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."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
Review, The 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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