G20 Financial Officials Discuss Global Economy in Busan

In September 2009 the Group of Twenty （G20） took over the Group of Eight （G8） as a premier forum ,for international economic cooperation at the Pittsburgh Summit. The first achievement of the new forum, a “Framework for Strong, Sustainable, and Balanced Growth＂, would be tested and improved in the G20 meetings in June 2010. Considering the escalating debt crisis in the euro zone since this spring and calls for getting rid of the weaknesses of the financial regulatory system, the G20 assumed the responsibility to formulate global strategies to keep economic recovery on track and lead world economies and financial systems to get away from the mess in a more prudential and skillful way.     

Entrepreneurial Orientation and Performance of Chinese High-Tech Firms： The Mediating Role of Organizational Learning and Moderating Role of Firm Life Cycle

The evidence about how entrepreneurial orientation （EO） affects firms＇ performance remains inconclusive. This study joins the research by incorporating organizational learning （OL） as a micro-macro link and by extending empirical work to the largely underexplored context of Chinese high-tech industries. Results from a survey of 252 Chinese high-tech firms demonstrate： （1） entrepreneurial orientation is positively related to firm performance; （2） organizational learning is also positively related to firm performance; （3） organizational learning partly mediates the positive impact of entrepreneurial orientation on firm performance; and （4） high-tech companies in the start-up and growth stage are likely to demonstrate stronger linkages in the EO-OL-performance relationship than in mature stage, which shows that the EO-OL-performance relationship is moderated by firms＇ life cycle.     

The Sustainable Utilization of FDI Policy

FDI is one of the most important factors for China economy
China has achieved high economic growth for a prolonged period of time. Academic researchers have tried alternative explanations for this miraculous growth. It is found that both export and FDI have a strong and positive effect on economic growth. The results suggest that two policies adopted in China are useful for other developing and transitional economies： export promotion and adoption of world technology and business practices.     

Voluntary Disclosure of Auditors＇ Report on Internal Control： Firm Characteristics and Economic Consequences

Using propensity score matching （PSM） and the difference-in- difference （DID） approach, this paper explores the characteristics of listed Chinese firms that voluntarily disclose auditors＇ reports on internal control and the economic consequences. Using a sample of non-financial firms listed on the main boards of the Shanghai Stock Exchange and the Shenzhen Stock Exchange between 2006 and 2010, we find that firms are more likely to voluntarily disclose their auditors＇ reports on internal control if they have higher state ownership, lower managerial ownership, sanction records, audit committees, non-Big Four auditors as their auditors of annual financial reports, unqualified auditors＇ opinions on financial reports, less board independence, after controlling for firm size, liabilities, performance, and history. Moreover, as compared to a control group that exhibits similar characteristics, firms that voluntarily disclose auditors＇ reports on internal control are associated with positive earnings quality and negative cost of equity capital.     

Investing in Japan？ Statistics Speak

Is investing in Japan a good choice for ambitious Chinese enterprises？ Xiong Lin, partner at the Beijing DaDi Law firm, reminded potential investors that understanding Sino-Japan cultural differences, local policies and the procedures concerning investment, as well as protecting intellectual property and prompt communication with local consulting firms are the keys to good preparation. She gave this advice at the ＂2009 Investment in Japan Seminar＂ on March 5, a seminar co-hosted by CCPIT （China Council for the promotion of International Trade） and JETRO （Japan External Trade Organization） as the follow-up to a session held in 2007.     

Understanding Organizational Agility Development for a Government： A Process Model of Resource Configuration

Organizational agility, the ability to sense and respond to changes quickly, has been regarded as an important index of organizational performance in rapidly changing environments. However, research on agility has largely overlooked the dynamics of the resource configuration process, which includes resource selection, acquisition, development, and management. Prior studies have mostly taken for granted a set of organizational resources deemed sufficient for developing agility, and overlooked the efforts required to render the resources ready for agility development. Adopting the resource-based view, this study aims to close such a theoretical gap by conceptualizing a dynamic resource configuration process. Based on a case study of the Shanghai Social Security Card System （SSSCS） project, we inductively develop a process model for resource configuration in agility development. This model demonstrates the configuration process of IT resources and institutional resources to create agility. Simultaneously, it stresses that IT resources may serve in initiating corresponding institutional resources, assist in the molding and shaping of new institutional resources, and also serve in sustaining institutional resources. Our research contributes to the organizational agility literature by elaborating on the dynamic resource configuration process embedded in the agility development process. Our findings offer suggestions to governments and guide them in configuring 1T and institutional resources to develop organizational agility.     

Strong Renminbi Policy ＆ the Coming of Age of China＇s Outward FDI

This, we believe, will be the year of Beijing＇s strong renminbi policy. Despite concerns about exports, we believe Beijing will keep the CNY pegged against a strong dollar. Combined with cheaper commodity prices and the pressing need of many overseas commodity firms to deleverage, this will create the perfect opportunity for China＇s firms to significantly ramp up their outward foreign direct investment （FDI）. China＇s outward FDI flows are focussed on three sectors： energy, raw materials, and agricultural land. The beginning of 2009 has seen a flurry of deals in which Chinese investors have secured ownership or long-term supply contracts to such things.     

Overseas direct investment may soar

China＇s overseas direct investment （ODI） may see a double-digit growth this year to around US$60 billion, on the back of government support and overseas expansion plans of domestic firms, officials from the Ministry of Commerce （MOFCOM） said on February 24.     

Conditions for Conclusion of Open-ended Employment Contract

The Law of the People＇s Republic of China on Employment Contracts （short for Law on Employment Contracts） carried out in 2008 classified the employment eantracts into three types： fixed-term employment contract, open-ended employment contract and employment contract to expire upon completion of a certain job. Generally speaking, in open-ended employment contract, the employer and employee shall not make an agreement on the time limit of employment contract and this shall be very important for the stabilization of the working relationship and the protection of the employees. So, as soon as this definition came into being, a number of domestic media pay much attention to it.     

Solutions to the Employment Problem

Financial crisis has caused lots of real economies to close down, which leads to a great number of people lost jobs in turn. Increase in unemployment rate, layoffs and cut in salaries, all related news are on newspapers, televisions and the internet every day, causing a panic to the world. Are we in an economic depression like 1930s？ And isn＇t there anything we can do against this？     

Rio Tinto arrests an “isolated”case

China＇s steel industry association said on July 31 that it plans this year to unify the spot and long-contract prices for the country＇s iron ore imports. It will also set a ceiling for charges levied by import trading firms, as part of an effort to regulate the market. The proposal was the top item of discussion at the steel industry body＇s twoday semiannual meeting, said Luo Bingsheng, deputy chairman of the China Iron and Steel Association （CISA）, at a press conference.     

RMB Deepens Influences on Surrounding Countries

As the influence of financial crisis continued to deepen, more and more opinions agree that the underlying causes of the crisis was due to the economy in international reserve currency issuing countries became imbalanced, with many economies passively being shocked. From this point of view, diversification is the basic trend of international monetary system. And, as the current financial crisis pressed countries to strengthen the regional cooperation objectively, it is just for RMB to enlarge the influences on surrounding countries at this time.     

What Impact of the Financial Crisis has on the Exhibition Industry？

Ever since outbreak of the current financial crisis in September 2008, economies in world＇s major countries and regions have been dealt with a heavy blow. According to the forecast made by the International Labor Orga-nization （ILO）, total number of the unemployed in the world shall increase to 210 million with the unemployment rate rising by 6.5% to 7.1%. All these forebode a rather gloomy prospect for employment worldwide.     

The 14th Five-Year Plan Starts A New Journey to A Modernized Socialist Country

2021 is a year of special importance in China’s modernization process,since it is the first year of the 14 th Five-Year Plan and the start of a new journey to build a modern socialist country.In a period of five years,the Five-Year Plan specifies future direction for economic and social development in China,and is an important way for China to carry out development strategies and build consensus on development.     

A New Era for Global Business

Asia Society is the leading global organization working to .strengthen relationship and promote understanding among the people, leaders, and institutions of Asia and the U.S. Every year the Society presents a high-profile Corporate Conference in a selected city in Asia to examine the implications of macroeconomic trends and geopolitical developments for the region and the world. It provides a leading forum for executives to meet the policymakers and business leaders who shape the Asia Pacific business environment.     

China Raises Tax Threshold for Domestic Firms

China has doubled the tax threshold for domestic firms in a move to narrow the taxation gap between indigenous and foreign-invested companies, the State Administration of Taxation (SAT) said on September 8.     

IBF Launched in China

The India Business Forum （IBF）organized by the Confederation of Indian Industry （CⅡ） and the Indian Embassy to China was officially launched in Beijing, on April 16, 2009. With the theme of “Impact of Global Economic Crisis： Challenges and Opportunities for India and China”, IBF （China） was launched to provide a lobby to promote bilateral trade and economic cooperation between the two countries. The forum also focused on the successful stories of Indian companies in China and Chinese companies in India, as well as investment opportunities for Chinese companies in India.     

FDI Drops for Six Months

The FDI statistics issued by the Ministry of Commerce on May 15 show that in April he paid-in foreign investment in China accounted for 8.401 billion USD,down by 0.74％ year-on-year.So far the FDI index has suffered a negative growth for 6 consecutive months.Experts say that the gloomy economies of the European countries and the U.S.,increasing costs and slower economic growth of China,and also competitions from other developing counties will exert continuing pressures on China's FDI condition.It will be a long trend that the inflow of investment will slow down.     

2007 Saw Fresh Air for Insurance

What happened to China's insurance sector this year?Above all, this year was the first in the new Five-Year Plan for the Standardization of China's Insurance (2007-2011). The Five-Year Plan,released back in February, sets the first standards for the insurance industry in China; meanwhile, it also lays out a blueprint for future development. Additionally, the insurance sector is focused on meeting international standards and levels of service in 2015.     

Chinese Foreign Trade： 60 Keywords in 60 Years

The PRC has attained great economic achievements over the past 60 years since its founding in 1949, and it is on the way to becoming one of the biggest economies in the world. During this historic period, especially since beginning the process of reform and opening up in 1978, the country＇s foreign trade has grown enormously and has played a vital role in its domestic development and the global market,though there were years of halts and setbacks between the late 1950s and the late 1970s.