China's Privatization : From Graduation to Shock Therapy?

Abstract/Sommario: A major breakthrough in China's privatization occurred in May 2005, when a 'share conversion' pilot reform program was introduced. The article situates this in the perspective of China's two-decade-long shareholding system reform. It argues that the 'share conversion' reform is part of China's long-followed gradualist transition, instead of a switch to shock therapy