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Intro -- The Development of China's Stock Market, 1984-2002 Equity politics and market institutions -- Copyright -- Contents -- List of illustrations -- Acknowledgements -- List of abbreviations -- Introduction -- Part I Explaining institutional change -- 1 Stock market regulation and institutional change in reform China -- Equity institutions in China and the West -- Explaining institutional change -- Research question, design and problems -- A preview of the argument -- Chapter plan -- 2 Investors, bureaucrats and the institutions of the Chinese state -- Stock market investors: institutions, individuals and interests -- The state: actors and interests -- Co-ordinating the Chinese state -- Concluding remarks -- Part II Local institutional capture -- 3 Nascent equity markets and local institution building, 1984-90 -- Shareholding reform and China's first share -- The rush to share issuance and governance problems at the People's Bank -- Reform China's first equity markets -- Post-Tiananmen economic policy -- Establishing the stock exchanges -- Concluding remarks -- 4 Institutional capture by local leaders: share issuance and other problems, 1993-97 -- The Securities Management Commissions -- The Securities Administration Offices -- The prize of institutional capture: the issuance process -- Concluding remarks -- 5 Equity developmentalism unbound: the capture of secondary market institutions in Shenzhen and Shanghai, 1995-97 -- Sharing the spoils: the stamp tax -- Equity developmentalism in Shenzhen -- Equity developmentalism in Shanghai -- The centre responds: from fire-fighting to institutional change -- Concluding remarks -- 6 The Shanghai and Shenzhen stock exchanges: from local control to 'sons of the CSRC', 1990-2002 -- The Shanghai Stock Exchange, the PBoC and self-regulation, 1990-92 -- The CSRC and the stock exchanges, 1993-95.
Central institutional capture: the CSRC takes control -- Concluding remarks -- 7 Local institution making and the securities trading centres, 1984-98 -- The bond trading centres and informal share trading -- The securities trading centres -- The Shanghai Stock Exchange and the securities trading centres -- Individual securities trading centres -- Regulation of the securities trading centres -- Rectification of the securities trading centres -- Local investment funds -- Concluding remarks -- Part III Central institutional capture -- 8 Institutional creation and development: the China Securities Regulatory Commission, 1992-98 -- Deng Xiaoping's southern tour, the 8.10 Shenzhen crisis and the creation of the CSRC -- The development of the CSRC, 1993-96 -- The empowerment of the CSRC, 1997-98 -- Concluding remarks -- 9 Incoherence at the centre: the State Council Securities Commission and CSRC-PBoC relations 1992-98 -- Early attempts at co-ordination within central government -- The State Council Securities Commission -- The SCSC Office -- Regulatory competition within the central government: the PBoC Regulatory competition within the central government: the PBoC -- Concluding remarks -- 10 Drafting the Securities Law: the role of the National People's Congress in creating institutions, 1992-98 -- Legislative institutions and the revival of the National People's Congress -- Drafting the Securities Law, August 1992-August 1993: the Finance and Economic Committee's radical first draft -- Redrafting the Securities Law, August-December 1993: the Commission for Legislative Affairs -- Redrafting the Securities Law, again, March-December 1994: the search for compromise -- Drafting paralysis at the NPC, December 1995-March 1998: the turn of the CSRC -- Drafting revival, March-October 1998: the rush to compromise within the NPCSC.
The end game, November-December 1998: the NPCSC constrains the CSRC -- Concluding remarks -- Part IV Conclusions -- 11 Socialist market regulation -- Equity institutions: a comparative perspective -- The CSRC and the Securities and Exchange Commission compared -- Concluding remarks -- 12 China's stock market and the changing policy priorities of the State Council -- The stock market and industrial policy, 1997-2000 -- A new set of priorities for the stock market, 2001-02 -- Concluding remarks -- 13 Equity politics and market institutions -- Co-ordinating the Chinese state -- The North paradox: can markets develop without institutions? -- The future of China's stock market -- Appendix: Interview details -- Notes -- References -- Index.
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The development of China's stock market, 1984-2002 [[electronic resource] ] : equity politics and market institutions / / Stephen Green
