China has created a distinct economic system. Yet despite a growing literature with valuable contributions on the … institutional arrangements under 'capitalism with Chinese characteristics', the precise economic mechanisms underpinning China …'s state-market relations remain undertheorised. In this paper we develop a conceptual framework of what we call China's state …

and investment overheating in China. These two phenomena emerged between 2008 and 2011 as a direct consequence of an … characteristics of transforming economy in China as actors in the private sphere were mobilized by the increased input demand of those …