In 1994, China began a profound reform of its state-owned enterprises (SOE). We first describe and characterize this …

The majority of enterprises in China are controlled by local governments at the provincial, city, county, township and … lower-level governments of townships and villages in China. …

China’s reform worked and produced some of the most impressive growth in the largest developing and transition economy … in the world in the past twenty-two years. That China has managed to grow so rapidly despite the absence of many … initial conditions and to function as stepping stones in the transition toward the goal. Underlying China’s reform is a serial …

worked in product and labour markets in China’s economic reform in practice. …