IDEAS home Printed from https://ideas.repec.org/a/mes/chinec/v29y1996i2p5-38.html
   My bibliography  Save this article

A Survey of the Research on the Transitional Process of Market-Oriented Reform in China

Author

Listed:
  • Sheng Hong

Abstract

Of all the former planned-economy countries, China might be the most successful in market-oriented reforms. China's GNP grew 9.4 percent per year from 1978 to 1994 (Li T., 1995). By 1994, the reform of the product market was basically completed with more than 95 percent of product prices determined by the market (Li T., 1995). The factor market is also forming. Because of the flow of labor and the development of the non-state-owned sector, labor is increasingly evaluated by the market; similarly, the value of land factor is accessed by the market because of the emergence of the real estate market, and the capital market and money market are preliminarily established through the securities market and the liberalization of trade on the foreign exchange. The output of the non-state sector amounts to 53 percent of the entire GNP (1993, estimated by Qiu Xiaohua), indicating that there has been a significant change in the institution of property rights. What is more important is that these changes have led to the amendment of the Constitution into which the term "market economy" has already been inserted.

Suggested Citation

  • Sheng Hong, 1996. "A Survey of the Research on the Transitional Process of Market-Oriented Reform in China," Chinese Economy, Taylor & Francis Journals, vol. 29(2), pages 5-38, March.
    • Handle: RePEc:mes:chinec:v:29:y:1996:i:2:p:5-38
    as

    Download full text from publisher

    File URL: http://mesharpe.metapress.com/link.asp?target=contribution&id=M20NUM387736K446
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Steve Cohn, 2021. "The Implications of the Triumph of Neoclassical Economics over Marxist Economics in China," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(2), pages 281-299, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:chinec:v:29:y:1996:i:2:p:5-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MCES20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.