The Ownership Reform in China: What direction and how far?

Abstract

Post-Mao China has obviously moved away from the centrally planned command economy in the past two decades of reform. However, the key issue is in what direction and how far. To determine what direction China is headed for and how far China has moved in that direction, this article examines and evaluates the nature of institutional change in the ownership structure, particularly collectives, SOEs, and land ownership, which is then followed by a closer look at the post-Mao shareholding reform, its trends and problems from the basic perspective of property rights theory.