ABSTRACT
In this chapter and the one that follows we offer detailed assessments of economic reform at two of the eight large, state-owned steel enterprises whose operations we have studied since the mid-1990s. In so doing, we focus not only on generic processes of enterprise restructuring, but also, and importantly, on the financial and accounting implications of such reform. In particular, our analysis highlights trends in the profitability and performance of these enterprises for the period 2000-2005. Whereas in the present chapter we analyse such issues in respect of the Wuhan Iron and Steel Company, in the next we do so for the Tangshan Iron and Steel Company.
