New private banks are being established, according to Shang Fulin, Chairman of the China Banking Regulatory Commission （CBRC）. Speaking at an annual conference of city commercial banks held in Nanchang, Jiangxi Prov...New private banks are being established, according to Shang Fulin, Chairman of the China Banking Regulatory Commission （CBRC）. Speaking at an annual conference of city commercial banks held in Nanchang, Jiangxi Province, on September 22-23. Shang said that this year, the CBRC has completed feasibility studies of 14 prospective banks-three have been approved so far.展开更多
Chinese privatization has been largely spontaneous. This paper studies its causes and outcomes in efficiency improvement and its implications for employment using firm-level paneldata collected in 11 citiesduringthepe...Chinese privatization has been largely spontaneous. This paper studies its causes and outcomes in efficiency improvement and its implications for employment using firm-level paneldata collected in 11 citiesduringtheperiod 1995-2001. Wefind thathardened budget constraint and marketliberalization aretwo significantfactorscontributing to privatization, whileworkerredundancyand excessive debtshinderit. Privatization improvesfirm efficiency when the amountof private sharespasses a certain threshold. In addition, privatized SOEs maintain a lower rate of employment reduction and a highergrowth rate in average wage paymentcompared to pureSOEs. However, theyalso fire more workers than pureSOEsin the year of privatization.<Keywords>privatization transition economics firmefficiency展开更多
文摘New private banks are being established, according to Shang Fulin, Chairman of the China Banking Regulatory Commission （CBRC）. Speaking at an annual conference of city commercial banks held in Nanchang, Jiangxi Province, on September 22-23. Shang said that this year, the CBRC has completed feasibility studies of 14 prospective banks-three have been approved so far.
文摘Chinese privatization has been largely spontaneous. This paper studies its causes and outcomes in efficiency improvement and its implications for employment using firm-level paneldata collected in 11 citiesduringtheperiod 1995-2001. Wefind thathardened budget constraint and marketliberalization aretwo significantfactorscontributing to privatization, whileworkerredundancyand excessive debtshinderit. Privatization improvesfirm efficiency when the amountof private sharespasses a certain threshold. In addition, privatized SOEs maintain a lower rate of employment reduction and a highergrowth rate in average wage paymentcompared to pureSOEs. However, theyalso fire more workers than pureSOEsin the year of privatization.<Keywords>privatization transition economics firmefficiency
