The article explains how China was able to develop a large, active and technologically advanced stock market in the 1990s while maintaining its monopolistic control over financial intermediation. The development of the Chinese stock market was driven by rent-seeking and speculative activities. A series of reform measures for privatizing listed enterprises have been introduced by China in the early 2000s. It provides a discussion on the likely evolution of the Chinese stock market.
|Number of pages||66|
|Publication status||Published - 1 Jan 2006|