China's Market Economy Research Articles

Research on the Correlation Between Executive Compensation and Business Performance in Electric Power Listed Companies

With the rapid development of China's socialist market economy, the power industry has become a pillar industry for the development of the national economy. The reform of the electricity market system is also steadily advancing, and the competition among power companies is becoming more and more fierce. The effective improvement of the performance of power companies faces challenges. As an important part of the enterprise's human resources, executives play an extremely important role in the growth and steady development of the company; executive compensation can play a role in the strength of the company's senior management team and may affect the performance of the company. This paper analyzes and empirically studies the executive compensation incentives of listed companies in the power industry in 2017 and corporate performance. From the empirical analysis, it can be concluded that in the power industry, there is a significant positive correlation between firm size and executive compensation, and the correlation between corporate performance and executive compensation is not significant. Establish executive compensation and companies in listed companies in the power industry. The benefit-linked compensation management mechanism still has a long way to go. The conclusion of this study is of great significance and value for the salary management and enterprise performance improvement of power companies.

The Mercantilist Root of the United States, Europe and Japan's Refusal to Accept China's Market Economy Status

The United States, the European Union and Japan refused to accept China's market economy status (MES), so as to continue fleecing the flock of China. They are pursuing trade protectionism by means of default partly because of a deep mercantilist tradition. Although it has long been outside the mainstream academic discourse system, this tradition was clearly demonstrated in the economic policies and played an important role in the rising and incumbent stage of some countries. Nowadays, the world economy is still shrouded in the economic crisis; countries concerned are no longer shy about trade protectionism to get out of sluggish growth and to delay the rise of China. This article seeks to examine the essence of the United States, Europe and Japan's group default and its root from a mercantilist perspective. It also expresses concern about the prospect of the international economic situation.

Housing inequality in urban China: the heritage of socialist institutional arrangements

With the development of the market economy in China, does the effect of the original socialist institutional arrangements on social inequality fade? We examine this issue by considering the effect of people’s positions in the work unit system and their socioeconomic status on patterns of housing inequality in urban China. Using individual-level data from the 2007 Household Survey on the Housing Conditions of Urban Residents in Nanjing, China, we find that although people’s socioeconomic status (measured by household income and householder’s education) has become very important in shaping people’s housing outcomes in urban China, housing inequality is also determined to some extent by their position in the work unit system—such as being employed in various units within the state sector—before and during the housing reform process. The pattern of housing inequality in urban China indicates that the impact of socialist institutional arrangements on social inequality can still be found in market transition societies even years after the market transition has occurred.

On the innovation and development of civil engineering construction technology

With the rapid development of China's market economy, to a certain extent, the market scale of building engineering has been widened. At the same time, it also brings convenience to people's work and life. Therefore, people put forward higher standards for the construction quality of building engineering. In building engineering construction, civil engineering construction technology is the core part, directly affecting the construction quality of building engineering.

Uneven institutional configurations and sectoral variation in China's socialist market economy: a comparative study of three pillar industries

ABSTRACTBy comparing three Chinese pillar industries, automobile, petroleum, and machinery, this paper analyzes how the development of uneven institutional configurations bred sectoral variation in transitional China. In 1994, at the dawn of the Chinese socialist market economy, the State Council issued guidelines for national industrial policy and proposed the enactment of similar growth-promoting policies for all pillar industries. The level of policy enactment and the resulting outcomes, however, vary significantly across the industries. Previous literature on China's rapid industrialization has sought to build a single model encompassing China as a whole, and has emphasized either the state's institutional capacity or China's unique governance mechanisms. This study investigates China's industrialization by taking account of the uneven development of institutional capacity amid macro institutional reforms. Every idea and institution evolved at a different pace in these reforms, and the incremental nature of the reforms further deepened the gaps between sectors. This paper argues that, due to this uneven development, the Chinese state was not strong enough to be considered a developmental state until at least the early 2000s.

Problems and Countermeasures of logistics management in small and medium enterprises

<p> In the business process of each enterprise, logistics management plays a vital role which directly affects the economic strength of the enterprise.With the continuous development of the market economy in China, the effective control of the logistics links can improve the economic and market competitiveness of the enterprises to a certain extent. According to the current status of enterprise logistics management, the article studies the problem existing in logistics management and puts forward effective solutions to the problems.</p>

On the innovation and development of civil engineering construction technology

With the rapid development of China's market economy, to a certain extent, the market scale of building engineering has been widened. At the same time, it also brings convenience to people's work and life. Therefore, people put forward higher standards for the construction quality of building engineering. In building engineering construction, civil engineering construction technology is the core part, directly affecting the construction quality of building engineering.

The Empirical Studies of China's Enterprise Bankruptcy Law: Problems and Improvements

AbstractOver the past 9 years since the implementation of China's Enterprise Bankruptcy Law in 2007, it has contributed to some measures of regulating market practice and rearrangement of market resources and has become an integral part in an improved legal system of China's market economy. However, a closer look at the effect of implementing the Enterprise Bankruptcy Law shows that the number of bankruptcy cases after its implementation, instead of increasing, has taken on a trend of decreasing. Even under the influence of the 2008 financial crisis, no significant increase in the number of Chinese bankrupt enterprises means that China's Bankruptcy Law failed to play its due role, leaving a large gap as desired. As such, this article aims to examine the problems arising from the implementation of the Bankruptcy Law and, taking this as guidance, probe into the reasons hidden behind and propose possible improvement measures. It is expected that the Bankruptcy Law would increasingly play a key role in the development of China's market economy, particularly under the current situation where Chinese government proposes to clean up zombie businesses. Copyright © 2018 INSOL International and John Wiley & Sons, Ltd.

What Have Caused the Disorders in China's Market Economy? A Moral and Cultural Analysis Framework in Comparative Perspectives

Although more than thirty years’ development of market economy in China has led to the rapid growth of China’s economy, meanwhile there are nevertheless a lot of illegal phenomenon related to corporations’ infringement on consumers’ rights in the process of economic development, such as the incidents of ‘poisonous milk powder’ (毒奶粉) and ‘illegal cooking oil’ (地沟油). A series of phenomenon related to the economic transaction agents’ lack of reputation in the market economy in recent years have reflected the existence of serious deep-rooted moral crisis in the Chinese market economy. This paper argues that explaining the phenomenon of market economic disorder solely from the perspective of cultural determinism is not persuasive enough. This paper attempts to break through the established assumptions of existing cultural determinism and provides a more analytical and deeper framework to explain the negative phenomenon of Chinese market economy from the perspective of localization characterizing by the continuity in terms of the philosophical foundation and structural aspects between Maoist era and contemporary China after the opening-up policies in 1978. This theoretical framework includes three dimensions: (1) Macro level transformation of state ideology (2) The microscopic explanation of pendulum effect. (3) The transformation from rural society to modern contracting society. It is found that the lack of moral foundation in China’s market economy is the result of the combination of the elements of these three dimensions. .

The European Union’s trade and investment policy in Asia: new challenges and opportunities in a changing global environment – or: following individual roadmaps

Asia is Europe’s largest trading partner and EU-Asia trade relations have undergone a rapid change since the global financial crisis. On a global scale, the new multilateral trade agreements such as the now stalled Trans-Pacific Partnership (TPP) involving European Unions’ (EU) major trading partners such as Japan, Singapore and Vietnam also have the potential to change the trade equations. In this paper, we evaluate the new EU trade policy which has been designed to ensure that the EU benefits from the changing global trade scenario and also look at the steps which have been taken by the EU to promote trade relations with its major trading partners in Asia in the predicted ‘Asian century’. We look into the Free Trade Agreements, which are being negotiated with its Asian partners and seek to understand the reasons which have resulted in delays in their signing and negotiations. We evaluate new policies pushed forward by its Asian partners such as the One Belt One Road policy by China and Japan’s policy of securing a large number of trading agreements in the America. Moving ahead, we also shed light on the indirect factors that may influence the success of EU trade negotiations in Asia such as the EU policy on granting China market economy status and the commencement of the ‘Brexit’ process. Lastly, we try to present a list of immediate priorities for EU in Asia, which will ensure that it secures a toehold in trade with the region. All in all, it is shown that the EU has not one and the same approach for all Asian countries but it negotiates flexibly and individually country by country. Because of this “country by country approach” the EU is also not ready to enter into general EU-ASEAN trade negotiations again.

菅原陽心編著, 『中国社会主義市場経済の現在-中国における市場経済化の進展に関する理論的実証的分析-』, 御茶の水書房, 2011年, xiv+418頁

菅原陽心編著, 『中国社会主義市場経済の現在-中国における市場経済化の進展に関する理論的実証的分析-』, 御茶の水書房, 2011年, xiv+418頁

The New Era of Corporate Financial Risk Management and Control Strategy Research

With rapid development of China's market economy, business activities face many risks. The core of the overall management and control of risk is the company's financial risk management. In order to prevent financial risks caused by business management crisis and promote corporate healthy steady sustainable development, the focus on financial risk management and control is a possible series of financial problems and risk to predict and control in the future. In this paper, based on the financial risk characteristics of Chinese enterprises and the management and control situation, in the new period, we strengthen risk awareness, improved scientific financial decisions and build financial risk management and control system by analysing impact factors of financial risk in China to put forward the corresponding management and control strategies.

中国社会主義市場経済の現在, 菅原陽心編著, 御茶の水書房, 2011年

中国社会主義市場経済の現在, 菅原陽心編著, 御茶の水書房, 2011年

The EU’s trade strategy towards China: lessons for an effective turn

The European Union (EU)’s trade strategy has changed since 2015 with the re-introduction of human rights and the EU’s refusal to grant China Market Economy Status. The questions under investigation here are what were the drivers of EU-China trade before the strategic turn and what consequences could the new EU strategy bring about in the relationship. The paper will draw from 16 interviews with think tanks and policy makers carried out in Beijing and Brussels in 2015 to uncover the Chinese perceptions of the EU and its diplomats as well as the preferences that have so far pushed China to make the EU one of its first trade partners. This work concludes that in order for the EU-China trade relationship to keep functioning, the new EU strategy towards China needs to keep human rights as an issue separated from trade, needs to boost knowledge and legislation transfers on sensitive issues like food safety and environmental management and finally needs to keep the “European way” of dealing with trade frictions and disputes with China.

The Entrepreneur's Network and Firm Performance

Diverse organizational forms coexist in China's market economy, adapting and evolving in intensely competitive production markets. We examine the networks of founding chief executive officers of private manufacturing firms in seven cities of the Yangzi River Delta region in China. Through sequence analysis of ties that entrepreneurs relied on for help in the founding and critical events of their businesses, we identify three discrete forms of network governance: traditional kin-based, hybrid nonkin, and rational capitalist. We find that in traditional kin-based network governance, structural holes are linked to higher returns on assets and returns on equity. By contrast, in the rational capitalist form, structural holes and higher firm performance are not linked. We thus show that the content of the tie matters critically in the relationship between structural holes and firm performance.

Trust at Work: A Study on Faith and Trust of Protestant Entrepreneurs in China

There is much talk about the trust crisis in China and the possible role of religion in rebuilding China’s moral order. This study is an attempt to examine religion’s impact on the emerging market economy in China, focusing on trust in business relations that might be generated by the Christian faith. Based on 43 in-depth interviews with Christian entrepreneurs in China, our study shows that the majority of our respondents tend to be: (1) more willing to be trustworthy after becoming Christians; (2) trusting people who share their faith more than others; (3) perceiving religious persons, regardless of what that religion is, as more trustworthy than the non-religious. Our study shows that religiosity is used by many Christian entrepreneurs as a category to guide their decision-making and that it is significant in stimulating and maintaining trust in and from others.

Experimentation in securities market structure and regulation in China: from state to market

ABSTRACTA key feature of the socialist market economy in China is the development of securities markets so as to facilitate entrepreneurship. With the national securities market now well established attention has shifted to the development of lower-tier markets that may be able to meet the financing needs of smaller-scale enterprises. In this article we examine how the concept of experimentation has been applied to the process of developing such markets and the regulatory framework in which they operate. We begin with a survey and critique of the policy and regulatory framework within which lower-tier markets have evolved. We argue that experimentation has been important in China but that it operates in a unique way as a result of the institutional structure in which securities markets are located. We then focus more specifically on the regulatory framework for lower-tier markets and present two case studies focused on the establishment and operation of two local equity exchanges in a single province (LiaoNing). While this evidence supports our view on the significance of experimentation it also highlights the problems associated with developing lower-tier securities markets within the current policy framework.

Credentialism and Career Aspirations: How Urban Chinese Youth Chose High School and College Majors

This article explores how graduates of a junior high school in Dalian City, Liaoning Province, China, chose their high school and college major subject of study and the extent to which their majors fit with their work trajectories. We found that most interviewees considered the likelihood of a major and degree leading to better job opportunities more important than how the major fit with their personal interests. However, the unpredictability of the market economy in China made it difficult to anticipate which majors would lead to more lucrative jobs, and many eventually found work that did not match their majors.

More on Why Granting China Market Economy Status after December 2016 Is Contingent upon Whether China Has in Fact Transitioned into a Market Economy

View More on Why Granting China Market Economy Status after December 2016 Is Contingent upon Whether China Has in Fact Transitioned into a Market Economy by Jorge Miranda - Global Trade and Customs Journal

Book Review: Popular Media, Social Emotion and Public Discourse in Contemporary China, by Shuyu Kong

Popular Media, Social Emotion and Public Discourse in Contemporary China. Shuyu Kong. London, UK: Routledge, 2014. 168 pp. $140 hbk.China is global force that has risen to prominence in the last two decades, and books that provide insights into the various aspects of media in China are needed to better our understanding of the changes that have been taking place there. Hence, Shuyu Kong's highly readable book, Popular Media, Social Emotion and Public Discourse in Contemporary China is welcome addition to the existing literature in this field. She captures the trials and tribulations, hardships and benefits, and joys and sorrows experienced by people in rapidly changing China through an analysis of audiences' emotional online responses to variety of media content in modern-day China. The author has effectively portrayed the changing media content and habits and public opinion within the historical, political, and socioeconomic context of country in transition.Many factors have led to wider choices in media content for viewers in China. These factors include commercialization of media, increasing popularity and diffusion of the interactive aspects of the Internet and social media, investment of domestic private capital, and participation of non-state business organizations in television content production. The book is divided into six chapters, each focusing on case study of specific type of media content, including film, television drama, reality shows, dating shows, and military and spy shows. Several of these shows are directly connected with important social issues confronting the Chinese. Some of the shows are local adaptations of shows that are popular in America, Russia, and other countries. The book is based on extensive research and analysis of the media content and its context, reviews of the shows, and discussions by fans of the films and television shows in online forums.The market economy in China provides more freedom to media content producers. However, the state keeps close watch or is itself involved in the production of content. Kong observes that state monopoly has been replaced with a new kind of commercial monopoly based on capital-albeit frequently mixture of political and economic capital leading to the growth of blockbuster megafilms such as Aftershock (Tangshan da dizhen). Aftershock, joint production of Tangshan municipality and two other firms, cost 120 million yuan and deals with the 1976 earthquake in Tangshan that took 240,000 lives. The film was government effort to reconstruct the image of Tangshan. Based on novella, the film emphasized family values and morals and allowed the nation to mourn the tremendous loss they had suffered in this natural disaster. Crying Your Heart Out (Youlei jingling liu), TV drama, one of the many in the 1990s on the theme of laid-off women workers, received high audience ratings and provided audiences with similar opportunity to empathize with others who had suffered job losses. …