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In this paper, a Markov transfer matrix is used to characterize exogenous sudden shocks, and a closed economic DSGE model including a financial accelerator is constructed to simulate the impact of sudden shocks on China's macroeconomic performance. The study found that: (1) Sudden impacts reduce output, investment, consumption, capital, technology, and enterprise value, but improve labor, inflation, and risk premium, thus weakeningmacroeconomic risk resilience. (2) The impact of sudden shocks on macroeconomic variables, from large to small, is net worth, technical level, labor, inflation, investment, capital, output, and external premium. (3) It is appropriate for the government to adopt the principle of combining broad finance measures and tight currency controls in order to improve the risk resistance ability of macroeconomic operations. [ABSTRACT FROM AUTHOR]

This paper uses industry and province specific Chinese industrial data to demonstrate a potential causal link between two strands of the FDI literature. The first strand suggests that the impact of spillovers from inward FDI is less robust in middle-income economies than in either high-income or low-income economies. The second strand suggests diminishing returns of inward FDI on horizontal labor productivity in low-technology industries but not in high-technology industries. This paper suggests a link between these two phenomena. Specifically, if both FDI intensity and industry mix vary with the level of economic development, then an industry-dependent relationship between inward FDI and horizontal spillovers could cause middle-income economies to derive fewer benefits from inward FDI than either high- or low-income economies. This paper also verifies the curvilinear relationship between FDI in low-technology industries and horizontal labor productivity without relying on problematic FDI from Hong Kong, Taiwan and Macao. [ABSTRACT FROM AUTHOR]

Purpose - Transformations taking place in China are of crucial importance in the development of the world economy. The international community is turning its attention to China's move towards a market economy and assessing the likely impact on the years ahead. This paper aims to plot the evolution of administrative reforms in China with particular reference to the state (and therefore public sector), because the modernization of the state is an issue that will persist into the future, and because the state itself was driving the country's transformation towards a market economy in a deliberate way. Design/methodology/approach - The paper revisits the debate on administrative reforms at different levels, i.e. fiscal, budgeting, government organizations, and public sector units (PSUs). In addition to reconstructing the evolution of norms and procedures as part of deliberate strategies by the center, the paper also investigates how actual practices at the micro level have followed this process of reform, with reference to the administration of cultural heritage at the municipal level, based on a field research project. Findings - A lack of understanding of the role played by actual accounting transformation seems to characterize the current debate on policies. Serious discrepancies can be found between expectations and actual changes; between macro and micro policies, and micro practices. Originality/value - An holistic focus on various trend of reforms is taken, looking at debates that are usually separated, also linking them to actual changes in accounting practice. [ABSTRACT FROM AUTHOR]

China's public finances have played an important part in the country's economic performance. As the focus of development strategy changes from exports to domestic consumption and to the establishment of a harmonious society, China's public finances are now called upon to play a different, and even more important, role in economic and social development. The papers in this symposium address some of the issues arising from the new policy context. In addition to discussing the need for a change in China's development strategy, particular focus of the papers in this volume of the symposium is on the continuing need for further reforms in the taxation system and intergovernmental fiscal transfers. [ABSTRACT FROM AUTHOR]

The article presents an introduction to a series of responses to an article on Chinese capital. Respondents to the original article include Wing Woo, William Nordhaus, Oliver Blanchard, John Cochrane, and Gary Jefferson. Details about China's economic conditions and economic policies are also included.

The article presents comments and discussion related to a paper presented at the Brookings Institute titled "The Sources and Sustainability of China's Economic Growth," by Gary H. Jefferson, Albert G. Z. Hu, and Jian Su. Among his criticisms of the article, Barry P. Bosworth feels that international comparisons in productivity must be handled with care, as levels of value added per worker across regions may differ. Gustav Ranis applauds the aims, scope, and energy of the study, but professes disappointment in its execution, particularly with the definition of technological catch-up expressed in terms of labor productivity differentials. Detailed criticism by both responders is offered, as is other discussion from William Nordhaus, David Backus, and Wendy Dobson.

Twenty-five years of economic reform has propelled China to the center of the world's economic stage. Based on current trends, in the foreseeable future China is likely to become the largest economy in the world. China's dramatic growth may be envied by other developing economies, but for management scholars it presents an exciting intellectual puzzle. In this paper we describe the empirical context of China today, review contemporary research on Chinese management and organizations, and describe the nine papers in this special issue of Organization Science. The papers provide a close examination of how massive corporate transformation in China has influenced inter firm relationships, affected opportunity structures and social processes, and modified individual behaviors within firms. We identify the many paradoxes in this intellectual terrain and present a guide to the challenging research agenda ahead. We recommend that scholars of organizations think deeply about China as a context and consider China as an empirical setting where the boundaries of existing knowledge on organizations can be extended. [ABSTRACT FROM AUTHOR]

Poverty has remained one of the prominent challenges of humanity. Different solutions have been suggested to curb poverty. Economic growth and financial development are two such crucial tools for overcoming poverty, as frequently pointed out by economists. These tools work through the so-called trickle-down hypothesis, which contends that a well-functioning financial system would enhance poverty reduction by promoting economic growth. One country that appears to have manifested this hypothesis is China. However, the empirical test of the trickle-down hypothesis for China is scant. In addition, most of the existing studies have failed to account for regime-shift in parameters or structural breaks. This paper attempts to fill this void by testing the trickle-down hypothesis for China during the period 1985-2014. We utilized two standard proxies for financial development, namely: the domestic credit to private sector by banks as percentage of GDP, and money and quasi money as percentage of GDP; annual percentage change in real GDP per capita to proxy economic growth; and a standard proxy for poverty reduction namely: the household final consumption expenditure per capita growth. By accounting for structural breaks in our empirical specifications, we found overwhelming support for the trickle-down hypothesis at the national level. That is, we found financial development to cause economic growth, which in turn causes poverty reduction in China at the national level. This has important policy implications. [ABSTRACT FROM AUTHOR]

This paper evaluates the efficiency of Chinese vehicle manufacturing with different products for the period January to December 31st, 1993. It utilizes actual data rather than data modified by utilizing methods that can deal with zeros in the outputs. The paper thus highlights the fundamental role of zeros in DEA analysis, and derives a special calculation method which can decrease the dimension for computer implementation. The paper also illustrates the importance of the use of Assurance Regions (AR) and their application. [ABSTRACT FROM AUTHOR]

This paper explores the middle income trap (MIT) concept from the perspective of productivity growth. Through the examination of cross-country historical statistics as well as China's regional data, it sheds light on the debate about whether the Chinese economy can avoid the middle income trap. It should be one of the first papers proposing an analytical framework to address this controversial issue. The findings should have important implications for economic policies guiding China's development in the coming decades. [ABSTRACT FROM AUTHOR]

Textile industry is very important to the development of Chinese industry and economy. Image processing techniques are beneficial to improve the quality of cotton goods. Suitable blending ratio of yarn is good for it. It is significant to measure the blending ratio of yarn in the practice of textile engineering. Combined with results done by other scholars, this paper uses the concepts of acreage index, abnormity index and fluctuation index. Based on these morphologic indices, it is convenient to construct corresponding eigenvector and to discuss useful mathematical method for the cluster analysis during the measurement of the blending ratio. This paper also sets up some kinds of nonlinear optimization model for the problem. Using classical integer programming algorithm, support vector machine algorithm and genetic algorithm to the problem, we get fine results for cluster analysis. Finally, we give out another problem of image processing and have some discussions about it. [ABSTRACT FROM AUTHOR]

Purpose – Nowadays, China's economy is climbing up the value curve, transitioning from the low-cost manufacturing of basic products to the assembly of high-tech products and more recently to innovation-led growth. This article gives an overview of this dynamic. The authors first give a succinct historical perspective, then describe the present situation; lastly they look at issues for the near future. The authors contend that Western firms cannot afford to be absent from the paradigm shift described in the paper. Foreign R&D in China no longer has emerging status.Design/methodology/approach – The article builds on a review of the literature, statistical data and field experience in different Chinese technological hot spots (including Shanghai Zhangjiang, Beijing Zhongguancun, and Suzhou high-tech parks).Findings – The article highlights five areas where technical change has taken place in China. The assembled facts depict the constitution of a credible Chinese system of innovation. Examples of recent accomplishments in different industries argue for the sustainability of these advances.Research limitations/implications – This paper can be considered as an essay reflecting the authors' understanding of the Chinese situation; as such, it may be subjectively biased.Practical implications – The paper provides arguments for Western managers to convince decision makers of China's new role on the innovation and R&D map; Western managers should definitely be part of this move.Originality/value – The paper highlights a major change: China is still a low-tech country; but it has developed world-class islands of knowledge for innovation and technology creation. [ABSTRACT FROM AUTHOR]

As a result of China's rapid economic growth, energy demand has increased significantly in recent years. Consequently, energy pricing has become increasingly prominent. This paper defines reasonable energy price ratios and establishes models to analyze them from the aspects of input/output standards, economic standards, and international standards according to the structure of the energy prices. Furthermore, based on the socioeconomic conditions in China, prices of coal, natural gas, and electric power are selected as examples for analyzing the price ratios of regulated and nonregulated energy prices under three evaluation criteria. Finally, reasonable energy price ratios in China are determined through a comprehensive analysis. The paper concludes that these ratios are significant for developing countries undergoing energy market oriented reforms such as China. [ABSTRACT FROM AUTHOR]

This paper analyses the effect of foreign trade in China on the urban-rural income gap from certain angles including trade scale, trade structure and trade mode at the national and provincial levels. The empirical results indicate that, from the perspective of trade scale, the export and import in the eastern and national regions have an expansion effect on the urban-rural income gap, and, in the central regions, they have a reduction effect. Furthermore, export in the western regions has a reduction effect while import in these regions did not have a significant effect. From the perspective of trade structure, the trade of high-tech products and labour-intensive products in the national and eastern regions has an expansion effect, and the trade of the above-mentioned products in the central regions has a reduction effect. The trade of labour-intensive products in the western regions has a reduction effect, and that of high-tech products an expansion effect. From the perspective of trade mode, processing trade and general trade in the national and eastern regions have an expansion effect, while in the central regions they have a reduction effect. General trade in the western regions would expand the urban-rural income gap, and processing trade does not have a significant effect. Consequently, when the South African Government is working out trade multiplicative and corresponding policy, they should consider the development of foreign trade and should pay attention to the labour market structure. [ABSTRACT FROM AUTHOR]

Cross-strait relations, which are always fraught with tension, with the potential for escalation into open conflict, were eased after President Ma Ying-jeou was inaugurated. Significantly, President Ma recognized the 1992 Consensus, which served to integrate Taiwan and Mainland China in relation to economic interests and trade. The signing of the Economic Cooperation Framework Agreement (ECFA) allowed cross-strait relations to proceed to the next stage. Consequently, Mainland China proposed political consultations and the signing of a peace agreement. This paper argues that the greatest obstacle to military cooperation and mutual political trust between Taiwan and Mainland China involves the issue of sovereignty. This paper suggests that easing relations and cooperating on a political level is more difficult when Mainland China and Taiwan employ realist thinking. However, cooperating and reconciling politically in cross-strait relations would be possible if both sides would employ constructivist thinking. [ABSTRACT FROM AUTHOR]

This paper explores the relationships between inequality, trade, and capital flows into China since the early 1990s and particularly in the first years of the present decade. We show that the rise in economic inequality in China has more to do directly with the activities associated with China's financial and building boom, notably in Beijing, than with the massive growth in manufacturing employment and in Chinese exports since China joined the WTO in 2001. Nevertheless, it is likely that a flow of profits from the export boom did feed the speculative fires in the capital and elsewhere, and therefore it should be no surprise that the fall of one should be linked to the fall of the other, in a particularly painful reduction of economic inequality. [ABSTRACT FROM AUTHOR]

This paper raises the question and provides empirical evidence regarding the status of the evolution of the state-owned enterprises (SOEs) in China today. In this study, we compare the SOEs to domestic private-owned enterprises (POEs) and foreign-controlled businesses (FCBs) in the context of their organizational cultures. While a new ownership form, many of the POEs evolved from former collectives that reflect the traditional values of Chinese business. Conversely, the FCBs are much more indicative of the large global MNCs. Therefore, we look at the SOEs in the context of these two reference points. We conclude that the SOEs of today have substantially transformed to approximate a configuration desired by the Chinese government when it began the SOE transformation a couple of decades ago to make them globally competitive. The SOEs of today appear to be appropriately described as China's economic dynamic dynamo for the future. Copyright © 2006 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Is the "non-existence" of the Phillips curve in China a truth or just an illusion due to the deficiency of data? Should policy analysis follow the light of New-Keynesian or New-classical economics? These questions require empirical work on the Phillips curve, which has long been limited in China due to an inaccurate unemployment rate and unreliable estimated output gap. Instead of the insignificant or self-contradicting results in previous work, this paper puts forward a significant estimation, creatively using the vacancy-jobseeker ratio instead of the unemployment rate. It is suggested that a robust Phillips curve cannot be ignored and New-Keynesian economics should be employed in policy analysis in the short run. [ABSTRACT FROM AUTHOR]

Relying on quarterly data since 1998 we estimate, for China and the U.S., small scale econometric models that economize on the number of variables employed and yet are rich enough to provide useful insights about spillover effects between the two countries under different maintained assumptions about the exogeneity of the macroeconomic relationship between them. We conclude that inflation in China responds to credit shocks. Indeed, the monetary transmission mechanism in China resembles that of the US even if the channels through which monetary policy affects their respective economies differ. We also find that the monetary policy stance of the PBOC was helpful in mitigating the impact of the global financial crisis of 2008-9. Finally, spillovers from the US to China are significant and originate from both through the real and financial sectors of the US economy. [ABSTRACT FROM AUTHOR]

The article offers information on some important facts about government debt in China. Topics discussed include growth in borrowing of domestic public and government debt by Chinese government, financial globalization and increasing inequality blamed for the rise of government debt and an upward trend of observed for ratio of LGD to gross regional product (debt-GRP ratio). It also presents a graph showing government debt ratios from 1995-2012.

Purpose: The objective of this research is to reform the current real estate tax system and establish the real estate tax system suitable for China's national conditions. Design/methodology: Based on the necessity of the real estate tax reform, the paper studies the system optimization and its effects analysis of the real estate tax. At last, the paper uses the system dynamics to demonstrate the feasibility of the real estate tax from an empirical point. Findings: With the system dynamics, we can establish the causal relationship of the influence factors and forecast the impact on the future real estate prices. It can also provide some suggestions for China's real estate tax reform. Research limitations/implications: The establishment of the model might not be very mature, so we need the further study and improvement. Originality/value: This study was the first to use system dynamics to analyze the impact of real estate taxes on real estate prices, and we hope to provide some suggestions for China's real estate tax reform. [ABSTRACT FROM AUTHOR]

The article offers information about the time series analysis strategy employed in this paper to analyze the property price bubbles in China. It mentions that unsustainable overvaluation of property prices during 2009-2010 resulted in emergence of Chinese house price bubble. It further emphasizes on the significance of local regulatory actions to trigger price corrections and minimize the variation in housing prices in China.

Since the Reform and Opening-up policy had been implemented in 1978, mainland China has experienced significant economic growth, with GDP rising on an annual average of about 10%. However, this growth miracle was far from being evenly distributed across space. It is, therefore, the aim of this paper to study the evolution of spatial disparities in economic development across the country between 1993 and 2012, a period which is characterized by all provinces having access to international markets and being open for international investors. We seek to answer the question of whether Central and Western Chinese provinces were catching up with the East. We define 'catching up' as a growing similarity among spatial units. Convergence processes might manifest in four dimensions, including (1) the spatial allocation of employment, value added generation and the fixed capital stock, (2) forms of technical change, (3) productivity patterns, and (4) income distribution. Results show that persistent phases of convergence appeared. However, in some cases the catching up of China's less developed parts with the flourishing East was limited to only a few Western and Central Chinese provinces. A high degree of path-dependency in economic development prevented catching up from taking place in a more uniform manner. [ABSTRACT FROM AUTHOR]

This paper examines the influence of Chinese powerful economic growth on the competitiveness of Sub-Saharan Africa over the past decade. According to our hypothesis on the one hand the general expansion of China, on the other hand the change of the Chinese specialization patterns generated increasing needs for resources which affected the foreign trade and in this way the trade specialization patterns of the Sub-Saharan African countries. Accordingly the export specialization of Sub-Saharan African countries adapted to China's export specialization trend and maybe there is a connection between the revealed comparative advantage indexes of China and the Sub-Saharan African countries reflecting their specialization. In accordance to the aim the paper established that the trade specialization patterns of Sub-Saharan African countries and China showed an increasingly different picture, it is proved that they completed each other during the studied period. The complementary feature ensures that Chinese economic growth offers increasing foreign trade possibilities to Sub-Saharan African countries, and parallel with this Chinese export possibilities may increase in the Sub-Saharan African regions. The most distinct effect was demonstrable in terms of mineral products, fuels i.e. the products of the primary sector. It also means that China's powerful economic growth ensures continuously expanding export possibilities to Sub-Saharan African countries especially the producing sector of the Southern African region. The complementary feature of the trade specialization patterns is apparent in terms of the Chinese products of the textile industry, the machinery and divers appliances. The increase of competitiveness of these Chinese products results in the increasing export possibility expansion at the Sub-Saharan African market. [ABSTRACT FROM AUTHOR]

Since the reform and opening-up, the disparity between Chinese rural economy and the overall national economic development has already become the key constraint for further development of the national economy. In order to increase the farmers' income and to promote rural economic development, the efforts of China's budgetary and financial policies to support agriculture have been strengthened year by year. However, it lacks an accurate and effective assessment to evaluate the effects of China's fiscal and financial policies supports for agriculture. This paper proposes to estimate and measure the effects of China's fiscal and financial supports for agriculture utilizing the Chinese provincial panel data on the basis of the latest spatial panel econometric method. The results show that since China intensified the fiscal and financial support in 2004, the direct effects of fiscal and financial supports for agriculture have improved, but the spatial spillover effects have turned from positive to negative. [ABSTRACT FROM AUTHOR]

China's economic miracle represents a highly debated topic in the literature in the past decades and its emergence as a prosperous modern economic superpower has been largely recognized in the world. China is getting richer and stronger as its market liberalization and enterprise reforms have led to an impressive economic growth. More and more Chinese companies, either state-owned or private, are expanding globally. The aim of our paper is to highlight the major role played by corporate China in today's business world at a global scale. After corporate China has developed, some of the largest Chinese companies have become key actors in the business world and have obtained huge revenues and profits on the global stage. [ABSTRACT FROM AUTHOR]

China's economic rise has transformed the global economy in a number of manufacturing industries. This paper investigates whether China's transformative influence extends to the new green economy. Drawing on the debate about how China is driving major economic changes in the world-the "Asian drivers" debate-it identifies five corridors of influence and investigates their relevance for the wind energy industries. Starting with the demand side, it suggests that the size and rapid growth of the Chinese market have a major influence on competitive parameters in the global wind power industry. While Western firms have found ways of participating in the growth of the Chinese market, the government's procurement regimes benefit Chinese firms. The latter have invested heavily and learned fast, accumulating production capabilities that have led to changes in the global pecking order of lead firms. While the combined impact of Chinese market and production power is already visible, other influences are beginning to be felt - arising from China's coordination, innovation and financing power. [ABSTRACT FROM AUTHOR]

Purpose – China has become a most dominant player in the global economy with immense political repercussions, for instance in Africa. The extremely rapid Chinese economic transformation has been accomplished through strong globalisation with, for example, entrance into the WTO framework. Now it faces the challenges of accepting the other side of the globalisation coin, namely institutional transparency, ecological sustainability and foreign policy integration into the international community. The purpose of this paper is to explore this. Design/methodology/approach – Macro approach using country indicators on economic growth, institutional transparency, rule of law and ecology pressure. It relates these index scores to the overall social transformation of the country. Findings – China has performed well on economic globalisation but lags on political modernisation, i.e. institutional transparency as well as on ecological sustainability for a post-modern society.Research limitations/implications – China must address the challenges of the post-modern society with its call for transparency, sustainability and peaceful accommodation with neighbours. Social implications – Modernisation has two sides, not only economic growth. As China is set to become the world leader economically, it will embark upon the post-modern society, with its demands for peace, rule of law and environmental protection. Originality/value – The paper puts economic globalisation against political modernisation and ecological globalisation in a clear manner for China. [ABSTRACT FROM AUTHOR]

The article offers information regarding the data sets used to analyze the property price bubbles in China. It utilizes parameters such as nominal house prices and price-to-rent ratio from data issued by the National Bureau of Statistics of China for the period from 2003 through 2011. It also includes several graphs depicting the gross rental yields across major Chinese cities and a comparison of the same with major cities of other countries including Switzerland, Singapore and India.

Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. This paper presents a unified framework for understanding the structural causes of these imbalances. I argue that the imbalances are attributable to a set of policies and institutions embedded in the economy. I propose a unified framework for understanding the joint causes of the high savings rate and external imbalances in China. My explanations first focus on an array of factors that encouraged saving across the corporate, government, and household sectors, such as policies that affected sectoral income distribution, along with factors like incomplete social welfare reforms, and population control policies. I then turn to policies that limited investment in China, thus preventing the high savings from being used domestically. Finally, I will examine how trade policies, such as export tax rebates, special economic zones, and exchange rate policies, strongly promote exports. Moreover, the accession of China to the World Trade Organization has dramatically amplified the effects of these structural distortions. In conclusion, I recommend some policy reforms for rebalancing the Chinese economy. [ABSTRACT FROM AUTHOR]

China's regional inequality has been a hot research topic lately and most of the literature focuses on economic development. Since 1990, the United Nations Development Program (UNDP) has devised a measure known as the human development index (HDI) by combining measures of income, education and health. A major concern about HDI is that it is a national average measurement that ignores disparities within a country. This paper aims to explore China's regional inequality under the human development framework with three objectives: ( i) to calculate provincial HDI in 1990, 2000 and 2008; ( ii) to detect the spatial distributions of HDI as well as its three component indices; and ( iii) to reveal the influence of China's transitions on regional human development. GIS and statistical methods such as coefficient of variation, Moran's I, and spatial regression are used in this study. The results illustrate that the overall disparity in HDI declined, but the spatial concentration increased; and the multiple transitions determined the changing patterns of human development. This research provides a broader context for studying China's regional development and has important policy implications. Resumen. La desigualdad regional en China ha sido un tema candente de investigación en los últimos tiempos, centrándose la mayoría de la literatura en el desarrollo económico. Desde 1990, el Programa de Naciones Unidas para el Desarrollo (PNUD) ha venido desarrollando un indicador conocido como el Índice de Desarrollo Humano (IDH), que combina indicadores de ingresos, educación y salud. Una gran preocupación acerca del IDH es que es un indicador promedio a escala nacional, que no tienen en cuenta las diferencias dentro de un país. Este trabajo busca explorar la desigualdad regional de China dentro del marco del desarrollo humano, atendiendo a tres objetivos: (i) calcular el IDH provincial en 1990, 2000 y 2008; (ii) detectar distribuciones espaciales del IDH, así como de los tres indicadores que lo componen; y (iii) revelar la influencia de transiciones en China en cuanto al desarrollo humano regional. En este estudio se utilizan SIG y métodos estadísticos tales como el coeficiente de variación, el índice I de Moran, y la regresión espacial. Los resultados muestran que la disparidad total del IDH disminuyó, al tiempo que aumentó la concentración espacial, y que las múltiples transiciones han significado cambios en los patrones de desarrollo humano. Esta investigación ofrece un contexto más amplio para el estudio del desarrollo regional de China y conlleva importantes implicaciones políticas. [ABSTRACT FROM AUTHOR]

As the energy supply shortage and environmental pollution have increasingly become the major obstacles to China's economic development, the Chinese government has proposed various policies to reduce energy consumption, one of which is to implement a differentiated electric power price scheme (DEPP) on the energy-intensive industries (EIs). Although it is only imposed on EIs, its indirect impact on other sectors or national economy could be profound. This paper applies an input-output (IO) model, which composes 42 sectors calibrated with data in 2002 to examine the potential impact of DEPP. The results show that DEPP would result in significant energy savings at the expense of declines in gross domestic product (GDP) and increases in consumer price index (CPI). The ancillary benefits include reduction of emissions from the energy-intensive sector. [ABSTRACT FROM AUTHOR]

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Hybrid governance instruments such as public-private partnerships are increasingly applied in so-called emerging countries, in particular Brazil, India and China (the 'BRICs'). With a more diverse set of influential political actors involved in global governance, the question arises whether existing global governance institutions are effective and legitimate. This paper focuses on partnerships in China's sustainable development. China has witnessed rapid economic transition from a plan economy to a market economy. In the course of these developments, China faces increasing ecological stress and social inequity. Reform and intensification of China's sustainable development governance seems necessary. Are partnerships the road to go? Does China successfully appropriate the partnership model and integrate it into its domestic governance? This paper discusses how Partnerships for Sustainable Development were brokered at the 2002 Worlds Summit for Sustainable Development, in spite of initial resistance by developing countries; and whether a prevalent partnership model is emerging in China. [ABSTRACT FROM AUTHOR]

For many years, foreign funded companies in China enjoyed a relatively low tax rate and a series of preferential policies which were aimed at encouraging foreign direct investment in China. By adopting a new law in 2007, however, the National People's Congress proclaimed the end of the dual corporate-income-tax system. From 2008, the preferential tax treatment of foreign capital will be phased out. As a result, the income tax rate for domestic and foreign funded companies will be unified at the rate of 25%. This paper explores the impact of the dual corporate income tax system on both domestic and foreign funded enterprises and discusses the possible effects of the unification. [ABSTRACT FROM AUTHOR]

This paper argues that China may well consider a probable shift of its position on the principle of State immunity from the absolute doctrine to the restrictive doctrine for the purpose of better accommodating the rapid growth of the private sector in China's economic structure and significantly enhancing the judicial protection of the interest of Chinese private entities actively involved in international commerce since the 1990s. This paper makes a brief study of China's past practice and position in relation to State immunity, offers an analysis of the rationale for a position shift, recommends means to facilitate the shift and comments on some relevant principal legal issues about which China may have legitimate concerns. [ABSTRACT FROM AUTHOR]

• While existing studies often use sector-level data to explain the phenomenal growth of the Chinese private sector, this paper complements the literature by using firm level data to conduct a comparative study of performance between family-owned and state-owned firms in China. • Taking a population comprising listed firms for the period 1999-2004, we analyze financial and operating performance with reference to five measures: (1) revenue per employee, (2) revenue per unit of cost, (3) net profit per employee, (4) return on assets, and (5) market-to-hook ratio. • Having controlled for other firm characteristics, such as size, leverage, firm age, sales volatility, innovation and marketing, institutional environment and industry, our results confirm that family-owned firms achieve significantly better performances than state-owned enterprises. These results support the general consensus that China is increasingly reliant on private companies as an engine for economic growth and an employment hub. [ABSTRACT FROM AUTHOR]

The article responds to a report written by Gary Jefferson, Albert Hu, and Jian Su on economic growth in China. The role of China in the international economic scene is explored and the prospects for future economic growth are examined. Details about the points made by Jefferson, Hu, and Su on China's role in international technology and China's domestic economic affairs are provided. Information on the productivity of the Chinese labor market and the amount of total factor productivity (TFP) in China is also included.

Since China introduced a market economy in 1978, its economy has been the fastest growing in South East Asia. Between 1980 and 1997, the annual average growth rate of China's gross domestic product was 10 percent, far exceeding the performance of competitors Singapore, Thailand, South Korea and Japan. In 1995, only U.S. attracted more inward investment, with China taking a 42 percent share of all foreign investment in Asia. With imminent entry to the World Trade Organization, there is little doubt that China is poised to become one of the world's economic superpowers. However, there are threats to the continued economic growth of China. One of these is the adoption of effective people management practices by Chinese state-owned enterprises (SOE) thought to be consistent with the economic reforms of the past 20 years. This paper examines this threat. To do so it reviews the literature on the operation of people management in China and then evaluates people management practices in a large SOE called here by the pseudonym Sinoelectronics. In particular, the paper addresses the introduction of human resource management practices and the extent to which their introduction in Chinese SOEs may generate the results their advocates expect.

This paper examines the dynamic relationships between gold and stock markets in China. Using daily gold and stock indexes data, we estimated the DCC-GARCH model for the five bear markets since 31 October 2002, and simultaneously used different segments of China's stock markets for analysis. Our main objective was to examine the time-varying correlations between gold and stock and to check the effectiveness of gold as a hedge or a safe haven for stocks. Results showed that: (1) the dynamic conditional correlations switched between positive and negative values over the periods under study; (2) due to the increasing investment demand of gold, the hedging effect of gold on China's stock market has strengthened remarkably. Gold acts as a safe haven for only the latest two of the five bear markets analyzed (12 June 2015-26 August 2015 and 22 December 2015-29 February 2016); and (3) for non-bear markets, gold does not offer good risk hedging. [ABSTRACT FROM AUTHOR]

Background: China's economy has experienced a high-rate growth since the reform and opening up in 1978. However, some macro-statistics indicated that China's economy grows with a low efficiency. In fact, these conclusions based on macro-statistics and the performance of the economy as a whole cannot reflect the multi-level, dynamic and, therefore, complicated situation of China. By using firm-level data, and the stochastic frontier production model, this paper makes an investigation on the changing trends of TFP of China's LMIE between 1995 and 2002, and the decomposition of factors of growth. Results: Main findings include: (1) the weighted average of the annual growth of TFP in China's large and medium sized industrial enterprises was as high as 6.8 % with a rising trend during 1996-2002; (2) the contribution to TFP growth by the factor of Frontier Technology Progress reached as much as 14 percentage points per annum on average; (3) the decline in Technical Efficiency (Relative to the Frontier) reduced the TFP growth by 7.1 percentage points per annum on average; (4) Allocative Efficiency contributed on average only 0.02 percentage points per annum to the TFP growth and Scale Dis-Economy slowed the growth of TFP by 0.33 percentage points per annum. Conclusions: The results show that at the turn of the century, the most important part of China's industry was in the middle of an industrial productivity revolution driven by both Frontier Technological Progress and the great potential of technical efficiency of lagging enterprises. The revolution is driven by increased competition, privatization, foreign investment, and business expansion. [ABSTRACT FROM AUTHOR]

How reliable are China's GDP and other data? We address this question by using trading-partner exports to China as an independent measure of its economic activity from 2000-2014. We find that the information content of Chinese GDP improves markedly after 2008. We also consider a number of plausible, non-GDP indicators of economic activity that have been identified as alternative Chinese output measures. We find that activity factors based on the first principal component of sets of indicators are substantially more informative than GDP alone. The index that best matches activity in-sample uses four indicators: electricity, rail freight, an index of raw materials supply, and retail sales. Adding GDP to this group only modestly improves in-sample performance. Moreover, out of sample, a single activity factor without GDP proves the most reliable measure of economic activity. [ABSTRACT FROM AUTHOR]

The article presents a study that examines the reliability of China's gross domestic product (GDP) and other economic data using trading-partner exports to the country as an independent measure of its economic activity from 2000-2014. The researchers use non-GDP indicators to assess the country's economic condition due to concerns that its economic output figures may be distorted. The movements in reported GDP and externally-reported exports to China are compared.