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Dr Zhu Sanzhu offers a thorough account of the tortuous passage of China from an experimental securities market, subject to regional and local or ministerial regulation, to a full-fledged national securities law. China has conducted its securities experiments within a limited private and quasi-private sector, not linking them, as has been true in Central and Eastern Europe, to the rapid privatisation of the instruments and means of production. The capital markets in China are, for certain actors in the economy, a test of economic performance, economic efficiency, and public confidence. The book examines China's emerging securities market and regulatory system, including the scope of regulation, institutional structure, and the regulation of public offerings and the secondary securities market. It also describes the regulation of foreign participation and the internationalisation of the securities market.