China has actively implemented an industrial policy during the last two decades. However, despite important progress, the overall result is rather disappointing. Should China continue to pursue industrial policy? Should China focus instead on developing successful globally competitive firms...

As China joins the World Trade Organization, the author questions whether China’s large firms will be able to compete on the global level playing field. Over the past two decades, Chinese large enterprises have undertaken extensive evolutionary change but, at the same time, the world’s...

It is widely recognized in Chinese policy-making circles that the World Bank made a significant contribution to the country s enterprise reform in the 1980s. A major contribution consisted of bringing eminent international scholars and policy-makers to China, and in sending leading Chinese...

type="main" xml:id="twec12197-abs-0001" <title type="main">Abstract</title> <p>After a quarter of a century of industrial policy, China's objective of nurturing a group of globally competitive state-owned enterprises appears to have succeeded beyond most expectations. However, China's SOEs are far from catching up with the...</p>