A Primer on Corporate Governance:

CHAPTER 1

Introduction

Since the economic reform in 1979, the remarkable growth rate of China has been described by commentators as one of the greatest economic success stories in recent years. During the last three decades, the annual real gross domestic product growth of China was 10 percent on average. On one hand, the current economic growth model that triggered the previous economic achievement is mainly driven by the export led policy and the large-scale government investment, and it could be argued that such a growth model cannot be maintained in the long run. On the other hand, the rapid economic growth in the last several decades has given rise to various social and economic problems that have impeded the country’s future growth, ...