China: the planned to free market paradigm
International Journal of Retail & Distribution Management
ISSN: 0959-0552
Article publication date: 1 December 1995
Abstract
Reveals that the People′s Republic of China is a market in transition. The Chinese Government wants to modernize the retail industry as part of the movement from a planned economy to a market economy. Reports that a series of interviews with managers of government‐owned department stores and co‐operatives, free market retailers and members of the municipal and federal commercial planning committees began in 1992. One year later, when a second series of interviews was conducted, the retail industry was vastly different. Joint ventures increased and store managers were given the right to choose their own form of operation. Consumers have experienced self‐service food stores and foreign department stores opened in Beijing and Shanghai. A third set of interviews conducted in March 1995 showed that many reforms had been rescinded because of high domestic inflation. Several new retail ventures aimed at the nouveaux riches in China have had to position downwards. Concludes that the People′s Republic of China′s change from a planned to a market economy is a lesson in social and market change.
Keywords
Citation
Sternquist, B. and Xi Qiao, Z. (1995), "China: the planned to free market paradigm", International Journal of Retail & Distribution Management, Vol. 23 No. 12, pp. 21-28. https://doi.org/10.1108/09590559510103972
Publisher
:MCB UP Ltd
Copyright © 1995, MCB UP Limited