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China’s Productivity Boom: The Contribution of Restructuring to Growth and Competitiveness |
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Authors:
Haiyan Deng,
John Haltiwanger,
Yaodong Liu,
Yuqi Liu,
Robert H. McGuckin, III,
Jianyi Xu
While Chinese firms still operate at productivity levels well below their foreign counterparts, this report shows that they are making startling progress. The pace of restructuring and the resulting rise in the productivity of Chinese firms should be a caution to multinational businesses that regard China solely as an untapped market opportunity. Chinese firms, including many of the lumbering and seemingly hopelessly out-dated and inefficient State Own Enterprises (SOEs) are beginning to compete effectively with even the most advanced global companies. These gains were not just a by-product of fast economic growth. More significantly they came about because of the adoption of advanced technologies, the recruiting of a higher quality workforce, and most importantly, the rapid restructuring of firms into modern, competitive businesses. Topics covered include:
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