If, indeed, Chinese enterprises are becoming the equivalent of Western corporations, then what does Chinese corporate law look like? Are there corresponding legal enactments which support the historic decentralization of China's industrial production and embrace of market mechanisms? Briefly, the answer is, "Yes, there are Chinese laws which embody many of these changes." Recent legislation detailing the newest powers of Chinese enterprises and factory managers is, in fact, merely the latest lawmaking in an area which has seen prodigious activity since 1978. This article will first attempt to analyze the stages of economic and legal reform which have resulted in the present state of the Chinese enterprise and then suggest the prospects for future development in the light of recent legislation





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