China: Transition to a Market Economy

Paperback | September 1, 1998

byJoseph C. H. Chai

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At the heart of China's remarkable economic growth is a new economic system, which has emerged out of radical reforms in virtually all areas of economic activity. Understanding this system is the key to understanding the Chinese economy. This book, the culmination of many years of research inHong Kong and China, is a comprehensive account of these systemic reforms, as well as of their transferability to other economies in transition. The starting-point of Dr Chai's analysis is a careful examination of the structural elements of China's new economic system, focusing particularly on the decentralization of property rights in both the agricultural and industrial sectors. There follows a detailed analysis of changes in thefunctional elements of the system: its price and financial mechanisms. An assessment of the open-door policy also considers the twin impact of the liberalization of China's foreign trade and foreign investment regimes. Finally, China: Transition to a Market Economy highlights the increasinglyimportant role of the non-state sector in facilitating economic growth and structural transformation. It will be essential reading for any student or researcher concerned with the Chinese economy, or with transition economies in general

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From the Publisher

At the heart of China's remarkable economic growth is a new economic system, which has emerged out of radical reforms in virtually all areas of economic activity. Understanding this system is the key to understanding the Chinese economy. This book, the culmination of many years of research inHong Kong and China, is a comprehensive acco...

Joseph C. H. Chai is at University of Queensland.
Format:PaperbackDimensions:244 pages, 8.43 × 5.43 × 0.55 inPublished:September 1, 1998Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0198294301

ISBN - 13:9780198294306

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Table of Contents

1. Introduction2. Institutional Changes in the Agricultural Sector3. Changes in the Industrial System I: Administrative Reforms and Industrial Reorganization4. Changes in the Industrial System II: Increased Enterprise Autonomy5. Changes in the Industrial System III: Incentive Reforms6. Reforms of the Price System7. Reforms of the Financial System8. The Open Door Policy I: Trade Liberalization9. The Open Door Policy II: Foreign Direct Investment10. The Role of the Non-State Sector11. China's Transition: Overview and General Assessment

Editorial Reviews

`This volume provides an excellent descriptive overview of China's economic reforms ... It is rich in specifics, which is where the book's value lies ... By reading widely in Chinese sources, Chai has been able to provide a fresh, informative and insightful account of the reforms. The bookwill be of interest to specialists, but at the same time its relatively up-to-date coverage makes it a useful text for non-specialists and students who want to understand in concrete terms the content of China's economic reforms.'Terry Sicular, University of Western Ontario, The China Journal, issue 42, July 1999