Industrial policy, corporate governance, and the competitiveness of China's national champions: The case of Shanghai Baosteel Group
AbstractThe paper presents an in-depth case study of the Shanghai Baosteel Group as a contribution to the overall assessment of the competitiveness and catch-up capability of the Chinese national champions after China's WTO accession. Significant competitive advantages of the firm in the domestic industry are identified, with cautionary remarks concerning the future stiff competition with the global steel giants. Through detailed examinations of the corporate governance mechanism and the industrial policy implementation in Baosteel and the whole steel sector, the paper sheds light on the institutional and policy challenges that the Chinese government has to face in building up its big businesses. It is concluded that whether Baosteel could emerge as a globally competitive steel firm depends critically upon the effectiveness of both the further reform of the state-dominated corporate governance system and the improvement of the industrial policy enforcement.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Chinese Economic and Business Studies.
Volume (Year): 3 (2005)
Issue (Month): 2 ()
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Find related papers by JEL classification:
- L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
- L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
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- Holz, Carsten A., 2011. "The unbalanced growth hypothesis and the role of the state: The case of China's state-owned enterprises," Journal of Development Economics, Elsevier, vol. 96(2), pages 220-238, November.
- Rock, Michael T. & Toman, Michael & Cui, Yuanshang & Jiang, Kejun & Song, Yun & Wang, Yanjia, 2013. "Technological learning, energy efficiency, and CO2 emissions in China's energy intensive industries," Policy Research Working Paper Series 6492, The World Bank.
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