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China's Regulatory StateA New Strategy for Globalization$
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Roselyn Hsueh

Print publication date: 2011

Print ISBN-13: 9780801449956

Published to Cornell Scholarship Online: August 2016

DOI: 10.7591/cornell/9780801449956.001.0001

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Deliberate Reinforcement in Strategic Industries

Deliberate Reinforcement in Strategic Industries

(p.193) 8 Deliberate Reinforcement in Strategic Industries
China's Regulatory State

Roselyn Hsueh

Cornell University Press

This chapter surveys strategic industries (financial services, energy, and automotives) to test, extend, and refine the broader applicability of the strategic value framework developed in previous chapters. The state exercised the most deliberate control over financial services. Financial services scored high on measures of strategic value (importance to national security broadly defined and contribution to national technology base) but low in domestic sector competitiveness. The energy sector scored medium high to high in degree of strategic value, and domestic firms are not as competitive as foreign companies in the energy industry. In energy, more than in other industries, the state has sought to balance China's resource requirements for industrialization with concerns for internal stability and energy security. The Chinese automobile sector has few national security implications and infrastructural assets that required central coordination. Thus, the state delegated industrial management to provincial governments. Decentralization and market liberalization created a domestic market made up of over one hundred automakers under provincial ownership and management and thousands more state-owned and nonstate producers of auto parts.

Keywords:   state control, industry regulation, liberalization, financial services industry, energy industry, automotive industry, strategic value

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