Douglas CUMMING, Michael FIRTH, Wenxuan HOU, Edward LEE

Research output: Book Chapters | Papers in Conference ProceedingsForeword / Postscript


China’s economic reforms have been ongoing for more than 30 years and the fruits of this move toward a free market system are becoming increasingly apparent. Initially, the reforms concentrated on improving the efficiency of state owned enterprises (SOEs), and the SOEs were reorganized with corporate structures and mandates to be profit making. At the same time, markets developed and competition became keener. Later, reforms focused on developing new industries. It was soon apparent, however, that the corporatized SOEs were not well-suited to developing completely new technologies and new forms of doing business. China’s government therefore began encouraging individuals to start up new business ventures. The government decided to tap the innate entrepreurial spirit that lies within people, a spirit that had been long suppressed under the centralized state planning system in place since the 1950s.
Original languageEnglish
Title of host publicationDevelopments in Chinese entrepreneurship : key issues and challenges
EditorsDouglas CUMMING
Place of PublicationNew York
PublisherPalgrave Macmillan
Number of pages5
ISBN (Print)9781349681891
Publication statusPublished - 2015


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