Downsizing Administrative Licensing System and Private Sector Development in the People's Republic of China: A Preliminary Assessment
Private enterprises in the People's Republic of China (PRC) are now permitted to enter many sectors once monopolized by state enterprises, and to create new market sectors. Further private sector development requires reform of the regulatory regime to make it more business friendly to investors. Such reforms include downsizing licensing systems and enhancing the government's regulatory capacity to police markets and cope with market failures.
This paper focuses on downsizing the administrative licensing system and argues that the reduction in licensing has been selectively implemented. Based on an institutional analysis, the paper argues that features of the PRC's bureaucracy have shaped local bureaucrats' incentive systems in ways that are unfavorable for successful implementation of license downsizing.
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The views expressed in this paper are the views of the authors and do not necessarily reflect the views or policies of the Asian Development Bank Institute (ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.
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