This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …

The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized …. We examine the ownership structure of 826 listed corporations and find that government shareholding is surprisingly large … decreases as government shareholding stakes increase, but beyond this corporate value begins to increase. We interpret this in …