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Special issue on China's adaptation to global best business practices: introduction

While the intention to adapt to global best practices in business has been strong in China, scholarly assessments suggest limited real progresses. Departing from the general assessments on average firms and actors, this special issue focuses on the leading players who are showing others the way towards a more global style of business conduct and corporate governance, albeit with Chinese characteristics. The findings indicate that the leading firms can overcome the constraint of weak domestic institutions, secure access to international capital market and in doing so learn from international best business practices. Nevertheless it is impossible for domestic regulatory regimes to find a similar short-cut for development. The regulatory developments are bound to depend on the level of sophistication the market system has achieved.