The role of the security market in the reform of Chinese state-owned enterprises | |
| Author | Li, Xiaorui |
| Call Number | AIT RSPR no. SM-00-11 |
| Subject(s) | Stock exchanges--China Government business enterprises--China |
| Note | A research study submitted in partial fulfillment of the requirements for the degree of Master of Business Administtioran, School of Management |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-00-11 |
| Abstract | The state-owned enterprises (SOE) have been the backbone of the Chinese economy since the 1949 revolution; they dominated Chinese industry in the pre-reform period. SOEs still play a decisive role in China after almost two decades of economic reform. However, SOEs have encountered numerous difficulties during the current market-oriented reform. Over-load debt, lack of capital sources and unclear property ownership are the main obstacles for SOE to survive. It is reported that the number of loss-making enterprises has grown steadily from 26.4% in 1992 to 44% in 1995, until 1998 reached to more than 50%. Chinese security market has been evolving in parallel to SOE reform, taken as an essential way for completing the refo1m of SOE. Security market can provide a channel for SOE to seek funding for debt reduction, make shareholding reform and privatization, and make revolution on the operational mechanism of SOE, which is the root of SOE inefficiency. In turn, accompanied with the SOE reform, the security market gradually becomes mature and fullscale. CmTently, it is imperative to strengthen security market to cope with the obstacles hindering the development of SOE. The purpose of the research is to give a sketch of the development of SOE refo1m, review the problems that SOEs are facing, identify the functions of security market in SOEs reform, and present possible other strategies proposed and adopted in deepening the current reform. The study also provides the basis for the further study on interaction between security market and public sectors. |
| Year | 2000 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-00-11 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Tang, John C.S.; |
| Examination Committee(s) | Sununta Siengthai;Ramachandran, N.; |
| Scholarship Donor(s) | AIT/ DAAD Partial Scholarship; |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 2000 |