Abstract
Accompanying the fast growth of the Chinese economy is the surge of corporate China. By 2015, China boasts of more than 20 percent of the world’s largest companies (by sales), the majority of which are state owned and concentrated in commodities, energy, and finance. Three structural factors account for the rise of Chinese companies: investment-led economic growth model, globalization and China’s WTO accession, and government policies favoring the state sector. While the large Chinese companies contribute significantly to gross domestic product (GDP), they do not generate much value. While the Chinese economy is going through the transition from investment-led to efficiency-driven, its success largely hinges on whether the Chinese companies can place value creation ahead of size.
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Liu, Q. (2016). The Improbable Surge of Corporate China. In: Corporate China 2.0. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-55089-7_1
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DOI: https://doi.org/10.1057/978-1-137-55089-7_1
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