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The Chinese Army's Firm in Business: The Sanjiu Group

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  • Nolan, P.
  • Wang X.

Abstract

China's fast economic growth after 1978 provided opportunities for existing large plants to grow into more complex, big businesses, stimulated especially by booming demand for their `upstream' products, such as steel, heavy machinery and petrochemicals. However, large firms emerged also from among the ranks of new entrants and small producers, especially in `downstream' sectors, where barriers to entry tended to be lower. The object of this study, the Sanjiu Group, only came into existence in 1987. By the early 1990s it had risen to become China's largest pharmaceutical firm and one of the top 100 firms in China. This paper analyses the nature and causes of Sanjiu's explosive growth. Sanjiu is owned by the Chinese Army. This paper analyses also the implications of this fat for theoretical debate concerning the relationship of property rights to firm performance in reforming Communist economies.

Suggested Citation

  • Nolan, P. & Wang X., 1996. "The Chinese Army's Firm in Business: The Sanjiu Group," Cambridge Working Papers in Economics 9702, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:9702
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