The Petrochemical Industry in China - Government Regulation and Development Policies
In the proceedings of APROS 2000, Asia-Pacific Research in Organisation Studies Annual, 14-16 December 2000, Sidney, Australia.
22 Pages Posted: 24 Aug 2009 Last revised: 8 Sep 2009
Date Written: August 23, 2001
“Crossing the river by touching stones” (- Deng Xiaoping, speaking of the reform policy.) This paper describes the history of the Petrochemical industry in China after the Second World War. Analysis of the political foundations for the regulatory policies that shaped the industry is followed by a detailed review of the role and responsibilities of various government bodies in the decision making process. The paper refers to the three fundamental political decisions in China, related to the political system, the macroeconomic policy, and the crude oil prices. A critical analysis of the price reforms in the 90’s, and the alterations in the corporate structure and the distribution system, leads to conclusions on the effectiveness of regulatory policies at different stages of planned industrial development.
Keywords: petrochemical industry, industrial policy, restructuring
JEL Classification: O21, P21, N55
Suggested Citation: Suggested Citation