Exit the Dragon?: Privatization and State Control in China

The Chinese state is withdrawing from industry at speed. A sale of state assets of huge proportions began in the early 1990s. Most small and medium–sized state–owned enterprises (SOEs) have already been sold, the majority to their own staff, as have township and village enterprises. Large firms, particularly in strategic sectors, are being treated differently. The government is selling stakes in some, but the largest and best firms are being retained, and new state agencies and incentive mechanisms are being used to boost their performance.

This volume, drawing on the research of ten scholars from around the world, is the first book–length work to examine and evaluate China’s privatization experience. It tackles a number of important questions. What factors determine the decision by government officials to sell or retain their firms? How efficient and fair is the sale process? How credible is the government’s ambition to create world–class state–owned conglomerates?

Spis treści:
Introduction: Stephen Green & Guy S. Liu.
Part I: Retreat: Privatisation Motives and Methods.
1. China’s industrial reform strategy: retreat and retain: Stephen Green & Guy Liu.
2. Privatization in the former Soviet bloc: Has China learned the lessons?: Stephen Green.
3. Chinese–style privatization: motives and constraints: Guy Liu, Pei Sun & Wing T. Woo.
4. The effects of privatization on China’s industrial performance: Liu Xiaoxuan.
5. Ownership reform in China’s TVEs: Sun Laixiang.
6. China’s public firms: how much privatization?: Guy Liu & Pei Sun.
7. The privatization two–step at China’s listed firms: Stephen Green.
8. Urban housing privatization: Li Bingqin.
Part II: Retain: Non–privatization Industrial Reforms.
9. China’s privatization ministry? The State–owned Assets Supervi sion and Administration Commission: Stephen Green & He Ming.
10. Prospects for privatization in China’s energy sector: Philip Andrews–Speed and Cao Zhenning.
11. Private investment in China’s telecommunication sector: no Chinese, no foreigners allowed?: Marc Laperrouza.

Nota biograficzna:
Stephen Green is Senior Economist, China, for Standard Chartered Bank, Shanghai, and formerly Head of Asia Programme at Chatham House (the Royal Institute of International Affairs) in London. He holds a First Class Honours degree from Cambridge University and a Ph.D. in Government from the London School of Economics and Political Science. He has also studied in Taiwan, at Fudan University in Shanghai and at Culture and Language University in Beijing. His articles have appeared in the Financial Times, the South China Morning Post, and the Asian Wall Street Journal and he is a regulator commentator on China for CNN and the BBC.

Dr Guy S. Liu obtained his PhD from Oxford University, and specialized in economics of industry with a particular interest to China’s enterprise reform. He is a lecturer at Brunel University and professor of Sichuan University in China. He also lectures on the Chinese economy and industry for the visiting MBA/EMBA programme at Oxford University. He has been invited as a guest editor of a special issue on China’s economy and enterprise reform for a number of journals including China Economic Review, Economics of Planning and Corporate Governance – An International Review. He has also been involved in policy advisory work on Chinese enterprise reform for both the British and the Chinese government. He is a regular commentator on China’s economic affairs for the BBC and Free Asia.

Okładka tylna:
The Chinese state is withdrawing from industry at speed. A sale of state assets of huge proportions began in the early 1990s. Most small and medium– ;sized state–owned enterprises (SOEs) have already been sold, the majority to their own staff, as have township and village enterprises. Large firms, particularly in strategic sectors, are being treated differently. The government is selling stakes in some, but the largest and best firms are being retained, and new state agencies and incentive mechanisms are being used to boost their performance.

This volume, drawing on the research of ten scholars from around the world, is the first book–length work to examine and evaluate China’s privatization experience. It tackles a number of important questions. What factors determine the decision by government officials to sell or retain their firms? How efficient and fair is the sale process? How credible is the government’s ambition to create world–class state–owned conglomerates?