China's state-owned enterprise reform and its discontents

Problems of Post-Communism

Volumn 56, Issue 2, 2009, Pages 36-42

  Yongnian, Zheng ^a   Minjia, Chen ^b  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

^b UNIVERSITY OF NOTTINGHAM   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 63449130048     PISSN: 10758216     EISSN: None     Source Type: Journal    
DOI: 10.2753/PPC1075-8216560203     Document Type: Article

References (20)

1. "Qi hangye you guoyoujingji juedui kongzhi, guoqi zhengti shangshi jiang tisu" (Seven Industries Firmly Controlled by the State, SOE Listing to be Accelerated), People's Daily (December 19, 2006), http://fi nance.people.com.cn/GB/5185910.html.
2. For a detailed discussion of this strategy, see Yongnian Zheng, Zhu Rongji Xinzheng: Zhongguo gaige de xinmoshi (Zhu Rongji's New Deal: A New Model for China's Reform) (River Edge, NJ: Global, 1994), chap. 4.
3. "Li Rongrong: Guoziwei de chengli shuoming chuziren kaishi daowei (Li Rongrong: The Establishment of SASAC Means Investors Are in Place)," China News (May 22, 2003), www.nyconsulate.prchina.org/chn/xw/t30193.htm.
4. SASAC data.
5. "Guoziwei fu zhuren: woguo jiang jiji tuijin guoqi renshizhudu gaige" (Deputy Director of SASAC: China Will Actively Promote the Reform of Personnel System in SOE), Xinhua (October 25, 2006), www.gov.cn/jrzg/2006-10/ 25/content-423735.htm.
6. János Kornai coined the phrase "soft budget constraints" to explain the need to refi nance loss-making enterprises (János Kornai, Eric Maskin, and Gerard Roland, "Understanding Soft Budget Constraints," Journal of Economic Literature 41, no. 4 [2003]: 1095-1136).
7. "2006 nian guoziwei gongzuo huigu" (SASAC Work Review 2006), www.sasac.gov.cn/2006rdzt/2006rdzt-0021/gzw/default.htm.
8. Ibid.
9. "Renmin luntan diaocha: 96.5% de ren dui dangqian gongzi buman" (People's Forum Survey: 96.5% of Responses Indicate Dissatisfaction about Current Salaries), Xinhua (June 5, 2007), http://news.xinhuanet.com/fortune/ 2007-06/05/content-6202484.htm.
10. "Tiaozheng longduan hangye gongzi buru wanshan guoqi zhili jizhi" (It Is Better to Improve Management Mechanism, Rather Than Adjust the Wage System of SOEs in Monopoly Sectors), Yanzhao Metropolis Daily (March 19, 2007), http://news.xinhuanet.com/comments/2007-03/19/content-5865109. htm.
11. "Guoziwei yancha yangqi "xiao jinku", wei yangqi shangjiao gongli pulu" (SASAC Rigorously Investigates Central SOEs' 'Little Treasuries' to Prepare for the Resumption of Dividends Payments from Central SOEs to the State), Beijing Times (February 16, 2007), http://news.xinhuanet.com/fortune/2007-02/16/content-5745865.htm.
12. General Offi ce of the State Council, Decree No. 97, "Guowuyuan bangongting zhuanfa guoziwei guanyu tuijin guoyou ziben tiaozheng he guoyouqiye chongzu zhidao yijian de tongzhi" (General Offi ce of the State Council Republish 'The Guidance Notice on Promoting the Adjustment of State-owned Assets and Restructuring SOEs' by SASAC) (2006), www.sasac.gov.cn/2006rdzt/2006rdzt- 0021/gzw/03/200701150235.htm.
13. "Wen Jiabao qiangdiao: si fangmian shenhua guoqi gaige, fangkuan shichang zhunru" (Wen Jiabao Stressed: Deepening SOE Reform from Four Aspects and Liberalising Market Access), People's Daily (March 5, 2007), http://fi nance.people.com.cn/GB/1037/5439059.html.
14. "Guoziwei jiwei shuji Huang Danhua: guoqi fubai yuanzi sanda quexian" (Huang Danhua, Secretary of SASAC Discipline Inspection Commission: SOEs' Corruption Stems from Three Main Shortcomings), Legal Daily (September 26, 2005), http://news.xinhuanet.com/lianzheng/2005-09/26/ content-3543392.htm.
15. "Guoqi laogong zha jiu chengle fubai 'zhongzaiqu'" (How Did SOE Bosses Become the 'Disaster Area' of Corruption?), Guangming Daily (February 1, 2007), http://gov.people.com.cn/GB/48380/5354562.html.
16. "Longduan hangye fubai guo shouru gao, zhongyang jiang xiang longduan guoqi kaidao" (Monopoly Sector Has Much Corruption and a High Income, and the Central Government Is Targeting Monopoly SOEs), Oriental Outlook (October 26, 2006), http://news.xinhuanet.com/fortune/2006-10/26/ content-5251320.htm.
17. Speech of Deputy Prime Minister Zeng Peiyan on the National SME Forum (September 14, 2006), available at Department of SME, National Development and Reform Commission of China, http://zxqys.ndrc.gov.cn/ldxw/t20061103-91615.htm.
18. See, for example, Clement Kong-Wing Chow and Michael Ka Yiu Fung, "Small Businesses and Liquidity Constraints in Financing Business Investment: Evidence from Shanghai's Manufacturing Sector," Journal of Business Venturing 15, no. 4 (2000): 363-83;
19. Alessandra Guariglia and Sandra Poncet, "Could Financial Distortions Be No Impediment to Economic Growth After All? Evidence from China," Journal of Comparative Economics 36, no. 4 (2008): 633-57.
20. National Development and Reform Commission data in "Guojia fagaiwei: zhongxiaoqiye daikuai bizhong haizai xiajiang" (NDRC: The Ratio of SME Loans Is Still Falling), China Business Times (January 20, 2006), www.smegd.gov.cn/news/Article/news/jinmao/200601/20060120095115.htm.