It was 7 o’clock on November 17, 2001. Chen Qinglong, a hired driver in Dongguan City, Guangdong Province, was driving his vehicle to the checkpoint at Changping town of the city. A security guard of the town’s publ...It was 7 o’clock on November 17, 2001. Chen Qinglong, a hired driver in Dongguan City, Guangdong Province, was driving his vehicle to the checkpoint at Changping town of the city. A security guard of the town’s public security bureau blocked his way on the pretext that "his vehicle bumped into a security guard and injured him a few days ago." Then, a policeman from a sub-police station in Changping Town took Chen and his vehicle to the sub-police station.展开更多
A common folk can sue an official? This was hardly possible in the past in China where the old feudalistic tradition dies hard. But this is really possible today when the common people cannot only sue officials and al...A common folk can sue an official? This was hardly possible in the past in China where the old feudalistic tradition dies hard. But this is really possible today when the common people cannot only sue officials and also get compensation if they are wronged. State compensation system It would be inevitable for government functionaries to cause damages to some citizens, legal persons or other organizations in the course of their management of the society. That is why China has established a State compensation system to compensate for the damages to citizens, legal persons and other organizations caused by government functionaries in exercising their power.展开更多
One of the major difficulties blocking China＇s path to becoming a developed capital market is the “state share overhang” problem that hampers the development of the stock market. With almost two-thirds of the outst...One of the major difficulties blocking China＇s path to becoming a developed capital market is the “state share overhang” problem that hampers the development of the stock market. With almost two-thirds of the outstanding shares of the stock market owned by the central government, investors are wary of the potential sell-off by the government that would inevitably dilute the value of their stock holdings. In this paper, we review the state share reform that aims at solving the dilemma that the central government faces： releasing billions of dollars of government＇s capital locked up in the nontradable stocks of the state-owned enterprises （SOEs） without suppressing the stock prices. We also discuss the alternative of using exchange traded funds （ETFs） as a complementary means to expediting the state share conversion process.展开更多
文摘It was 7 o’clock on November 17, 2001. Chen Qinglong, a hired driver in Dongguan City, Guangdong Province, was driving his vehicle to the checkpoint at Changping town of the city. A security guard of the town’s public security bureau blocked his way on the pretext that "his vehicle bumped into a security guard and injured him a few days ago." Then, a policeman from a sub-police station in Changping Town took Chen and his vehicle to the sub-police station.
文摘A common folk can sue an official? This was hardly possible in the past in China where the old feudalistic tradition dies hard. But this is really possible today when the common people cannot only sue officials and also get compensation if they are wronged. State compensation system It would be inevitable for government functionaries to cause damages to some citizens, legal persons or other organizations in the course of their management of the society. That is why China has established a State compensation system to compensate for the damages to citizens, legal persons and other organizations caused by government functionaries in exercising their power.
文摘One of the major difficulties blocking China＇s path to becoming a developed capital market is the “state share overhang” problem that hampers the development of the stock market. With almost two-thirds of the outstanding shares of the stock market owned by the central government, investors are wary of the potential sell-off by the government that would inevitably dilute the value of their stock holdings. In this paper, we review the state share reform that aims at solving the dilemma that the central government faces： releasing billions of dollars of government＇s capital locked up in the nontradable stocks of the state-owned enterprises （SOEs） without suppressing the stock prices. We also discuss the alternative of using exchange traded funds （ETFs） as a complementary means to expediting the state share conversion process.
