Reappraising the performance of China's state-owned industrial enterprises, 1980-96

Efficiency, technical progress, and best practice in Chinese state enterprises (1980–1994)

“…However, there are few studies, which distinguish large-scale SOEs from SOEs as a whole. Lo (1999) is the only study that explicitly compares TFP growth in large and medium state enterprises (LMEs), SOEs as a whole, and collective enterprises (COEs). He estimates a Cobb-Douglas production function using aggregate data for 1980-95.…”

Credit expansion and development – A Schumpeterian and Keynesian view of the Chinese miracle

“…15 In 2004 the relation of domestic credit to GDP in China was 166.9 per cent. Th e drastic reduction of the ratio to 120 per cent in 2005 refl ects that balance sheets were cleared of non-performing loans (World Bank 2006 and2007).…”

“…After ten years of restructuring the SOE sector became profi table and in many respects more dynamic than the private Chinese-owned enterprises sector. For example, most domestic research is located in SOEs (Woetzel 2008, Gabriele 2009, Lo 1999). …”

Vol. 2, No. 3, in July 2009

“…For example, SOEs are performed badly in terms of productive efficiency as well as being a drag economy in the sphere of distribution (Sachs & Wing Thye, 1994a;Woo, Hai, Jin, & Fan, 1994). However, some argue that the actual situation is really the opposite (Lo, 1999;Smyth, 2000 (Smyth, 2000). Owing to that LMEs has been misrepresented, Smyth (2000) states the logic of China's strategy has been misunderstood.…”

“…Losses have concentrated on four industrial sectors-coal mining, oil and gas, textiles and machinery (Smyth, 2000). According to (Lo, 1999), such industries accounted for 54% of total in 1991, and the losses from coal mining, oil, nonferrous metals and military equipment sectors accounted for 90% of central-managed enterprises. In coal mining sector, for example, 85% of output was sold by planned prices, 15% by guidance prices which were two times higher than average planned price, but just 69% of the average market price (Albouy, 1991).…”