Chinese Offshore RMB Currency and Bond Markets： The Role of Hong Kong

This paper discusses the role of Hong Kong in China’s grand scheme to build up the RMB as a global reserve currency.We highlight the economic importance of Hong Kong to China in terms of channeling foreign direct investment into China,some of which,in the future,will be denominated in the RMB.We discuss the development of China’s RMB currency swap and deposit markets in Hong Kong.These offshore markets enable the RMB to trade freely, setting the stage for the RMB to become fully convertible and allowing market forces to play a role in pricing the value of the RMB,and help in the development of the RMB-denominated bond(or dim sum bond)market in Hong Kong.Finally,we present evidence of the phenomenal growth of the dim sum bond market in Hong Kong,which can further enhance and strengthen the use of the RMB outside China.     

Developmental Constraints Adversely Affecting New Entrants Into the Construction Industry of the Limpopo Province of South Africa

Although political transformation has occurred in South Africa in April 1994, the pace at which economic transformation has occurred has been slow. A review of the literature has shown that economic transformation has been slowed by an acute shortage of technical skills among Black South Africans working in business, government, and industry. A case in point is the construction industry of Limpopo Province of South Africa in which emerging contractors have failed to compete adequately with well-established contractors in the construction industry due to shortage of technical skills, capital, and lack of access to markets. The study is based on a random sample of 104 emerging contractors operating in the Province of Limpopo. A combination of quantitative and qualitative methods of data collection and analyses was used in the study in order to identify and quantify key obstacles to growth and development in emerging contractors. Eigen values estimated from factor analysis showed that the viability of emerging contractors in the construction industry of Limpopo Province was significantly influenced by three factors （lack of entrepreneurial skills, lack of capital, and lack of transparency in the award of construction tenders）. Based on results obtained from multilevel analysis, differences among the five districts of Limpopo Province accounted for 13.18% of the total variation in viability. Differences in entrepreneurial skills between viable and non-viable businesses accounted for 33.49% of total variation. Findings of the study show that entrepreneurial skills are no less important than financial capital for ensuring viability in emerging contractors currently operating in Limpopo Province. The study has also found that the fundamental principles of good governance such as transparency and accountability are not adhered to in the administration and award of government tenders, and that this predicament was working to the detriment of emerging contractors in the province.     

中国股票所有权的分割、流通及对投资银行业的制约

I. IntroductionSince establishment of the two stock markets in Shanghai and Shenzhen, the markets havegrown substantially to over 1,200 listed companies in 2003. The total stock marketcapitalization reached over 45 percent of Chinas gross domestic product (GDP) as of April2000, a figure comparable to that in developed countries, according to Fung and Leung(2002, p.100). Development of the Chinese stock market is critically important, because itenables Chinese firms to raise external capi…     

Creative Batik Motif Design Based on Local Cultural Art and Natural Environments

Local arts, culture, and natural environment of Indonesia had their own uniqueness. They might be explored to help and to develop batik industry in Indonesia, especially in motif aspect. It was necessary to help craftsmen to create new and innovative batik products. The study was conducted as an effort to motivate batik craftsmen in developing batik industry through production of creative and unique batik motives. First study question： What are artistic motives of local arts and culture of natural environment of Yogyakarta and Central Java able to give distinct and characteristically local styles？ Second was how to create creative batik inspired by local arts and natural environment.     

Regional Environmental Performance and Its Determinants in China

A growing awareness of environmental quality hasplaced increasedpressure on China to improve environmental protection and regulations in the country. How have the regional economies in the country performed in terms of environmental efficiency？ The answer to this question is yet to be explored in the case of China. The objective of this paper is to present a quantitative analysis of environmental performance in China＇s regional economies and to examine the determinants of regional variation in performance. The findings are used to draw policy implications for environmental protection and are helpful in the discussion of China＇s future sustainable development.     

What India Can Learn from China and Vice Versa

A partial convergence of the Indian and Chinese growth models is likely. Judging from China's experience, sustaining India's impressive economic performance of recent years will require a significant further opening of its economy (externally and internally), higher savings and investments, especially in physical infrastructure and social services, and stronger labor absorption in the modern sectors. The base of India's current economic boom - software, IT-related services and high-end manufacturing - is narrow compared to China's. Poor performance in agriculture is responsible for still significant poverty in many parts of rural India. Bilateral India-China ties, including trade and investment, are increasing rapidly and could help to bring about the structural economic changes India needs. Through its exports to China, India is becoming linked to global supply chains centered on China. The notion that India-China relations are, or are bound to become, fundamentally antagonistic, held by many in the USA, is mistaken and potentially dangerous.     

Creativity and Innovation as Strategic Resources in International Business Markets

This study focuses on Medium-Sized Multinationals （MSMs） that belong to the sectors of mechanics and electronics, and that operate in dynamic international business markets. This work aims to investigate how international marketing strategies are based and maybe in some cases actually heavily dependent on the capacity to form and enhance skills in design, engineering, and production activities, and on the propensity to invest more resources in research and development （R＆D） activities as well as in activities that are more strictly speaking production based （manufacturing）. Undoubtedly, in a global and dynamic business, creative knowledge is one of the key resources that firms must possess in order to take up international strategies successfully. Creativity and innovation are strategic resources for all firms, including those of a medium size and even more for those that belong to the so-called ＂traditional sectors＂. This study also has the objective of examining the influence of the structure and composition of a technological MSMs international alliance portfolio in order to understand which forms of international collaboration are more opportunities for firms that aspire to increasing their know-how and taking up new and more sophisticated forms of exploratory innovation. The present work highlights the results of an empirical research that were carried out during the years 2000-2009. The research involved more than 80 firms of the mechanical and electronics department in the Marche region in Italy.     

Urbanization, Rural Land System and Social Security in China

I. IntroductionIn Chinas transition and economic development, temporary migration, lack of basic socialsecurity arrangements for migrants, and frequent administrative land reallocation in ruralareas and abusive rural land requisition in the process of urbanization are all importantpolicy issues both in academic research and on government agenda. Many policyrecommendations have been proposed to solve these issues.As to urbanization and migration in China, the Hukou (urban permanent residentia…     

Does Property Right Transformation Improve Township and Village Enterprises Performance？

I. Introduction The township and village-owned enterprises (TVE) in rural China have ever been both an engine of the Chinese economy and an important contributor to the success of Chinese economic reform. They were established by the township and village authorities in the 1980s to achieve three main purposes: to provide government revenue, to increase ruralresidents’ income, and to create employment opportunities for the tremendous rural surplus labor force. The extent of the achievements…     

Recognition of the Economic Security in the Form of Assurance Fund as a Protection to Landowners and the Economic

The increase of land fraud statistics in Malaysia＇s administration system shows that the legal security, at present, is not able to guarantee landowners in the long run. Furthermore, there are registered landowners who are not able to recover their losses due to the stripping of title done erroneously by the government. This occurs due to the Malaysia＇s administration system only practices two principles out of the three principles in the Torrens systems, which are the mirror principle and the curtain principle. The retention of these two principles for the last 40 years since the National Land Code came into effect on the 1st January, 1966, and this has revealed the failure of the government in guaranteeing the landowners in the form of the economic security. This can indirectly impact the real estate investment in Malaysia due to the complaints pertaining to the loss of trust in the Malaysia administration system. Based on the studies conducted, we can see that the recognition towards economic security in the form of assurance fund can impact the increase of real estate investment in Malaysia. This can bring benefits not only to land owners as a protection but also towards the increased securities legislation in the form of the Malaysia land administration system, which could attract in an increase in the interest of investors to invest in Malaysia. So, the interviews with the directors of the land office in Peninsular Malaysia, legal practitioners, and insurance companies have been conducted to support this study. The results of this study hopefully will assist our land administration system in creating a form of economic security in order to make our system more guarantees, efficient, and good governance in resolving matters related to land, especially to address the issue of fraud and forgery. Furthermore, it is expected to help the landowners and innocent buyer in seeking protection of economic loss is not due to their own mistakes and to increase the investment in Malaysia.     

Global Cities in Process of World Economy Net-Working and Transnationalization

Cities play a key role in the modem global economy. They became full-fledged （together with states, multinational corporations, and international economic organizations） subjects of international economy relationships; concentrated financial and commodity markets, enormous productive and innovative potential of humanity. The main reasons of transformation of economic importance of cities are their advantages in comparison with State economic systems. Labor and capital in urban economy systems are more mobile and productive; cities are more predisposed to create and commercialize innovations. Moreover, cities are easier to connect with international markets and world trade, which are able to reduce transport costs, to increase own investment attractiveness, and to rapidly form new types of business activities and forms of manufacturing organization. This study analyzes a current system of global cities, an intensity of inter-cities relationships, a potential of global urban system transformations in a future.     

Analysis of China＇s Renewable Energy Development under the Current Economic and Technical Circumstances

At present, the development of renewable energy relies mainly on government support. The government invests in a considerable number of projects to improve public welfare and to assist in poverty relief If China is to replace fossil fuels on a large scale with renewable energy sources, the production costs and prices of renewable energy must be brought down. All countries are facing the challenge of moving to a more secure and low-carbon energy system without weakening economic and social development. In this regard, China is facing an even greater challenge in terms of economic cost, as cheap coal remains the main energy form. Technical innovation and industrialization in the area of renewable energy is an important means of lowering cost. China is in for a period of high-speed development of its economy and the rising demand for energy is irreversible. If the technical progress and development speed of renewable energy lags behind the growth in demand, it will be difficult to realize the improvement of its energy structure.     

Characteristics and Problems of CLT

The present paper makes a short introduction about 8 kinds of teaching approaches and methods, later with a focus on the approach of Communicative Language Teaching (CLT). This paper first summarizes the characteristics of CLT, and after that gives the existing problems of CLT, and in the end a conclusion is made. The purpose of this paper is to make a clear understanding of CLT in order to provide some advice to carry out it.     

Challenges of accessing and utilizing funds by small and medium enterprises in tourism and hospitality industry in Nigeria

The role of small and medium enterprises in economic development cannot be overemphasized. The positive economic impacts of tourism are derivable in a destination economy when small and medium enterprises are actively involved in the provision of tourism services and facilities. This paper seeks to investigate through desk research the challenges of accessing funds by small and medium tourism and hospitality enterprises in Nigeria, the various attempts by the government to put in place viable institutions that would make funds accessible to SMEs in the industry and why the various attempts failed. The paper, in realization of the critical role of capital in enterprise development, proffers solution, which among other things is the immediate implementation of the Tourism Development Fund （TDF）.     

Energy Restructuring in China： Retrospects and Prospects

Thirty years have passed since China first adopted the policy of reform and opening up to the outside. Reviewing and appraising the advantages and disadvantages of the government＇s energy restructuring policy in the intervening years is of great importance to the consideration of future reform and opening-up efforts in this industry. Energy production and supply have been a major part of the national economic restructuring. In this paper, the author proceeds from three angles to review and assess the reform and opening-up efforts in the energy industry, and suggests some direction and priorities for its restrueturing in the future.     

Colors and its Expressions between English and Chinese

Scientific research indicates that seven million kinds of colors can be found in the world. However, color expressions are only limited to seyeral hundreds in classification People＇s actual life is closely related to color. There are many color expressions which reflect different culture psychologiesand emotional colorings both in Chinese and English. Color is a kind of vis＇ual effect. Because the mankindhas the same physiological mechanism and vision nerotic the color words areno different in essence, theoretically. However, because of various language culture, historical background, religious belief, mode of thinking, aesthetic temperament and mterest etc. in different nationality, people＇s impression of color and expression are different, and the associative meaning produced by the color has nothing in common with each other. There are different and various color words and expressions in English and Chinese. Sometimes it is diffcuh to find equivalent expression in one lanmaae. This paper discusses the difference between EngLish and Chmase color works by means of contrast indicating that due to different language habits, historic background and traditional customs and so on. There for it is useful to study and know the differences and is inductiv to overcoming cultural bgrridrs and promoting the cross-cultural communication.     

Managing complexity： A problem of chaos in fisheries policy

This work intends to present chaos theory （and dynamical systems such as the theories of complexity）, in terms of interpretation of ecological phenomena. The chaos theory applied in the context of ecological systems, especially in the context of fisheries has allowed the recognition of the relevance of this kind of theories to explain fishing phenomena and fisheries policies. It has permitted new advances in the study of marine systems, contributing to the preservation of fish stocks. This paper deals with the way how to manage fisheries taking chaos in account of the problem.     

Competitive Neutrality of the OECD Consensus Myth or Reality

This research paper gives into context ongoing changes in the balance of forces in the international markets caused not only by the crisis and the need to restore market-neutral internationally agreed system for state participation in the support for exports based on real economic criteria. The aim of this research is to demonstrate the changes of the balance of forces in the international markets. This paper presented the statistical data relating to development of GDP, indebtedness or value of exports or imports that the present changes in international markets and open discussion about the topic problem. This article recalled the basic principles of insurance and export financing with state support and also are presented current problems of implementation rules of the CONSENSUS. Due to the fact that state support for exports is an important internationally respected system it is necessary to overcome some doubts and bring to the system real market neutrality. Therefore, we ask whether are respected in practice the agreed principles of international state aid exports and what problems currently international markets and fundamentally different countries are struggling. It can be said that the rules CONSENSUS OECD has contributed to the creation of fair market conditions in international markets, but it can be also monitored over time to some extent being away from the demands of market neutrality. In view of these facts it can be considered as the basis of the current situation primarily to ensure a truly market and competitive neutrality of state support for exports.     

Analyzing of Investment Strategies of Local Companies in Azerbaijan： Problems and Solutions

For businesses to be viable nowadays they must be able to invest successfully. Globalization insists that businesses track new innovations and remain open to the idea of change. In addition, businesses need to stay informed of new technological trends, retain the shareholders they already have, and be ready to invest in innovative technologies when they are introduced. Through these strategies, businesses can be competitive in the marketplace. Short- and long-term planning is necessary to identify the direction of both investments and new projects and project ideas. Two major obstacles to implementing these pre-planned strategies are insufficient in-house resources and lack of access to loans. Companies need to be realistic about what they are capable of and make sure that all new ventures tie into the existing capabilities instead of risking starting a product or service unrelated to the existing business. Projects that are undertaken must be thoroughly researched as alternative options in case the need arises to change direction. Companies should be prepared with a plan and be prepared to move to a secondary plan if the first plan meets with obstacles. In this way, companies can be well informed, prepared, and still versatile enough to meet the needs of the globalized competitive market. A proposed article describes details of the theoretical part of the business investment strategy. The themes of the research are mainly about identification of economical perspectives of the investment, type of investment, identification of investment strategy overview, and its components as well as forming of investment strategy stages. Afterwards, in proposed investigation taken place analyzing of investment risks that might be faced by companies focusing on business investment and their investment capacity based on exist strategy. Research methodology included survey, interview, and critical literature. At the end of research work, it provided expected results of the development of the investment strategy of local companies situated in Azerbaijan.