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Party Man, Company Man
Is China's State Capitalism Doomed?

By Joe ZHANG,   available in early March 2014,


Inefficient and corrupt, the state sector in China is the source of many of the nation's current ills. However, according to corporate financier and bestselling author Joe Zhang, it is fixable. Even amid the rise of private sector capitalism, the government and public in China have faith in the state sector. And now, contrary to the predictions of many experts in the West, China's state sector is rebounding and on track to expand further. In his new book, Party Man, Company Man: Is China's State Capitalism Doomed? Joe shares his firsthand insights in to China's SOEs (State-Owned Enterprises) in China, the reasons he left the Communist Party, and his predictions on the future of China's successful and growing state sector.

RECOMMENDATION

"Joe Zhang has long been one of the most astute observers of China, whether the issue is energy efficiency, macroeconomics or the role of state-owned companies.... This book is a rare firsthand view from inside the machinery of China's vast economy."

- Victor Mallet, author of The Trouble with Tigers: the Rise and Fall of South-East Asia, and South Asia Bureau Chief of the Financial Times

TABLE OF CONTENTS

Chapter 1 Jumping Ship to Canada: A Senior Manager Flees
Chapter 2 Rejecting a Big Acquisition: Investments Amid Fanciful Projections
Chapter 3 Horse Trading: Redefining Our Core Business
Chapter 4 A String of Real Estate Mistakes
Chapter 5 Managing People: Motivation in an SOE
Chapter 6 Woes of the Newly Wealthy during China’s Real Estate Frenzy
Chapter 7 Stress and Anxiety: The Principal-Agent Problem at an SOE
Chapter 8 Moonlighting: Firing Shots at Two Other SOEs
Chapter 9 The Party is Everywhere
Chapter 10 Falling into the Arms of the State: M&As at an SOE
Chapter 11 Economic Reforms Reversed: The Rise of China’s State Sector
Chapter 12 They Love the State Sector, Honestly
Chapter 13 Answering Critics: Case Studies, Facts, and Figures from China’s State Sector

Chapter 14 What’s Wrong with China’s Private Sector?
Chapter 15 Unanswered Questions
Chapter 16 A Way Forward? Muddling Through
Chapter 17 State Capitalism Works: My Open Letter to President Xi Jinping

Appendix A Critique of the State Sector: My Conversation with an SOE Manager

ABOUT THE AUTHOR

Joe Zhang, 51, is a corporate governance advisor based in Hong Kong. He worked for 11 years at UBS, mainly as Head of China Research and then Deputy Head of its China Investment Banking Division. He was an official of the central People's Bank of China in Beijing from 1986 to 1989. Between 2006 and 2008, Joe was the Chief Operating Officer of Shenzhen Investment Limited, a government company. In the past two decades, Joe's numerous articles have appeared in The Wall Street Journal, Financial Times, Bloomberg, South China Morning Post, The Australian Financial ReviewThe New York Times, and the International Herald Tribune.

Joe Zhang is the author of the bestseller Inside China’s Shadow Banking: the Next Subprime Crisis? which was published in 2013.





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香港慢牛投资公司董事长。瑞士银行11年 (研究主管/投行副主管)。86-89年任职人行总行。五年(2001-05)"机构投资者"杂志评选的中国分析师第一名。

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