A study of Hong Kong Businessmen's perceptions of the role “Guanxi” in the People's Republic of China

Guanxi is perceived as a major determinant for successful business in China. This research paper investigates the importance of Guanxi from the Hong Kong Businessmen's viewpoint. It confirms previous findings in this area and adds on new dimensions. Therefore, practitioners and academics may further refine their knowledge in this subject.Leung, T. K. P. is an Assistant Professor of Hong Kong Polytechnic University. He specializes in industrial marketing and marketing in China. His current research interests include issues in Guanxi, networking in China, and Chinese negotiation. He has published in referred journals related to the PRC market.Wong, Y. H. is an Assistant Professor at Hong Kong Polytechnic University. He teaches courses in sales management and international marketing. His current research focuses on issues of relationship marketing and Guanxi model. His recent publications include articles in preferred journal and books.Wong, Syson was a lecturer of Hong Kong Polytechnic University and is now a business consultant. She specializes in quantitative methods and China business. Her current consultancy works include a big project in China.     

The foreign exchange exposure of Chinese banks

Using the capital market approach and the equity price data of 14 listed Chinese banks, this empirical study finds that there is a positive relationship between bank size and foreign exchange exposure. This relationship may reflect the larger foreign exchange operations and trading positions of larger Chinese banks and their significant indirect foreign exchange exposure arising from impacts of the renminbi exchange rate movements on their customers. Empirical evidence also suggests that the average foreign exchange exposures of state-owned and joint-stock commercial banks in China are higher than those of banks in Hong Kong, notwithstanding their limited participation in international banking businesses compared with their Hong Kong counterparts. It is also found that negative foreign exchange exposure is prevalent for larger Chinese banks, suggesting that an appreciation of the renminbi tends to reduce their equity value. It is therefore likely that the banking sector's performance will be hampered. Together with the fact that decreases in equity values generally imply a higher default risk, the effects of different scenarios of renminbi appreciation on the default risk of Chinese banks should therefore be closely monitored.     

The ASEAN–Korea Trade In Services (AKTIS) Agreement: Its Impact on Indonesia and Other ASEAN Countries

To strengthen trade in services between ASEAN and Korea, in 2009 both sides signed and implemented the ASEAN–Korea Trade in Services (AKTIS) agreement. This article is the first to assess the trade implications of this agreement for Indonesia and other ASEAN countries. Despite the increasing volume of ASEAN–Korea trade in services since 2009, it is hard to say whether AKTIS was the only factor behind this encouraging growth. The agreement’s potential trade impact is, however, quite substantial. Given the importance of enhancing further trade in services between the ASEAN countries and Korea, we propose a number of specific liberalisation measures that Indonesia and other ASEAN countries could take to further strengthen such trade with their Asian neighbour.     

Testing Monetary Policy Intentions in Open Economies

Temple (2002) argues that the inflation level used in Romer (1993) lacks power in revealing the policy intentions of monetary authorities, Temple also points out that Romer's use of the openness-inflation correlation cannot be explained by time consistency theory. In this article, we demonstrate that more open economies experience less inflation volatility and persislence. We attribute our findings to the hypothesis that monetary authorities in more open economies adopt more aggressive monetary policies. This pattern emerges strongly after 1990. Our results indicate that the near-universal regime shift in 1990 is not just a simple process of increased monetary policy aggressiveness, but an increased response to economic openness.     

China＇s Economy in 2005： At a New Turning Point and Need to Fix Its Development Problems

I. High Growth, Higher Stakes China’s economy in 2005 experienced another year of surging growth, with its total GDP(based on recent revision) expanding at 9.9 percent to reach 18.23 tn yuan (US$2.26 tn).1 Growth in 2005 was slightly lower than the 10.1 percent in 2004; but it was nonetheless very high. Sustained high growth is accompanied by potential high risks, and it inevitably raises the issue of future sustainability of high growth. Although the Chinese economic policy-makers in 200…     

Political travel constraint: The role of Chinese popular nationalism

This study extends the leisure constraint model by examining the role that popular nationalism has in Chinese outbound travel. Using a case study approach based on the 2012 Diaoyu/Senkaku Island Incident between China and Japan, the study demonstrates how Chinese popular nationalism has the potential to shape the geopolitical environment of all outbound Chinese tourism. The study proposes a new model that can be used to illustrate how popular nationalism may affect bilateral tourism in other settings. Findings of this study offer important insights for both scholars and practitioners contributing to the understanding of the impact of Chinese popular nationalism on bilateral tourism flows.     

Competencies of training professionals in the Hong Kong hotel industry

ABSTRACT

This study aims to investigate the competencies of training professionals in the hotel industry in Hong Kong. A survey questionnaire was adopted. Seventeen competencies were derived by factor analysis. Six essential competencies are identified, whereas “people skills and commitment” and “awareness of quality” are the most important competencies, while another 11 competencies are highly preferred. This study provides original criteria for hoteliers and human resources professionals to facilitate the recruitment process and aid training professionals in developing core competencies in hotel industry employees. Theoretical and practical implications of the findings are presented.