Shareholding Structures, Related Party Transactions and Corporate Governance in China

Wei Guo Zhang

Chapter 2 in The Governance of East Asian Corporations, 2004, pp 27-53 from Palgrave Macmillan

Abstract: Abstract The People’s Republic of China (PRC) is unique among the markets in our overview because of the changing pattern of ownership over the past 25 years, and in particular, the last decade. Under the communist system with a planned economy, companies were owned and controlled by the State, with all key decisions being made in accordance with State policy and objectives. The initial steps towards a western style securities market occurred in the late 1970s, with the State allowing enterprises to raise funds from employees. In the mid-80s, some enterprises began to issue stocks to the public, and in 1986 public trading of stocks was allowed. Commencing in 1992, the government allowed companies to raise capital by listing in Hong Kong and overseas.

Keywords: Corporate Governance; Initial Public Offering; Minority Shareholder; Security Market; Large Shareholder (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52327-2_2

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DOI: 10.1057/9780230523272_2

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