The Tactics Adjustment of China for Utilizing the Foreign Capitals after Entering WTO

Since the reform and open the door policy were adopted in 1979, foreign direct investment has played an important role in Chinese economic development. The MNC （multi-national company） has set up branches and companies in different fields in China, brought advanced technology and management, and improved Chinese economic structure and level. In this paper, we first analyze the current situation and investment environment of China utilizing the foreign capitals, especially after China entering WTO; then bring some advices on how to adjust the tactics of utilizing foreign capitals in order to improve the efficiency of economic development.     

Research on CRM Strategy Implementation of Banking in China

With China entry into WTO and opening of the financial markets, banking industry will be sure to be faced with drastic competition from foreign banks that have apparent competitive advantages Over native banks in such aspects as capital, technology, operation, management and innovation. Especially, they have abundant experience in CRM. Up till now, native banks are in their first step on implementing CRM. To establish competitive advantage, native banks must change their operation idea and reinforce the construction of CRM. This paper analyzes CRM implementation characteristics of banking in China, put forward a new CRM strategy system of banking in China, and then points out some problems deserve attention in bank＇s CRM implementation     

External Dependent Economy and Structural Real Estate Bubbles in China

This study explores the relationship between external dependent economic structure, surplus monetary liquidity and real estate bubbles in China. Employing monthly data from 28 Chinese provinces over the period 2004-2005, we test whether real estate bubbles are caused by structural surplus monetary liquidity, ccontrolling other possible factors. Our empirical findings show that the growth of private savings in the banking sector, as an index of surplus monetary liquidity, ferments real estate bubbles regardless of the different development level across the 28 provinces.     

The Chinese Banking Sector： Challenges and Prospects in the Coming Years

The banking sector plays the critical function of financial intermediary in a nations economy.In the past few years, as a result of the rapid growth of the Chinese economy andaccommodating monetary policy, Chinas banking sector has experienced remarkableexpansion.1 However, many issues still remained in Chinas banking sector, such as assetquality, capital adequacy, management and risk control. These issues, if not appropriatelydealt with, may hinder the sustainable development of, and even im…     

Viability and the Development of China＇s Capital Markets

The paper analyzes the abnormal phenomena in China‘s capital markets and provides a critical review of the existing hypotheses about the phenomena. The paper argues that thelack of “viability” among most of the listed SOEs is the primary cause of the problems in China‘s capital markets. The paper also applies a consistent framework to analyze the relationship among viability, SOEs and the capital markets, and makes some policy proposals for improving China‘s capital markets.     

Agro-food Circulation System of Chinese Large Cities

Our research studies the organization structures of the agro-food circulation system in Chinese cities. Based on the analysis of three kinds of system patterns such as New York, Tokyo and Paris, we frame a system which is different from that of the three cities above and suits to the situation of China, what the composition should be, what the function every part should have, and how these parts work together？ All answers of these problems are given out in this paper.     

Analysis on competitiveness of Chinese commercial banks

This paper analyzes the operation environment of Chinese commercial banks, including the changes of macro-economy environment, the development of financial markets, the changes in supervisory environment, the implementation of broadly opening policy, the restructuring of competition and the change of customers＇ requirements. Based on constructing the analysis framework on competitiveness of Chinese commercial banks, we can analyze and get some main conclusions. This paper also presents the finance appraisal for Chinese national commercial bank on capital adequacy, assets quality, profitability and liquidity.     

An Analysis of State-Owned Banks’Behavior in NPL Disposition

I. NPL Asset Settlement in China’s State-Owned Banks Non-performing loans(NPLs)represent the most serious problem hindering China’sbankingsystem, especially the fourstate-owned banks (SOBs).According to statisticsfrom China’sBanking Regulatory Commission (CBRC), the banking system has accumulated NPLs tothevalueof3,158 billion RMB,whilethefourSOBsaccountedfor51 percentofthattotalbytheend of 2003 (seeTable 1). While the banking sector disposeslessthan 300 billion NPLevery year…     

Causes and Enlightenments on M＆A in International Banking

In the past few years, the wave of M＆A in international banking is changing the banking structure profoundly. Banks tended to be more international and more multifunctional through M＆A. As a member of WTO, financial institutions of China are facing more and more challenges by international banks. This paper analyses the causes and characteristics that affect M＆A in international banking and offers some new ideas for banking in China.     

Research on the Application of Customer Relationship Management in Chinese Banking

Customer Relationship Management （CRM） can help banks in China facing the challenge of intensive market competition to enhance their core competence. With the application of CRM, Chinese banking will provide high quality financial services to customers, thus strengthen market status of banks in China.     

Study of Chinese iron and steel industry on continuous development

This paper analyzes the development status of Chinese iron ＆ steel industry, points out the problems that exist, and describes the development prospect of Chinese iron ＆ steel industry. It lists the reasons that we must choose the means of continuous development on the way to realize the change from an iron ＆ steel big country to an iron ＆ steel powerful country. Finally, some suggestions for the stable and healthy development of Chinese iron ＆ steel industry are put forward in the paper.     

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.     

The Evolutionary Game Model of Enterprise Competition Strategy Considering Market Share

In this paper, we analyze the limitation of rationality, and on basis of Cournot model, we give a Cournot model with double objectives considering market share （output）, and divide the enterprise competition into two stages： the first stage, the Cournot competition game with double objectives considering market share; the second stage, the evolutionary game based on Nash equilibrium strategy. In an indirect evolutionary approach, we obtain the Evolutionary Stable Strategy （ESS） of CE model, analyze and compare the different results of C model and CE model derived from different hypotheses. CE model is an extensive form of conventional Cournot model, whose structure and equilibrium result is helpful to give more effective explanation and forecast to actual situation. The study approach in this paper, to some extent, is generally applicable to other game models.     

Emerging Impact of Chinese Commodity Futures Market on Domestic and Global Economy

In this paper we construct a set of indices that capture the special features of the Chinese commodity futures market for the period from January 2000 to December 2011 to analyze the general properties of China＇s commodity futures market. Using these indices we investigate the risk premiums of Chinese commodity futures and verify that the commodity futures can act as an effective diversification tool for Chinese asset management. It is found that the commodity futures can hedge both expected and unexpected inflation in China, and agricultural commodity futures are found to signal inflation 2 months beforehand. Finally, we explore the relationship between Chinese and US commodity futures markets in the years 2000 and 2010, and find that their interactions strengthen over time. Our research reveals an increasingly important role of the Chinese commodity futures market in both the domestic and the global economy. Some policy changes are suggested in response to this trend.     

Financial Development, Economic Growth and Adaptive Efficiency： A Comparison between China and Pakistan

The strong economic growth in China is difficult to reconcile with its inefficient financial system. The puzzle of China＇s financial development and growth can be explained through a dynamic criterion of adaptive efficiency, rather than through allocative efficiency. Using the framework of an autoregressive distributed lag model, the present paper tests the hypothesis that the GDP growth rate is dependent on financial development along with other variables in China and Pakistan. The hypothesis cannot be rejected in both cases. However, the results show that economic growth has a negative relationship with credit to the private sector in China. We conclude that financial development is a source of China＇s high growth rate and that the banking system is still under an evolutionary process, involving the pursuit of social objectives instead of the sole objective of profit maximization. Our results provide some implications for other developing countries like Pakistan.     

The Planning, Building and Developing of Logistics Park in China： Review of Theory and Practice

This paper discusses the background of theory and practice of the planning, building and developing of Logistics Park in China in detail, summarizes the current situation of Logistics Park＇s development in China, and points out the mode which can be adopted in developing Logistics Park in China and some problems which should be paid attention to.     

Actuality Analysis of the Development of Industry Association in China and its Countermeasures

With China＇s entry into WTO and the globalization of the market economy, changing the old management mode of administration of Chinese employer＇s organization as soon as possible and building the function mode of modem market mechanism have already, become the urgent task of China＇s economic reform and development. Based on the current situation of the development of industry association in China, this paper lists the problems and difficulties faced in the development of employer＇s organization at present and puts forward corresponding countermeasures and suggestions by analyzing the problems.     

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.     

Chinese Stylized Sterilization： The Cost-sharing Mechanism and Financial Repression

This paper attempts to explain why sterilized intervention was so successful and sustainable in China during the first decade of the 21st century.We argue that the Chinese Government established a sterilization cost-sharing mechanism among the People’s Bank of China, commercial banks and the household sector.On the one hand,Chinese commercial banks have to assume some of the sterilization costs by purchasing low yield central bank bills and maintaining high levels of required reserves.On the other hand,Chinese households assume some of the sterilization costs by bearing negative real deposit interest rates.The costsharing mechanism under financial repression prevents a huge quasi-fiscal loss by the People’s Bank of China as well as high inflation.However,Chinese households have become victims of this financial repression.Faced with the pressure of changing the growth model from investment-driven to domestic consumption-driven,the interest rate will have to be liberalized eventually,which will,in turn,make sterilized intervention unsustainable.     

Research on the Stock Price Transmission of China＇s Monetary Policy

With the further development of the economic reform of China, the stock price in the monetary policy transmission deserves more and more attention of the experts and the scholars. This paper studies the stock price transmission theory in the monetary policy transmission, analyzes the problems of the stock price transmission in China, and in the end, puts forward some advice on policy for the purpose of exerting effectively the influence of China＇s stock price in the monetary policy transmission.