Description: This year marks the 20th anniversary of the establishment of China's two stock exchanges in Shenzhen and Shanghai. Over these two decades nearly 2,000 Chinese companies listed domestically in Hong Kong and beyond, raising nearly US $300 billion. There is no doubt that these markets are important, but in a country with no private property and banks accounting for over 90 percent of all corporate financing, just what role do stock markets play and what is their overall significance? This talk explores these two questions and describes to what degree Western legal, accounting and financial concepts have changed China's economic landscape.
Sponsor(s): Center for Chinese Studies (CCS) Sponsor: Berkeley Center for Law, Business and the Economy