the current problems, and suggest the direction for future reforms.
Author: John Hassard
Publisher: Routledge
ISBN: 1134195192
Category : Business & Economics
Languages : en
Pages : 363
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Book Description
Based on extensive original research, this book provides a comprehensive overview of the current status of state enterprise reform in China. Chinese State Enterprise Reform considers the relationship between public ownership and public enterprises, and the historical evolution of China's economic reform programme since 1978, including assessments of the Contrast Responsiblity System, which operated from the early 1980s to the early 1990s, and the Group Company Experiments, which began in the 1990s. It discusses the relations between workers, managers, and the state in post-Dengist China, the implications of the reform programme for human resources management in state enterprises, the nature of labour representation, and organization under tate capitalism and the problems of surplus labour and reemployment.
Author: Weiying Zhang
Publisher: Cato Institute
ISBN: 193970961X
Category : Business & Economics
Languages : en
Pages : 430
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Book Description
The Logic of the Market by Weiying Zhang—considered China’s “leading market liberal”—comprises his most influential essays on economics over the past three decades. First published in China in 2010, this revised edition contains three new essays, which offer those outside China a deeper understanding of the Chinese economy. “Market competition is a really just competition to create value for others... Only through this approach did the Western economy advance over the past 200 years. It is also the reason for China’s economic marvel over the past 30 years,” writes Weiying. Readers will appreciate Weiying’s ability to address both everyday economic issues and the questions that confront a nation’s leaders, not the least a nation seeking to escape mass poverty. The economic reforms and subsequent growth in China may be the most astonishing and hopeful event of our age. Weiying was among the leaders who set China on its path of change. Here he elucidates the pitfalls and the progress of economic reform, celebrating leaders who mixed sustained idealism with judicious compromise. Readers seeking to learn from China’s successes will find much of interest here. Weiying emphasizes the importance of entrepreneurs in the new China. He concludes, “The key for China, as the country with the world’s largest population, to return to being the largest economy lies in allowing the entrepreneurial spirit to develop the potential of the domestic market.” For that to happen, Weiying recommends that China continue to reduce the state-owned economy, lessen government control over the economy, and—over the next 30 years—emphasize political reform to build a constitutional democracy. His thinking is not limited to China. Some of these essays also focus on the global financial crisis—how Keynesian policies can only be effective for the short term and will bring long-term negative consequences. Weiying provides a unique perspective on his country’s market economy, implementation of economic policies, and the potential for Chinese economic development. “I hope that the logic of the market becomes every person’s ideal,” he writes. “That is my reason for writing this book.”
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Administracion de empresas - Asia oriental
Languages : en
Pages : 44
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Book Description
Author: Congressional Research Service
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976466953
Category :
Languages : en
Pages : 52
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Book Description
Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
Author: Yun-chien Chang
Publisher: Cambridge University Press
ISBN: 1107154243
Category : Law
Languages : en
Pages : 361
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Book Description
Comparing four key branches of private law in China and Taiwan, this collaborative and novel book demystifies the 'China puzzle'.
Author: Andrew Szamosszegi
Publisher: Createspace Independent Publishing Platform
ISBN: 9781475293258
Category : Capitalism
Languages : en
Pages : 122
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Book Description
China's breathtaking economic growth, has often led observers to assume that the country's economic system has been transformed into a capitalist economy dominated by private enterprise. Although China's reliance on private enterprise and market-based incentives has been growing, and the CCP's treatment of private enterprises and entrepreneurs has been changing, it would be a mistake to minimize the current role of the State and the CCP in shaping economic outcomes in China and beyond. The Chinese government and state-owned enterprises (SOEs) remain potent economic forces. Indeed, some of China's SOEs are among the largest firms in China and the world. They are major investors in foreign countries. They have been involved in some of the largest initial public offerings in recent years and remain the controlling owners of many major firms listed on Chinese and foreign stock exchanges.
