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The National Team and China’s Government
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Book Chapter
The National Team and China’s Government
2012
Overview
This chapter focuses on the National Team and China's Government. The Chinese government's initial policy objective was to create a group of companies that could compete globally. However, the National Team created by government policy was, from its inception, more politically than economically competitive and, as a consequence, these oligopolies came to own the government. In 2004, the State‐owned Assets Supervision and Administration Commission (SASAC) was created to bring order to the ownership of state enterprises. The SASAC was meant to be the owner of the major central SOEs on behalf of the state and was endorsed as such by the State Council. The state is involved at every stage of the market as the regulator, the policy maker, the investor, the parent company, the listed company, the broker, the bank, and the banker. The scope of foreign influence can be expected to be cut back even further as Chinese securities companies, law firms, and auditors assert themselves and Chinese‐style regulation is extended from Shanghai to Hong Kong.
Publisher
Wiley,John Wiley & Sons, Incorporated,John Wiley & Sons, Inc
Subject
ISBN
9781118255100, 1118255100
