Exit the Dragon: Privatization and State Control in China / Edition 1

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Nominated for the 2006 IPEG Book Prize

Drawing on the research of ten scholars from around the world, this volume evaluates China’s privatization experience by investigating the efficiency and fairness of the sale process and the credibility of the government’s ambition to create world-class state-owned conglomerates.

  • One of the first book-length works to evaluate China’s privatization experience.
  • Draws on the research of ten scholars from around the world including Liu Xiaoxuan (Chinese Academy of Social Sciences), Sun Laixiang (SOAS, London University) and Chih-jou Jay Chen (Academic Sinica).
  • Investigates the factors determining the decision by government officials to sell or retain their firms.
  • Evaluates how credible the government’s ambition is to create world-class state-owned conglomerates.
  • Compares the efficiency and fairness of the sales against the lessons learned from the former Soviet bloc.
  • Explains how the state is withdrawing from key sectors such as automobiles, energy and telecoms.
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Editorial Reviews

From the Publisher
'A lucid and comprehensive guide to China's privatisation puzzle.This book is a must-read for anyone trying to understand the bigpatterns or the devilish details of state-owned enterprise reformin China.' Arthur Kroeber, Managing Editor, China EconomicQuarterly

'Like Dr. Doolittle’s Push-me Pull-you, China’sapproach to state enterprise privatization is straining in oppositedirections, and different analysts watch different ends and reachdifferent conclusions about where it is going. Stephen Green andGuy Liu herd these experts into a valuable single volume onBeijing’s schizophrenic effort to sell off enterprises andretain enterprises simultaneously. Readers will end up no lesssceptical that China’s approach will lead to efficient statedivestiture with a modicum of fairness, but far more insightful andinformed about the process and motivations.'Daniel Rosen,Institute for International Economics

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Product Details

  • ISBN-13: 9781405126441
  • Publisher: Wiley
  • Publication date: 4/18/2005
  • Series: Chatham House Papers Series
  • Edition number: 1
  • Pages: 252
  • Product dimensions: 9.21 (w) x 6.14 (h) x 0.63 (d)

Meet the Author

Stephen Green is Senior Economist, China, for StandardChartered Bank, Shanghai, and formerly Head of Asia Programme atChatham House (the Royal Institute of International Affairs) inLondon. He holds a First Class Honours degree from CambridgeUniversity and a Ph.D. in Government from the London School ofEconomics and Political Science. He has also studied in Taiwan, atFudan University in Shanghai and at Culture and Language Universityin Beijing. His articles have appeared in the Financial Times, theSouth China Morning Post, and the Asian Wall Street Journal and heis 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 interestto China’s enterprise reform. He is a lecturer at BrunelUniversity and professor of Sichuan University in China. He alsolectures on the Chinese economy and industry for the visitingMBA/EMBA programme at Oxford University. He has been invited as aguest editor of a special issue on China’s economy andenterprise reform for a number of journals including China EconomicReview, Economics of Planning and Corporate Governance – AnInternational Review. He has also been involved in policy advisorywork on Chinese enterprise reform for both the British and theChinese government. He is a regular commentator on China’seconomic affairs for the BBC and Free Asia.

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Table of Contents

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 learnedthe lessons?: Stephen Green.

3. Chinese-style privatization: motives and constraints: GuyLiu, Pei Sun & Wing T. Woo.

4. The effects of privatization on China’s industrialperformance: 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 IndustrialReforms.

9. China’s privatization ministry? The State-owned AssetsSupervision and Administration Commission: Stephen Green & HeMing.

10. Prospects for privatization in China’s energy sector:Philip Andrews-Speed and Cao Zhenning.

11. Private investment in China’s telecommunicationsector: no Chinese, no foreigners allowed?: Marc Laperrouza.

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