Corporate governance has been identified by the Chinese government as the core element of the “modern enterprise system.” The policy focus on corporate governance reflects the significant progress that China has made in building market institutions and the importance it attaches to changing corporate behavior. | Tenev/Zhang/Brefort Corporate Governance and Enterprise Reform in China Corporate Governance Building the Institutions of Modern Markets Stoyan Tenev and Chunlin Zhang with Loup Brefort and Enterprise Reform in “The authors of this book, with unparalleled depth of knowledge on China’s enduring experience in enterprise reform, provide an up-to-date analysis on the Corporate Governance and Enterprise Reform in China issue that is central to its transition to market. They demonstrate how corporatiza- tion and ownership diversification, which introduced new institutional forms with- out the dismantling of old ones, have further complicated the universally complex problem of corporate governance. They make a number of recommendations for China’s future reform that are economically sensible and politically feasible. I high- ly recommend this book to all who are interested in China’s corporate governance reform.” Yingyi Qian, Professor of Economics, UNIVERSITY OF CALIFORNIA, BERKELEY CHINA BUILDING THE INSTITUTIONS “Corporate Governance and Enterprise Reform in China is the most thorough and up- to-date analysis of the issues that China is grappling with as it enters the World OF MODERN MARKETS Trade Organization. It sets forth an ambitious agenda of reforms that are required to complete the transition to a modern market economy.” Nicholas Lardy, Senior Fellow, BROOKINGS INSTITUTION “Corporate Governance and Enterprise Reform in China is an extraordinarily rich study of an extraordinarily complex and dynamic topic. At one level, the study offers an essential empirical snapshot of the latest stage of Chinese reform, the effort to build the regulatory and governance mechanisms of a developed industrialized economy. At an even more profound level, the study—in its analysis of China—challenges us Stoyan Tenev and Chunlin Zhang with Loup Brefort to reflect more broadly upon what constitutes the requisite institutional foundations of any modern market system. Given its .
