Comment on "The Chinese Corporate Savings Puzzle: A Firm-level Cross-Country Perspective"

The author wishes to thank Joseph Fan and Randall Morck, the organizers for the Conference on Capitalizing China for their encouragement on the comments, and Shangjin Wei, the presenting author of the paper, for exchanging ideas about the paper. The author acknowledges financial support from the National Natural Science Foundation of China (70972009 and 70932002)