ABSTRACT
the business community, as reflected in the array of measures to nurture hightech industrial growth. To facilitate the development of the ‘new economy’, the government is drafting an amendment to the Company Law that will make it easier to set up an incorporated company (China Business, 29 August, 10 October 2000). Marketisation should not be an uncoordinated process, and requires a variety of institutions to be in place. Now that China has joined the World Trade Organisation, the government needs to accelerate economic liberalisation. However, industrial policy may increasingly be needed if the state is to adequately support newly developing sectors.
