The Market and the State in China’s Economic Reforms – HKUST Business Insights

Published on: 2015-03-27

SHARE THIS:

China now faces the difficult task of continuing reforms that unleash the power of the market, while also enabling the government to play an economic leadership role and enhance social security. At the April seminar co-organized by HKUST Business School and HKUST Institute for Emerging Market Studies (IEMS), two speakers examine how China is tackling this fundamental challenge in different sectors of the economy.

Video

Despite lower productivity, China’s state-owned enterprises (SOEs) became more profitable than non-SOEs around 2001. Prof Yong Wang of the Department of Economics and HKUST IEMS will show how SOEs monopolized key upstream industries and, during structural change and globalization, extracted rents from the liberalized downstream industries. The seeming prosperity of SOEs is presented as a symptom of reform incompleteness that jeopardizes China’s chance to escape the middle-income trap.

Download Prof Wang’s presentation slides here.


In recent years, China’s labor market has been characterized by rapidly rising wages and increasing labor regulation. Prof Albert Park, Director of the HKUST IEMS and Professor of Economics, assesses changes in demand and supply for workers of different skill levels, the impact of new labor regulations, and China’s success in creating a more inclusive labor market that makes good job opportunities available to workers throughout the country.

Download Prof. Park’s presentation slides here.


Presentation Summary

THE PROFITABILITY PARADOX OF CHINA’S SOES by Prof Wang

RISING WAGES, LABOUR REGULATION AND THE FUTURE OF EMPLOYMENT IN CHINA by Prof Park

Related Content

[Media coverage] Albert Park comments on China’s administrative reforms on South China Morning Post

[Media coverage] Need for policy reforms acute for emerging markets facing growth headwinds, warns Albert Park on CNN

[Media coverage] No need to declare economic calamity in China, says Albert Park to New York Times

Leave a Reply

Your email address will not be published. Required fields are marked *