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Contents:Introduction1. China's Transition to the Market: Progress andChallengesNicholas C. Hope and Lawrence J. Lau 2. Impact and Significance ofState-Owned Enterprise Restructuring in ChinaRoss Garnaut, Ligang Song andYang Yao 3. Antitrust in China 2006: The Problem of IncentiveCompatibilityBruce M. Owen, Su Sun and Wentong Zheng4. Property Rights and'Original Sin' in China: Transaction Costs, Wealth Creation and PropertyRights InfrastructureAndrew Sheng, Xiao Geng and Wang Yuan5. CorporateGovernance and Property Rights Infrastructure: The Experiences of Hong Kongand Lessons for ChinaAndrew Sheng, Xiao Geng and Wang Yuan 6. China'sEvolving Labor MarketBelton M. Fleisher and Dennis Tao Yang7. China'sEmerging Domestic Debt MarketsPieter Bottelier8. Incremental Reform andDistortions in China's Product and Factor MarketsXiaobo Zhang and Kong-YamTan9. China's Emergence as the Workshop of the World Will Martin and VladManole10. China's Emergence, Real Exchange Rates, and Implications for EastAsian Regional Trade and GrowthDavid Roland-Holst11. The Chinese Approach toCapital Inflows: Patterns and Possible ExplanationsEswar S. Prasad andShang-Jin Wei12. Foreign Direct Investment in China and East Asia BusakornChantasasawat, K.C. Fung, Hitomi Iizaka and Alan SiuIndex