The Analysis on the Development of China＇s Foreign Direct Investment

Foreign Direct Investment （FDI） is one of the most important ways that China makes use of the foreign capital, an important path that Chinese enterprises participate in the international competition deeply and also an important means that our enterprises promote their competitive ability. Absolutely, our current foreign direct investment is still in the primary stage, short in quantity, and small in scale. This kind of situation is quite inappropriate to China＇s international positions and management level. The main problems existing in our foreign direct investment are analyzed in this paper, the relevant counter measures are also put forward.     

Does Foreign Direct Investment Provide Desirable Development Finance？ The Case of China

Foreign direct investment (FDI) is often considered as a cost-effective and risk-reducing source for development finance. This paper,however,shows that FDI finance often entails underestimated risks and costs. FDI might react sensitively to business cycles and might not be as "permanent" as conventionally believed. FDI might also accelerate other forms of capital flow in times of financial difficulties and,hence,destabilize financial order. In addition to the risks,compensations to FDI and the high import-dependency of FDI-related trade lead to a considerable drain on the balance of payments. Moreover,the reliance on foreign capital for development finance is equivalent to building a Ponzi financing scheme and,therefore,is unsustainable. Given the fact that FDI financing is risky and costly and China does not lack savings,it is suggested in the present paper that China's efforts in attracting FDI should not aim at external capital provisioning.     

China＇s Foreign Trade and Investment： An Overview and Analysis

This study discusses the current development of China‘s trade and investment and their related issues. It presents data consistent with the hypothesis that Chinese firms try, to overcome market impediments, such as capital account inconvertibility and differential tax treatment between foreign and domestic firms, through trade and investment. Various challenges and opportunities related to China‘s future trade and investment are also discussed.     

A Study of Sustainable Development of China＇s State-Level Economic and Technological Development Zones

State-level economic and technological development zones (ETDZs) are products of China‘s reform and opening-up policies and a new engine of growth for the Chinese economy. They have made tremendous contributions to the development of the Chinese economy. However,some problems have emerged in the course of this progress and new challenges are still lying ahead. Sustainable development is possible only when the strategy and objectives of development are adjusted, when the integrated investment environment is optimized, when industries are upgraded, when technical innovations are made, when independent innovation capabilities are lifted, when the mode of economic growth is changed, and when innovations are made in government management.     

Development in China＇s Foreign Trade： 2003-2012

China＇s foreign trade has entered a new stage, marked by some profound changes since 2003. After 5 years ＇consecutive high growth, China＇s foreign trade experienced a significant slowdown in growth following the onset of the global financial crisis in 2008. The purpose of this article is to present a review of the development in China＇s foreign trade over the past l O years, and to explore important changes that have taken place during this period of time. A majorfinding of the presentpaper is that the traditional forces driving the high export growth in China, that is, low-cost labor, low-cost resources and low-cost money, have been disappearing. The policy implication is that over the next l O-15 years, the most important conditions for sustaining high export growth will be promoting the development and export of private enterprises in traditional heaw industries and high-technology industries, and relying on technological progress and high produc6vity to propel export expansion.     

Geographical Distribution of Foreign Investment in China：Industrial Clusters and Their Significance

The incorporation of massive amounts of foreign direct investment (FDI) has been a major motive force behind the high-speed growth of the Chinese economy over the last decade. A high degree of geographical concentration in certain of this country is a salient feature of foreign invested enterprises (FIEs). FIEs in some industries are closely clustered in industrial zones ranging from several kilometers to more than 100 km in diameter. Such industrial clusters are a remarkable phenomenon among FDI industries. High FDI concentration is having a striking impact on the competitiveness of the enterprises involved and the regions where they are located.     

Foreign Manufacturing Investment in China： The Role of Industrial Agglomeration and Industrial Linkages

This paper investigates the forces that determine the industrial distribution of foreign manufacturing investment. It highlights the importance of industrial agglomeration and industrial linkage in attracting foreign investment to manufacturing industries. Using panel data for two-digit manufacturing industries in Beijing during the period of 1999-2004, this study finds that geographically agglomerated industries with strong intra-industrial linkages are indeed attractive to foreign investment. Previous foreign investment has led to the current industrial concentration or foreign investment. Investors also favor capital-intensive and technology-intensive industries, and they tend to be attracted to the most profitable and exporting industries, but avoid industries with high real labor costs and high entry barriers. Competitive local industries that possess comparative advantages are critical for attracting foreign investment. The existence of industrial clusters certainly enhances a city＇s attractiveness to foreign investment.     

A Study on the Development Trend of the Management of International Resort Village in China

Since the period of the 20^th century the world tour industry has taken-offs for, tourism has already replaced the traditional industrial sections, such as petroleum, steel and automobile, etc, and becomes the biggest industry in the world. It is in the business of the last few years that international resort village raises and develops, which is the inevitable outcome that the tour industry develops to a certain stage. Therefore, it is very important to research the management of the development trend of international resort village in the 21^st century China.     

Study on the Development of Coke Industry in China

The paper introduces the basic situation of coke industry of China, and then it puts forward the main problems existing in the coke industry. At last, it points out the current policies and measures regulating coke industry development and the coke industry＇s developing orientation.     

Exporting National Champions： China＇s Outward Foreign Direct Investment Finance in Comparative Perspective

We examine the extent to which Chinese development banks have financed the globalization of China＇s ＂national champion ＂firms： specifically, through outward foreign direct investment （OFDI）. We create a database of Chinese fnance for OFDI and compare our results to the existing literature and available data on Japan, Korea and other Asian nations. We estimate the total value of China＇s OFDI finance from 2002 to 2012 at US$14Obn. As a percentage of total OFDI, China＇s lending is roughly three times higher than Japan ＇s, the previous global leader in OFDl finance. We identify two major reasons for China＇s high （31 percent） ratio of OFDl lending to total OFDI. First, China has a greater incentive to give OFDI loans than Japan or Korea ever did because its borrowers are statelowned so it can more easily channel funds to targeted areas. Second, China has a greater capacity to give OFDI loans because it has significantly higher savings and foreign exchange reserves than Japan and Korea.     

How Does Corruption Influence the Effect of Foreign Direct Investment on Economic Growth?

Abstract

We investigate the effect of foreign direct investment (FDI) on economic growth in 130 countries from 1995 to 2008, considering the role of corruption in each country as an absorptive factor. The estimation results indicate that although FDI alone does not promote economic growth, it has a significant effect on economic growth if the interaction term between FDI and corruption is considered. Specifically, FDI has a positive impact on economic growth when corruption is severe, but a negative impact if corruption is below a certain threshold.     

Adjustment of Macro-economic Development Pattern on the Development of China＇s Agriculture

The paper argues that the development of China＇s agriculture is constrained by the industrial bias macro-economic development patterm The role of agricultural development in a dual economy is also studied. It is argued that a fundamental adjustment to the macro-economic development pattern is needed to balance industrial and agricultural development.     

The Choice of the Way for China＇s Economic Sustainable Development under the Restrictions of Energy Resources

Energy restrictions are becoming the restrictions on China＇s industrialization and economic sustainable development. This paper states the scientific role of China＇s economic sustainable development mode and makes concrete polices and suggestions about freedom of energy restrictions and the establishment of Mode C based on empirical research on the series of indices for energy measurement.     

Life-insurance Efficiency in China： A Comparison of Foreign and Domestic Firms

The Chinese life-insurance industry has experienced major structural changes in recent years, primarily because of increasing demand and the entry of foreign insurers. Although the market is clearly booming, the efficiency of its growth and development is unclear. In this paper, we evaluate the efficiency of life insurers operating in China and compare foreign firms with domestic firms. We find that foreign insurers have not brought efficiency into the Chinese market, and that the market is still dominated by domestic giants. However, the gap between foreign insurers and domestic insurers is narrowing. After testing hypotheses regarding scale economy, technical progress andpotential improvements, we discuss several issues＇ of importance to life insurers, market investors and government regulators.     

Low Carbon Development： Challenges for China as a Rapidly Industrializing Developing Country

I. Rapid Industrialization and Need for Low Carbon DevelopmentIndustrialization is characterized by a rapid process of urbanization, construction ofinfrastructure,and transitionfromlaborto capitalto knowledgeintensiveindustrialstructures.Iftheseindicatorsareused,itisevidentthatChinaisstillin theearly stagesofindustrialization.In 2003,GDPpercapitaexceeded US$1,000 forthefirsttimein history (NBS,2004).Despiteshortages ofelectricity and increases in theprices ofraw materials such as steelan…