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Article: Realizing the re-emergence of the Chinese stock market: fact or fiction?
- Article from:
- Vanderbilt Journal of Transnational Law
- Article date:
- May 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Vanderbilt University, School of Law. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I. INTRODUCTION
The People's Republic of China (PRC) is positioned to make significant future economic strides, including the re-emergence of an internationally recognized stock market, based on its impressive track record over the past decade. However, the actual realization of the stock market's re-emergence may be a product of fiction, unless Chinese leaders resolve the inherent conflict between state ownership and efficient markets for privately-owned stock.
Section II gives a brief history of the recent development of the Chinese securities market. China entered the 1980s with a desperate need for capital to support the growth of its then ...