estimate direct and indirect domestic value added in exports of different types of firm. We find that in China, both state … downstream within industries. These findings suggest that SOEs still play an important role in shaping China's exports. …

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 …