A major breakthrough in China's privatization occurred in May 2005, when a “share conversion” pilot reform program was introduced. This article will situate this in the perspective of China's two-decade-long shareholding system reform. It will argue that the “share conversion” reform is part of China's long-followed gradualist transition, instead of a switch to shock therapy.
China's Privatization: From Gradualism to Shock Therapy?
Associate Professor at the Department of Government and Public Administration, The Chinese University of Hong Kong (CUHK). This research is supported by a grant from the South China Program, Hong Kong Institute of Asia-Pacific Studies at CUHK. The author is indebted to a referee who gave very valuable comments on two earlier drafts of this article, and to Charlotte Chan, Jester Chan, and Elton Ma for their research assistance. Email: email@example.com.
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Shu Y. Ma; China's Privatization: From Gradualism to Shock Therapy?. Asian Survey 1 April 2008; 48 (2): 199–214. doi: https://doi.org/10.1525/as.2008.48.2.199
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