An Analysis of Southeast Asian Firms＇ Investment in China

Economic cooperation between China and Southeast Asian economies is increasingly attracting the attention of policy-makers, scholars, and practitioners. Firms from Southeast Asia have been playing an important role in China‘s utilization of foreign direct investment, though most of these firms have been viewed as small, labor-intensive, and ordinary in technology. This paper reveals one important dimension of economic cooperation between China and Southeast Asia. It investigates the factors that influence Southeast Asian firms‘ investments in Guangdong, which is one of the largest provinces in China in terms of utilization of foreign direct investment, and it tries to answer the question of what make Southeast Asian firms invest in China in a large scale and in the way of advancing waves.T he research outcomes contribute to the knowledge of the changing economic relations between China and Southeast Asia.     

Board Structure and Firm Performance：An Empirical Study of China‘s Private Firms

Ⅰ. IntroductionMany studies have attempted to empirically investigatethe impact of board composition on firm performance.However, available evidence is mixed and the conclusionsremain ambiguous. One reason for this ambiguity is thatmost of the board composition studies are conducted usingsamples of large, publicly-held firms, where the linkage     

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.     

Inflation and Economic Growth in China： An Empirical Analysis

Using official provincial data for gross provincial product, consumer price index and other explanatory variables from 1986 to 2006, the present paper investigates the nonlinear effects of inflation on economic growth in China. The main finding of the study is that the inflation threshold effect is highly significant and robust in China. Above the 2.50 percent threshold, every 1‐percentage point increase in the inflation rate impedes economic growth by 0.61 percent; below this threshold, every 1‐percentage point increase in the inflation rate stimulates growth by 0.53 percent. This indicates that high inflation harms economic growth, whereas moderate inflation benefits growth. We suggest that China should maintain a moderate inflation rate for long‐run growth.     

Pass-through Effects of Global Commodity Prices on China＇s Inflation： An Empirical Investigation

The present paper uses a two-step approach to estimate the pass-through effects of changes in international commodity prices and the RMB exchange rate on domestic consumer price inflation in China. We first estimate the pass-through effects of international commodity prices on producer prices and then estimate the pass-through effects of producer price inflation on consumer price inflation. We find that a l O-percent increase in international commodity prices would lead to China＇ s producer prices increasing by 1.2 percent 3 months later, which in turn would increase China＇ s domestic inflation by 0.24 percent over the same period. However, a 10-percent appreciation of the RMB exchange rate against the US dollar would help to reduce increases in producer prices by 4.4 percent over the following 3 months, which in turn would lead to a 0. 89-percent decline in consumer price inflation over the same period. Our findings suggest that appreciation of the RMB in an environment of rising global commodity prices and a weak US dollar could be an effective instrument to help contain inflation in China.     

Regional Economic Growth and Spillover Effects： An Analysis of China＇s Pan Pearl River Delta Area

The Pan Pearl River Delta(PPRD) Regional Co-operation Framework Agreement was signed in 2004.It aims to bring prosperity through partnership among nine Chinese Mainland provinces and China ’s two special administrative regions.In this paper,we use a dynamic panel data model to examine the economic growth of the PPRD economies from 1985 to 2009.Our analysis confirms the existence of regional growth spillover effects in the PPRD area.Our results also show that economic growth spillover effects of non-PPRD regions on the PPRD regions are greater than those among the PPRD members themselves.These findings imply that economic integration between Chinese provinces has generated considerable spillover effects on regional growth.However, the anticipated benefits of the implementation of the PPRD agreement have not been realized thus far.Therefore,greater effort should be made to promote further economic integration among these members so that their local economies can benefit from the positive spillover effects.     

Analysis of China＇s Overheated Economy and Macroeconomic Policy Options

Based on macroeconomic analysis since 2003, this article holds mat a trena towaras overheating has surfaced in China‘s economy. China‘s rapid economic expansion has affected the quality of its growth, with rising material and energy consumption and imbalanced economic structure as the main manifestations. Regarding macroeconomic policy options in 2004, decision-makers should shift the policy focus from control of deflation to prevention of inflation; the pace of economic growth should be properly set; a balance between consumption and investment should be strengthened by controlling excessive expansion of investment, and industrial restructuring should be conducted in a coordinated manner on the basis of properly controlling the overly rapid indastrial growth; policies should be continued to boost exports and sustainable growth of foreign investment; and more efforts should be made to accelerate the change in the mode of economic growth.     

International Accounting Firms in China— An Empirical Research on Competition and Cooperation

This article bases on game theory, analyzing the pattern of competition and cooperation of domestic accounting firms and international accounting firms in the view of asymmetric information game. The authors will use empirical research method to analyze equilibrium associating the auditing marketing situations, and give some points on Chinese accounting market development strategy in face of the world＇s challenges.     

What＇s So Special about China＇s Producer Services？ An Input-output Analysis

In the present study, five stylized facts about China ＂s producer services are established through international, intersectoral and intertemporal comparisons based on input --output tables. First, the overall service input ratio is the lowest in all the sample economies. Second, most producer services are supplied by the traditional labor-intensive sectors. Third, manufacturing is the biggest user of producer services, and service industry is the second, while the opposite is true for most of the other sample economies. Fourth, unlike other economies, China ＂s ＂R＆D＂ is characterized more by consumer services than producer services. Fifth, China has fairly lower service input ratios in almost all the industries. The backward and forward linkages coefficients are both smaller for ＂real estate activities＂ and ＂finance and insurance. ＂＂ Policy reform should focus not only on specific producer services but also on reducing obstacles that are inhibiting the balanced development of diverse producer services that will help China to optimize its economic structure.     

Analysis of China＇s Foreign Trade Growth and Discussion of Related Policies

China’s foreign trade experienced three consecutive years of super-speed growth in 2002-2004, even though the country was stricken by the SARS epidemic in 2003 and power shortages in 2004. What has gone beyond expectations is that the exports trade still grew with momentum after the central government lowered the export rebate rates by an average of 3 percentage points, starting from January 2004. Such growth momentum is apparently associated with external demand and the performance of the domestic macroeconomy, and even more associated with a series of support policies. This paper tries to raise issues issues associated with these policies on the basis of an analysis of foreign trade performance in 2002-2004, in order to enhance understanding of the advantages and disadvantages of these policies, and to recommend a new line of thought for improving policy arrangements for the growth of import and export trade and for the harmonious development of the macroeconomy.     

An Empirical Analysis of Apple Juice Industry of Shaanxi Province in China

The paper analyses the situation of international competitiveness and the comparative advantage of apple juice industry of Shaanxi province. It concludes that apple juice industry of Shaanxi province is characterized by abundant natural resources, cheap labor forces, inefficiency of production, small scales, low growth rate in exporting, low prices in exporting and no famous brand. So, the apple juice industry is faced with challenge and opportunity. Based on this, it puts forward such policies as cultivating new type of apples, establishing the bases, making innovation by the help of institutes and universities, actively implementing authentication and setting up supervision system, and finding a worldwide partner so as to increase international competitiveness of apple juice industry of Shaanxi province.     

China＇s New Economy： An Innovation Perspective

With the globalization of economy, innovation has become the prerequisite for enterprises to keep pace with the times and to survive. Starting from an analysis of U.S.New Economy, the paper argues that innovation is undoubtedly the outcome of social economic development. The innovation of china＇s economy calls for the removal of conceptual, cultural and SYStematic constrains, while there will be a great test for people to accept, bear and adapt to innovation.     

China＇s Labor Transition and the Future of China＇s Rural Wages and Employment

This paper contributes to the assessment of China＇s rural labor markets. According to our data, the increase in off-farm employment that China experienced during the 1980s and 1990s continued during the 2000s. Our analysis shows that migration has become the most prevalent off-farm activity, although the destination of migrants is shifting from outside of one＇s province to destinations closer to home. The present paperfinds that large shares of male and female individuals, especially those under 40 years, are working off the farm. These findings represent an important contribution to the labor economics field. First, the results of the present paper reveal that the labor transition from the agricultural sector to the non-agricultural sector for key segments of China＇s rural labor force is nearly complete. Second, although a large share of China ＂s rural labor force work in agriculture, most of these workers are older men and women （and likely would not be willing to take low-wage, labor-intensive jobs）. Third, the rising unskilled wage rate in China is partially a result of the tightening of the labor force in the young age cohorts. Finally, due to factors associated with the one child policy and other demographic transition forces, successive age cohorts will continue to fall in absolute number in the coming decade. Assuming China＇s growth continues, we expect to see further wage increases since it will take higher wages to coax more workers to work off the farm.     

An Empirical Analysis on Regional Influential Factors of Housing Prices in China

Using the Pooled Data of housing market of 30 provinces during 1995-2003, this paper investigates the micro-level influence factors of housing prices fluctuation in China. We have found out that income, cost and lagged housing prices are important factors to housing prices fluctuation. The influence factors do not change with time, but vary in different regions. In addition, cost and lagged housing prices are not only the influence factors of the state housing prices, but also the notable impact factors to each region. Thus, we suggest that the government should take different policies in different regions, control the demander and supplier and guide fight expectations.     

Analysis of Effect of Property Rights on China＇s Reform

This paper analyzes the effect of property fights institution to reform of China from the angle of the three meanings of property fights. The second and the third meaning are emphasized. The thesis points out that state-owned enterprise is an institutional arrangement in the pre-reform age of China. The agent of state-owned enterprise just has part of the property fights to operate the property, So the institution is lack of stimulation to the agent. The result is low efficiency of state-owned enterprise. Furthermore, social resources are wasted, and the economy grows slowly. The conclusion is that clear and complete institution of property rights will guide resources to effective allocation, and accelerate the progress of reform in China.     

An Analysis and Forecast of China‘s Economy in 2002—2003

Supported by strong domestic demand, China's economy maintained rapid growth through recent years. In 2002, the first year after China's WTO entry, growth has exceeded all expectations. GDP in the first three quarters of 2002 reached 7.1682 trillion yuan, up 7.9 percent over the same period of last year. This outcome is attributable to a number of factors including the global     

China’s Corporate Governance and Reforms

I. IntroductionSince 1978, China’s economic reforms have called for an incentive mechanism to beincorporated in the state-owned enterprises (SOEs), while the reforms have demonstratedconsiderable success. In the early 1990s, the Chinese government took further steps andbegan to list SOEs on stock exchanges to raise external capital and improve their efficiency.Corporate governance still remains an important issue in China as shown by the largenumber of corporate failures and scandals in r…     

Home Market Effects of Foreign Trade in China＇s Manufacturing Sector： Analysis Using International Standard Industry Classification Panel Data

In this paper,we use 2002-2008 International Standard Industry Classification two-digit bilateral trade panel data for manufacturing industries in China and the OECD countries to test for the existence of home market effects.We find that significant home market effects exist in 8 out of 12 industries.These industries include the food,beverage and tobacco industry, wood products,the paper products and printing industry,chemical products,other nonmetallic mineral products,machinery and equipment,transport equipment,and miscellaneous products and waste resources recycling industry.Textile,clothing and leather manufacturing,oil refining and nuclear fuel manufacturing,rubber and plastics,and basic metals and fabricated metal products industries do not exhibit home market effects.Indeed, strong reverse home market effects occur for oil refining and nuclear fuel manufacturing and for the rubber and plastics industry.The empirical results reveal that certain industries benefit from new export opportunities due to the expansion of domestic demand in China.