Neoliberalism ‘with Chinese Characteristics’

typically took an entrepreneurial stance. The initial surge in rural

incomes provided savings that could be ploughed back into the

TVEs. Depending on location, joint ventures with foreign capital

(particularly from Hong Kong or through the Chinese business

diaspora) also 

flourished. TVEs were particularly active in rural

peripheries of large cities, such as Shanghai and in the provincial

zones, such as Guangdong, that had been liberated for foreign

investment. The TVEs became an incredible source of dynamism

in the economy during the 

first decade and a half of the reform

period. By 1995 they were employing 128 million people (see

Table 5.2). They centred grassroots experimentation, functioning

as proving grounds for reforms.

10

 Whatever worked with the TVEs

could later become the basis of state policy. And what largely

worked was a surge of development in light industry producing

consumer goods for export, thus leading China down the export-

led industrialization path. Only in 1987, however, did the state

finally commit to the idea that development should be export-led.

Accounts as to what these TVEs were about vary greatly. Some

Table 5.2. Changing employment structure in China, 1980–2002

(millions)

1980

1990

1995

2000

2002

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