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Pharmaceuticals

In: China and the Global Business Revolution

Author

Listed:
  • Peter Nolan

    (University of Cambridge
    University of Cambridge)

Abstract

This chapter analyzes the growth from scratch of one of the most powerful firms in the Chinese pharmaceutical industry, the Sanjiu Group. Analysis of this firm is interesting for several reasons. First, it sheds light on the importance of existing powerful institutions in shaping the emergence of big businesses in China’s reforming economy. Most of China’s emerging powerful large businesses are based on the ‘commanding heights’, ‘keypoint’ firms of the old planned economy. Unlike these firms, Sanjiu is a ‘new entrant’. However, it is a ‘new entrant’ with a difference, since the owners of the firm until the late 1990s were one of the most powerful institutions in China (some would say, the most powerful), namely the People’s Liberation Army (PLA). Until 1998 Sanjiu was owned by the General Logistics Department (GLD) of the PLA. In 1998, the central government announced that it intended to divorce the military from the commercial activities of the PLA. If fully implemented, this move would have major consequences for the institutional structure of wide areas of the Chinese economy.

Suggested Citation

  • Peter Nolan, 2001. "Pharmaceuticals," Palgrave Macmillan Books, in: China and the Global Business Revolution, chapter 5, pages 241-326, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52410-1_5
    DOI: 10.1057/9780230524101_5
    as

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