Revisions of papers presented at a conference at Hong Kong University of Science and Technology, 1996.

This book is selection of author’s articles about China’s reform and development. The earliest article of the anthology was written in 1986 and the latest in 2017. The author studies the changes in property rights and system based on the practical experience of China’s reform. In the first article “Economics in the Real World”, the author expounds on Coasean Economics’ Research Method which is “neither fashionable nor popular” and finds out problems from the fascinating real world. It focuses on researching the constraint conditions and strives to have cognition generalized. Guided by this methodology, all the following articles are about empirical research on China’s reform, involving such fields as farmland reform, reform of state-owned enterprises, medical reform, urban-rural relationship, monetary system and regulatory reform. In the concluding article “Institutional Cost and China’s Economy”, the author, gives a new interpretation for the economic logic of the high-speed growth and transformation of China’s economy by redefining concepts. Reading the anthology, readers may not only follow the author’s train of thought to have an overview of the surging and magnificent reform course from small clues to the evident, but also have a broader train of thought on studying and comprehending the practical problems of China.

In this volume, distinguished Chinese and Western scholars provide a detailed examination of the problems associated with China's transition to a market-oriented system. A variety of reform proposals, aimed at resolving the contradictions inherent in piecemeal reform, are discussed along with the chances for future liberalization. These clearly written and insightful essays address the roots of China's crisis. The authors focus on institutional changes necessary for a spontaneous market order and point to the close relation between economic reform and political-constitutional reform. Topics include the speed and degree of the transition, whether ownership reform must precede price reform, how inflation can be avoided, steps to depoliticize economic life, how to create an environment conducive to foreign trade and investment, and how to institute basic constitutional change and open China to the outside world. The revolutionary changes now shaking the foundations of socialism and central planning in the Soviet Union and Eastern and Central Europe are sure to have an impact on China's future. Despite their seriousness, the events of Tiananmen Square may constitute only a temporary detour on the road toward a private market order. The essays in this volume help lay a rational framework for understanding China's present problems and for discussing the prospects for future reform.

Recent decades have witnessed the proliferation in China of huge numbers of private universities and colleges in response to a wide-ranging spectrum of socio-economic and political demands under the country's flourishing market economy and its wholesale pursuit of decentralization. This book explores the issue of property ownership, an area which is regarded as an essential element in the attraction into the sector of local private institutions and foreign partnerships, as well as in facilitating the future development of the country's existing institutions. The focus throughout this book is primarily on the legal, economic, managerial and financial aspects of the relevant issues, as well as other related topics, such as consumer protections and fund-raising activities. A feasibility analysis and discussion is also provided on 'for-profit' universities and their potential market niches in China, in recognition of the fact that the current regulations-which allow private universities to maintain a non-profit status whilst actually enjoying profit returns-clearly provides some legitimacy to the phenomenon of 'for-profit in disguise.' It is argued in this book that such quasi-profit regulations may further exacerbate profiteering behavior, whilst it is also noted that, in the short term, there is a clear need to provide adequate protections within the apparent hybrid version of an ownership system-a system characterized by a mix of capitalism and socialism-through the adoption of a definitive legal framework within which economic actors can coordinate their efforts through a mutually understood framework of action. Finally, it is clear that in the transition from the 'rule-of-the-people' to the 'rule-of-law,' legislation, practices and compliance do not always go hand-in-hand in China; thus the healthy development of the educational sector will undoubtedly require some time, as well as the introduction of complementary mechanisms, for such legislation to be fully enforced in practice. This book concludes with policy recommendations on the existing property ownership system in China to address both the profitability and altruistic concerns of private institutions, and provides suggestions for areas which might be explored to facilitate ongoing sector development.

First published in 1999, this volume aims to explore the impact of China’s recent economic reforms and dynamic economic progress on land use, the property market and construction activity under the leadership of Deng Xiaoping until his death in 1997. Following the famine and bloody mayhem of Mao Zedong’s Great Leap Forward and Cultural Revolution, Deng Xiaoping took on the task of piecing the country back together to once more become a leading world economy. Here, Jean Jinghan Chen and David Wills concentrate on his reforms and progress, examining at what point power can be said to have passed from Deng Xiaoping to Jiang Zemin, to what extent Deng’s political philosophy remained in place under the new government and what this means for China’s economic reforms on land, property and construction. The authors provide a view on how management of the physical environment needs to be considered in the context of economic progress to achieve sustainable development.

Eight years of changes in China have passed since the publication of the previous highly successful edition of this book. These changes have not just been about economic development. Among the many transformations there has been another quiet, peaceful, and largely successful (but far from perfect) ‘revolution’ in the area of law, whose deficiencies have been more often mercilessly examined and documented than have its historical achievements and significance. This legal ‘revolution’ is the subject matter of the present book. Like the previous edition, it examines the historical and politico-economic context in which Chinese law has developed and transformed, focusing on the underlying factors and justifications for changes. It attempts to sketch the main trends in legal modernisation in China, offering an outline of the main features of contemporary Chinese law and a clearer understanding of its nature from a developmental perspective. It offers comprehensive coverage of topics such as: ‘legal culture’ and modern law reform, constitutional law, legal institutions, law-making, administrative law, criminal law, criminal procedure law, civil law, property, family law, contracts, law on business entities, securities, bankruptcy, intellectual property, law on foreign investment and trade, and implementation of law. Fully revised, updated and considerably expanded, this editon of Chinese Law: Context and Transformation is a valuable and important resource for reasearchers, policy-makers and teachers alike.

This book provides a historical overview of Chinese economic reform over the past 30 years. From the genesis of the reform to the gradual improvement of the market system, and then to the re-start of the critical stage of the reform, this book includes not only research on the reform process, but also detailed descriptions of the key areas of reform since the Third Plenary Session of the 18th CPC Central Committee. On this basis, the author develops six logics for Chinese economic reform. Firstly, reform is cyclical, moving between rapid advances and deadlock; this calls upon us to re-examine the common view of reform. Secondly, reform is systematic; it cannot succeed without supporting reforms in other fields. Thirdly, the relationship between reform, development and stability should be properly handled. This “trinity” is quite different from the perspective of western mainstream theory, which puts too much emphasis on efficiency. Fourthly, the success of Chinese reform was not achieved by chance. The reform practice is based on the theoretical logic, and also goes beyond the debate between progressive and radical modes. Fifthly, the Top-level Design should be combined with “crossing the river by moving from stone to stone,” i.e., the theoretical basis of reform should be combined with reform practice. Sixthly and lastly, the ongoing reform in China must be understood in the contexts of global competition and reform competition.

1997 saw a major reform in China which signaled the move away from its traditional economy, when Jiang Zemin called off the debate on public versus private ownership. However, none of the existing theories can fully explain the transformation of the property rights system during the post-Mao reforms. The first part of this volume will reconceptualize the property rights reform in post-Mao China to provide a political economy explanation of why the transformation of property rights in China appears piece-meal.The success of the post-Mao reforms can be attributed to China's ability to integrate the experience of a variety of transition models. The second part of the paper investigates two distinct transition models, in light of the lessons from current Vietnamese reform. It explores the dynamics of political actions and analyzes the political reasons for economic reform.

This book aims to interpret China’s property-rights reform since 1978 on theory level. Property-rights reform is no doubt the essential for economic system reform, which led to China’s economic miracle in the past 40 years. Neither modern property-rights theory nor Marxism can explain all issues around Chinese complex economic system reform. The book sheds light on the theory development through comparative study and China-focused research.