Index - Capitalism with Chinese Characteristics: Entrepreneurship and the State
By Yasheng Huang
Index
ABC see Agricultural Bank of China
Agricultural Bank of China (ABC) 32, 138
credit from 145–146
RCCs and 146, 153, 154
TVEs and 76
agriculture
banks and 152
crisis in 113
declining importance of 47
planning difficulties with 61
reforms in 85–86
rural entrepreneurship and 64–65
transition from 118
TVEs and 128
Wan on 99
in Zhejiang province 292
AIG see American International Group
All-China Federation of Industry and Commerce 108
alliance enterprises (lianying) 74
American International Group (AIG) 198
Anhui province 88, 111
TVEs in 134
area head (pian zhang) 162
area management (guan pian zhidu) 162
arrests 36
of Chen Liangyu 294
for corruption 294
Cultural Revolution and 94
of Nian 109
Arrow, Kenneth 26
AsiaInfo 5
Association of Individual Laborers 92
Bank of China 32
loans to private sector from 144
new building for 64
banks 29
see also Agricultural Bank of China; People's Bank of China; World Bank
agriculture and 152
Bank of China 32, 64
HSBC 198
Beijing, TVEs in 134
Bhagwati, Jagdish 19
BICA see Bureau of Industry and Commerce Administration
bonds 91
brand-names 50
Brazil 242, 246, 250, 256, 277, 285
bribes, corruption and 284–285
Bureau of Industry and Commerce Administration (BICA) 58
capitalism 10–13, 247, 275
cronyism and 112
Cultural Revolution and 36, 61
document No. 1 and 90
entrepreneurial 9
in India 277–278
oligarchic 43
rural entrepreneurship and 9, 32–33, 40, 41–42, 57–62, 83
virtuous 81–85
in Zhejiang province 292
CAS see Chinese Academy of Sciences
CCP see Chinese Communist Party
checks and balances 35
on CCP 166
Chen Changshi 63
Chen Liangyu 40, 210, 212
arrests of 294
Chen Muhua 138, 148
Chen Tongyin 63
Chen Yubing 63
Chery 57
China Automotive General Corporation 128
China Governance, Investment Climate, and Harmonious Society: Competitiveness Enhancements for 120 Cities in China 224
China National Petroleum Corporation (CNPC) 16
China Patent Agent 3
China puzzle 54
China Statistical Yearbook (CSY) 20, 106
China TVE Yearbook (1978–1987) 76
China's Rural Industry 81
Chinese Academy of Sciences (CAS) 1
Chinese Communist Party (CCP)
checks and balances on 166
decline in 161–162
directional liberalism and 38
entrepreneurship and, and
RCCs and 155–156
CNPC see China National Petroleum Corporation
collective reserve fund 101
commune system 98, 162
competition 124
in finance 152–153
MNCs and 210
RCFs and 158–159
SOEs and 169
TVEs and 126, 128
construction of new socialist countryside 297
control rights 13–14, 67–70, 103, 149–150, 155–156, 170–172, 177, 229
convertible bonds 91
corruption 44, 282
arrests for 294
bribes and 284–285
new character of 285
with RCCs 157
credibility (shixin yumin) 99
credit 20
from ABC 145–146
Li Peng on 152
reduction of 115
for TVEs 127
Zhao Ziyang on 152
cronyism 9
capitalism and 112
CSY see China Statistical Yearbook
Cultural Revolution 35, 37
arrests and 94
capitalism and 36, 61
entrepreneurship and 35
property rights and 86
rural entrepreneurship and 61, 86
urban nature of 61
currency 290–291, 297
Dagang 16
Dai Xianglong 153
Daqing 16
Das Kapital (Marx) 100
deepening rural reforms 131, 133
democracy 39, 154–155, 166, 239, 242, 262, 277, 294
democratic rights (minzhu quanli) 99
Deng Liqun 93
Deng Xiaoping 26, 30, 37, 275
on incentives 98
Mao and 36–37, 38
reforms and 38, 85
Southern Tour of 110, 152
Department of the United Front 107
Desai, Maghnad 277
directional liberalism 10, 34, 35–40, 45, 86–87, 103, 237–240
CCP and 38
with finance 145
reversal of 38
rural entrepreneurship and 37
document No. 1 89, 118
capitalism and 90
marketing and 90
with shares 89
document No. 4 74, 97
document No. 287 222
Dollar, David 53, 185
double centralized management (xuan daiguan) 163
dual-track system 33
education
illiteracy and 238
Mao and 60
school fees 283
Shanghai and 224
under-funding of 228
efficiency effect 19
eight big kings 96
Eleventh Party Congress 87
employment
in Guangdong province 190–191
in private sector 100
in Shanghai 181–185, 190–192, 207
TVEs and 134
in Zhejiang province 190–191
entrepreneurial capitalism 9, 34, 40, 173, 237–241, 251, 279
entrepreneurship (self-employment) 58
see also rural entrepreneurship
CCP and, and
Cultural Revolution and 35
Jiang and 92
in Shanghai 193
SOEs and 208
taxation from 56
escalating associations (taihui) 148
exports
FDI and 265
GDP and 265
Shanghai and 179
FDI see foreign direct investment
federalism 28, 111
FIEs see foreign-invested enterprises
15th Party Congress 168
finance 31, 44
see also banks; credit; informal finance
competition in 152–153
crimes with 139
directional liberalism with 145
of fixed-asset investment 143
growth and 55
in Hong Kong 5–6
informal 142–143
liberalization of 102, 144–151
RCCs and 141
reforms in 32
repression of 28, 151–159
rural entrepreneurship and 39, 140–144
squeeze on 138–159
Tiananmen and 111
in Wenzhou 148–149
First Automotive Works 150
fixed-asset investment 20, 45–46, 96
collapse of 115
finance of 143
growth of 87
peasants and 168
state and 168
foreign direct investment (FDI) 4
exports and 265
growth in 53
India and 209
in Jiangsu province 134
poverty and 54
Shanghai and 176, 179, 209, 225
taxation and 160
urban nature of 40
in Zhejiang province 134
Foreign Equity Joint Venture Law 4
foreign-invested enterprises (FIEs) 2, 46
versus indigenous private-sector firms 18
private sector and 48
foreign-owned companies, Lenovo as 3
Formosa Plastics 280
four-wheel drive policy (silun juedong) 133
Friedman, Thomas 178
Fuxing Group 192
Galanz 5
Gandhi, Indira 26, 278
Gang of Four 88
GDP 9, 25, 26–27, 42
exports and 265
imports and 265
by province 81
Shanghai and 176, 179–185
geti hu see individual businesses
geti jingji see individual economy entities
getihu see self-employed household businesses
globalization
poverty and 54
Shanghai and 178–179
World Bank and 53
glory project (guancai shiye) 93, 165
grabbing hand 283
grasping the big and letting go of the small 137, 169
privatization and 169
Great Leap Forward 37, 56
TVEs from 73, 132
Great Wall Group 4
Greencool 71
Gu Chujun 71
guan pian zhidu see area management
guancai shiye see glorious project
Guangdong province 57, 135
employment in 190–191
Guangxi province 137
gufen hezuo qiye see shareholding cooperatives
Guizhou province 66, 137
informal finance in 150
TVEs in 84, 134
Haier 5
Han Lei 138–139, 144
Han Qingsheng 95
hard infrastructures 44
health
Mao and 60
Shanghai and 224
under-funding of 228
Hebei province 81, 95, 132
TVEs in 134
Heilongjiang province 137
Henan province 137
TVEs in 134
Herzog, Silva 285
Hong Kong
finance in 5–6
legal institutions in 5–6
Lenovo and 3
Hong Kong Shanghai Banking Corporation (HSBC) 198
Hope Group 57
household responsibility system (HRS) 52, 86
origins of 88
HRS see household responsibility system
HSBC see Hong Kong Shanghai Banking Corporation
Hu Jintao 22, 39, 44, 286, 293
background of 159
poverty and 282
Hu Yaobang 22, 92
Hua Guofeng 87, 88
Huawei Technology 10–12
military and 11
shares in 11
Huaxi 62
Idiot's Seeds 50
illiteracy 43, 283–284
education and 238
imports
GDP and 265
problems with 290
incentives (jijixin) 98–99, 100
property rights and 86
income
see also per capita income
disparities in 43
in rural areas 118–120
in Shanghai 181–185
Tiananmen and 115
India 43–44, 60–61
capitalism in 277–278
comparison with China 266–274
FDI and 209
MNCs in 278
indigenous private-sector firms 15, 17
vs. FIEs 18
liberalization measures for 24
individual businesses (geti hu) 58
individual economy entities (geti jingji) 58
individual laborers 92
inflation 117, 296
private-sector and 152
informal finance 142–143
crackdown on 158
in Guizhou province 150
reforms with 147–148
Zhu on 159
infrastructures 44, 239–275
initial public offering (IPO), for Lenovo 3
institutional liberalism 45
interest rates 102
flexibility in 149
International Hotel 64
IPO see initial public offering
Jiang Zemin 22, 40, 111, 142, 159
entrepreneurship and 92
rise of 115
Tiananmen and 41
Jiangsu province 62, 131, 135
FDI in 134
jijixin see incentives
Jilin province 150
Jin Deqin 144
joint-ownership firms 46
keiretsu 16
Kelon Group 57, 69–71
Khrushchev, Nikita 37
Kirzner, Israel 203–204
Knight, Frank 203–204
Korea 279, 280
Krugman, Paul 1
labor surplus, Marx on 100
land grabs 282
Law of Physical Property 94
legal institutions 44
in Hong Kong 5–6
legal-person shareholding firms 15–16
Lenovo 1–10
as foreign-owned company 3
Hong Kong and 3
IPO for 3
Li Changping 109, 110
Li Kuoting 280
Li Peng 125
on credit 152
TVEs and 128
lianying see alliance enterprises
License Raj 278
Liu Jinbao 285
Lin Senmu 143
Liu Chuanzhi 3
Liu Guixian 92
Liu Ping 11
loan sharks 149
locational concept 77
Ma Yongwei 149
Mao Zedong 55
Deng Xiaoping and 36–37, 38
education and 60
health and 60
rural entrepreneurship and 55
two-whatevers position on 88
market freedoms 26
marketing, No. 1 documents and 90
Markowitz, Harry 26
Marx, Karl 100
on labor surplus 100
matching problem 286, 290–293
material welfare (wuzhi liyi) 99
media 96
middle-sized firms 206–207
migration 65, 124
military, Huawei Technology and 11
Ministry of Agriculture 31, 76–77
RCFs and 151
Ministry of Finance 76–77
TVEs and 129
Ministry of Machinery Industry 96
Ministry of Petroleum Industry 166
minjian see nongovernmental
minzhu quanli see democratic rights
missing-entrepreneurship 177
mixed ownership, private sector and 48
MNCs see multinational corporations
model workers 95
Moscow Consensus 87
multinational corporations (MNCs) 203
competition and 210
in India 278
Shanghai and 179
Mundell, Robert 26
Nanhai 135
Nantong 97
national champions 160
National People's Congress (NPC) 37, 166
New Heaven and Earth 187
Nian Guangjiu 50
arrest of 109
1997 TVE Law 128–129
nongovernmental (minjian) 138–139, 148, 155
non-performing loans (NPLs) 156
NORINCO 16
North, Douglas 27, 32
NPC see National People's Congress
NPLs see non-performing loans
Nyerere, Julius 277
oligarchic capitalism 43
Olympic Games 287, 295
open-door policy 6
Organic Law of Village Committees 162
Organic Organization Law 163
“other” ownership 46
ownership 46–47
Pan Ning 69
Park Chung-Hee 281
patents 177, 207
Patil, Jayant 175
PBoC see People's Bank of China
Pearl River Refrigerator Factory see Kelon Group
peasants 160
as cheap labor 283
“Chinese peasants, your name is misery,” 139
confiscation of property from 114, 161
crisis with 113, 160
fixed-asset investment and 168
loans to 157
poverty and 179
RCCs and 157
selling restrictions of 157
People's Bank of China (PBoC) 32, 138
RCCs and 153, 156
RCFs and 151
per capita income 56, 114
for businesses 121
in wages 121
PetroChina 16
pian zhang see area head
pillar industries 170
Pitt, William 281
political rights (zhengzhi quanli), democratic rights
Polity IV 36
poverty 26
alleviation of 118
FDI and 54
globalization and 54
Hu Jintao and 282
measurement of 293
peasants and 179
reduction of 53
in Shanghai 185–187
statistics and 54
PRC Township and Village Collective Enterprise Regulation 76
PRC Township and Village Enterprise Law 76
private plots 33
private sector 13–19
see also indigenous private-sector firms
decline in 47
employment in 100
FIEs and 48
growth and 55
inflation and 152
mixed ownership and 48
policies and 19–24
size of 60
TVEs and 55
privately run enterprises (siying qiye) 22, 46, 58, 74, 92, 107
TVEs as 78–79
privatization 168
grasping the big and letting go of the small and 169
shares and 132
of SOEs 49, 169
stock options and 132
of TVEs 129–133
property rights 27, 31, 36
Cultural Revolution and 86
growth and 55
incentives and 86
reforms on 94–98
proprietor security, reforms on 94–98
proprietorship see self-employed household businesses
Provisional methods of lending to industrial and commercial rural households 145
Provisional regulation on the auditing of rural credit cooperatives and punishment measures 157
Pudong project 212, 214
pyramid schemes 148
Qian Taiping 63
Qinghai province, TVEs in 134
RCCs see rural credit cooperatives
RCFs see rural cooperative foundations
Red Flag 99
red-hat firms 75
reforms 85–102
in agriculture 85–86
credibility of 91–94
Deng Xiaoping and 38, 85
in finance 32
with informal finance 147–148
on property rights 94–98
with RCCs 146–147, 154–155
reversal of 109–174
with shares 89
by Wan 111
Zhao Ziyang and 111, 214
Ren Zhenfei 12
restoring the original three features of the RCCs 146
riots 294
Rongqi 69
round trip 6
rule of law 28
rural cooperative foundations (RCFs) 150–151
competition and 158–159
crackdown on 158–159
Ministry of Agriculture and 151
PBoC and 151
RCCs and 159
rural credit cooperatives (RCCs) 29, 146–147
ABC and 146, 153, 154
bureaucratization of 154
CCP and 155–156
control reduction with 144
corruption with 157
finance and 141
management of 146–147
PBoC and 153, 156
peasants and 157
RCFs and 159
reforms with 146–147, 154–155
revival of 294
in Wenzhou 153
rural entrepreneurship 7, 41, 50–51
agriculture and 64–65
capitalism and 9, 32–33, 40, 41–42, 57–62, 83
to cities 91
company size with 60
Cultural Revolution and 61, 86
curtailment of 120
directional liberalism and 37
finance and 39, 140–144
growth of 65–68
Mao and 55
scale of 62–64
supply response and 34
taxation of 42–43
ruralness 33
rural/urban mobility 65
rural-urban planning integration see Pudong project
SAIC see Shanghai Automotive Industry Corporation
san nong weiji see three rural crises
school fees 283
self-employed household businesses (getihu) 22
in Shanghai 200–203
self-employment see entrepreneurship
self-employment household businesses, TVEs as 78–79
seven-employee rule 62, 100
enforcement of 100
17th Party Congress 44
SEZ see special economic zone
Shandong province 84
TVE privatization in 131
Shanghai 42, 81, 111, 175–231
education and 224
employment in 181–185, 190–192, 207
entrepreneurship in 193
exports and 179
FDI and 176, 179, 209, 225
GDP and 176, 179–185
globalization and 178–179
health and 224
income in 181–185
innovation in 192–198
MNCs and 179
poverty in 185–187
self-employed household businesses in 200–203
state and 212–218
World Bank and 178–179
Shanghai Automotive Industry Corporation (SAIC) 16
Shanghai: Her Character Is Her Destiny 198
Shanghai Stock Exchange (SHSE) 171, 294
shareholding cooperatives (gufen hezuo quiye) 46, 130
shareholding firms 46
shares 102
document No. 1 with 89
in Huawei Technology 11
privatization and 132
reforms with 89
with SOEs 13
Shenyang 97
Shenzhen Stock Exchange (SZSE) 171
Shishi 62
shixin yumin see credibility
SHSE see Shanghai Stock Exchange
Sichuan province 111
SOEs and 170
silun juedong see four-wheel drive policy
simultaneous development (yiqi shang) 133
Sina 5
Singh, Manmohan 26, 175
siren 138–139, 155
siying 155
siying qiye see privately run enterprises
SKUs see stock-keeping units
skyscrapers 286–287
slave labor 283
SOEs see state-owned enterprises
soft infrastructures 44, 239, 266–274
Song Taiping 63
Southern Tour, of Deng Xiaoping 110, 152
special economic zone (SEZ) 225
speculation 95
start-up capital 142
state
see also Chinese Communist Party
fixed-asset investment and 168
power of 159–171
Shanghai and 212–218
State Council Investigation and Research Report 114
state-owned enterprises (SOEs)
competition and 169
entrepreneurship and 208
growth of 23
managers in 12
privatization of 49, 169
shares with 13
Sichuan province and 170
subsidiaries of 16
urban nature of 40
Zhao Ziyang on 170
Stiglitz, Joseph 26, 68
stock exchanges 171, 295–296
SHSE 171, 294
SZSE 171
stock options 90
privatization and 132
stock-keeping units (SKUs) 223
subsidiaries, of SOEs 16
Sun Dawu 139
Sunan model 131
Sunday engineers 95
sunflower seeds 50
supply response, rural entrepreneurship and 34
SZSE see Shenzhen Stock Exchange
taihui see escalating associations
Taiwan 279, 280
Tanzania 277
taxation
FDI and 160
limits on 91
of rural entrepreneurship 42–43
with school fees 283
from self-employment 56
Third Plenum of the Eleventh Party Congress 87
13th Party Congress 44, 166
300 Fixed Rural Observation Villages 121
three represents 92, 142
three rural crises (san nong weiji) 113, 160–164
Tian Jiyun 159
Tiananmen 23, 41, 110
finance and 111
income and 115
TVEs and 134
Ting Hsin 5
township and village enterprises (TVEs) 10, 27, 31, 52, 68–85, 101–102
ABC and 76
agriculture and 128
in Anhui province 134
in Beijing province 134
Chinese terms for 106–107
competition of 126, 128
credit for 127
definition of 74
downfall of 126–129
employment and 134
from Great Leap Forward 73, 132
in Guizhou province 84, 134
in Hebei province 134
in Henan province 134
legality of 97
Li Peng and 128
Ministry of Finance and 129
origins of 74
ownership of 29–30, 31, 72, 77, 78–79
private sector and 55
as privately run enterprises 78–79
privatization of 129–133
in Qinghai province 134
resurgence of 133–137
as self-employment household businesses 78–79
size of 77–81
Tiananmen and 134
virtuous capitalism and 81–85
TVE Accounting Regulation 76
TVE Law 128–129
TVEs see township and village enterprises
22 articles 24
two guarantees 170
two-whatevers 88
urbanization 47
usury 149
UTStarcom 5
Venezuela 277
village account managed by the township (cunzhang xiangguan) 163
virtuous capitalism, TVEs and 81–85
Wahaha 5
Wan Li 75, 87, 159, 281
on agriculture 99
reforms by 111
Wang Daohan 198
Wang Guoduan 57, 69
Wang Yongching 280
Wanxiang Auto 128
Washington Consensus 86
Wen Jiabao 22, 39, 44
Wenzhou 58, 132
finance in 148–149
RCCs in 153
WHO see World Health Organization
Wholly Foreign Equity Law 4
Wood, Benjamin 187
World Bank
globalization and 53
Shanghai and 178–179
World Bank TVE study 82, 133, 135
World Health Organization (WHO) 193
World Trade Organization (WTO) 26, 160
WTO see World Trade Organization
Wu Jinglian 276
Wu Min 166
Wu Xiayun 62
Wuxi 131, 135
wuzhi liyi see material welfare
xiangcun qiye see township and village enterprises
Xiaogang 88
Xintiandi (New Heaven and Earth) 187
xuan daiguan see double-centralized management
Yichang 97
yiqi shang see simultaneous development
Yiwu 97
Yu Zhensheng 198, 199
Yuan Fanglie 96
Zhao Ziyang 22, 39, 87, 92, 111, 159
on credit 152
purge of 115
reforms and 111, 214
on SOEs 170
Tiananmen and 41
Zhejiang province 57, 81, 127
agriculture in 292
capitalism in 292
employment in 190–191
FDI in 134
Zheng Lefang 139, 148
Zhengtai Group 97
zhengzhi quanli see political rights
Zhongnanhai 93
Zhu Rongji 22, 111, 159
on informal finance 159
Tiananmen and 41