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?
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 Supervision 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.
′Like Dr. Doolittle s Push–me Pull–you, China s approach to state enterprise privatization is straining in opposite directions, and different analysts watch different ends and reach different conclusions about where it is going. Stephen Green and Guy Liu herd these experts into a valuable single volume on Beijing s schizophrenic effort to sell off enterprises and retain enterprises simultaneously. Readers will end up no less sceptical that China s approach will lead to efficient state divestiture with a modicum of fairness, but far more insightful and informed about the process and motivations.′Daniel Rosen, Institute for International Economics