Development Mechanism of Urban System in Rapidly Changing Period in China

The purpose of this research is to investigate the socio-economic development mechanism of China’s urban system in terms of spatial structure and its change. Totally 246 cities from 340 designated cities in 1985, and 488 from 640 designated cities in 1995 are selected as sample cities. And 22 attributes concerning urban features are analyzed to clarify the socio-economic characteristics and their changes in the urban system. Finally, the primary development factors are verified with the relationship of spatial structure and socio-economic characteristics. In conclusion, the socio-economic changes occurred more extremely than spatial structure changes. Furthermore, foreign investment be- came a major power for the development of China’s urban system in the period of 1985–1995.

Empirical Study of China＇s Outward Foreign Direct Investment for 2001-2008

China＇s outward FDI has been increasing recently, as the country＇s policies over industrialization and national security change. Using financial data of 244 Chinese enterprises, this study empirically investigates the patterns and determinants of China＇s outward FDI from 2001 to 2008 for its seven major destinations. Tobit and multiple regression analyses indicate that early Chinese FDI in 2001 and 2002 is concentrated in the labor-intensive industries in Asia, like those of early Japanese FDI in the early 1970s as well as those of Korean FDI in 1990s. The results also indicate that non-production oriented manufacturers invested in North America, in order to seek for market cultivation, technological advance, R＆D skills, and name brands. We also found that the central state-owned enterprises are the key FDI players in the continents with locational disadvantages

Threshold Effects in the Capital Account Liberalization and Foreign Direct Investment Relationship

This paper examines how capital account liberalization （CAL） affects foreign direct investment （FDI） inflows. Authors use a dynamic panel model encompassing 14 Middle East countries over the period from 1985 to 2009. The findings suggest that countries that are able to reap the benefits of the capital openness policy satisfy certain threshold conditions regarding the level of financial development and institutional quality. Thus to promote FDI, governments in this region should develop a set of policies that not only focus on financial openness, but also on the improvement of the financial system and legal institutions.

Empirical research on the relationship between real estate price fluctuation and foreign money inflow

In recent years, the real estate price has been raising with the volume of foreign money inflow increasing. The relationship between foreign money and real estate price becomes a focus. This paper studies the relationship with empirical methods. The co-integration test shows that there is a long equilibrium between real estate price rising and foreign money inflow. The analysis of ECM shows that foreign money inflow as to real estate price rising is less important than real estate price rising as to foreign money inflow. And Granger test also shows that foreign money inflow is not the cause of real estate price rising, on the contrary, real estate price rising causes foreign money flowing in.

How U.S. Antidumping Actions Affect China＇s Inward and Outward FDI

This paper presents an empirical study of how U.S. antidumping （AD） actions against China affect China ＇s inward and outward foreign direct investment （FDI） based on the international division of labor model. Our findings are as follows： （1） The U.S.-China trade deficit has been widened by both downstream firms in China established through vertical FDI and also inward enterprises established through horizontal FDI. The widening deficit in turn exacerbates vitriolic complaints in the U.S. about injury to its industries. This will lead to further U.S. AD actions discouraging FDI in China. （2） U.S. AD cases against China have negatively impacted China＇s metal manufacturing, chemical and, especially, textile industries in terms of exports and inward FDI. From 2004 to 2009, the share of total inward FDI going to China＇s manufacturing sector has dropped drastically by almost 20 percent. This supports predictions made using the international division of labor model. （3） With U.S. AD actions against Chinese products on the rise, Chinese firms chose not to circumvent such barriers through outward FDI in the U.S. but rather through outward FDI in tax havens. Such a pattern of outward FDI is not helpful for China to establish its own successful industrial development model.

The mediating role of export-oriented Japanese foreign direct investment in China

Since the early 1990s, China has become the largest destination of Japanese foreign direct investment （FDI）. Observing this trend, the authors analyzed whether Japanese FDI did promote exports from China to the rest of the world, and more importantly, whether this is a strategy adopted by Japanese multinationals to penetrate not only the Chinese market but also the global market. This analysis takes into account not only the direct effects of FDI on exports, but also the indirect effects, by examining the mediating role of export oriented Japanese FDI in China from 1998 to 2007 through panel analysis. The study contributes to the conceptual framework of indirect relationship among the macroeconomic variables, FDI and exports provides some insights into the strategy of export oriented Japanese FDI in creating a win-win platform for Japan and China.

China＇s Round-Tripped FDI： Trends,Determinants, and Policy Implications

With observations and reflections on a series of phenomena,such as the ＂independent situation＂of China＇s FDI during the recent global financial risis and the increase of round tripped investment after the ＂tax rate unification,＂this paper examines a unique phenomenon in China＇s FDI-round tripped investment.It reveals its determinants from a micro-perspectiv ,and establishes a vector error correction mode（VECM）for emprirical testing.The results is that the determinants of China＇s round tripped investment are institutional factors such as ＂achievable differential treatment＂ and cpaital control.Tax ,exchange rate,housing price and capital control intensity all have an impact on the scale of round tripped FDI.However,judging from the extent of influence,the most important factor should be exchange rate ,followed by capital control intensity and housing price,and tax has a limited impact.

FDI in China Grows 12% in First Half of 2007

China＇s foreign direct investment （FDI）grew 12% to 31.9billion U.S dollars in the first half of the year the Ministry of Commerce （MOC）said.

What Is the Role of FDI in Environmental Pollution？---Evidence ti＇om China

This paper analyzes the distribution patterns and spatial dynamic transitions of foreign direct investment （FDI） and pollution from 2000 to 2009 in China＇s provinces by using the comprehensive pollution index （CEPI） and exploratory spatial data analysis. Findings suggest that FDI as well as environmental pollution in our provinces exists an obvious spatial autocorrelation, both of them have remarkable characteristics of path dependence and form different accumulation areas. Currently, the accumulations of highlevel FDI correspond to low-level environmental pollution, while the accumulations of low-level FDI are associated with high-level environmental pollution. Furthermore, the authors have empirically analyzed the impact of FDI on China＇s environmental pollution by spatial error model （SEM） and spatial lag model （SLM） respeetively. Findings suggest that the geographical clustering of FDI has a positive impact on China＇s environment, in general, ＂Pollution Haven Hypothesis＂ is invalid in China. In addition, there are remarkable differences in the impact of FDI on environmental pollution due to different sources, the foreign capital from offshore financial centers has significantly alleviated pollution in China while that from developed countries in East Asia and the West has played an insignificant role in environmental pollution.

Core competitiveness of the western enterprise in China: risks and countermeasures

Core competitiveness is the source of competitive advantages as well as the guarantee of value growth of the enterprise. This paper discusses the cause of the risks of the core competitiveness of enterprises and the west enterprise, introduces analytical methods of the risks of the core competitiveness and measures guard against the risks of the core competitiveness.

China＇s Real Estate Tax Reform： Past, Present and Future

Since 1978, China＇s reform of real estate tax has made great strides with important milestones marked by the resumption of real estate tax collection on Chinese- funded enterprises and Chinese nationals. In the llth Five-Year Plan period （2006-2010）, the state administration completed the unification of tax rates for domestic and foreign- funded companies. However, the reform of real estate tax still requires many modifications during the 12th Five-Year Plan period （2011-2015）. The new plan should strive to streamline the tax system, adjust the tax base and tax rates, and delegate taxing authority.

China＇s Direct Investment in Advanced Economies： the Cases of Europe and the United States

Chinese outward foreign direct has increased substantially in recent years, investment （OFDI） in developed economies driven by structural adjustments in China ＇s economy. This article describes the inflection point of Chinese investment in the European Union and the United States since 2008. A new data set is used to highlight similarities and differences of Chinese investment patterns in the world＇s two biggest economies. The second part examines the policy response on both sides of the Atlantic to promote investment from China and at the same time address political and economic risks related to these new flows.

Countermeasures of Financing Difficulties of Small and Micro Enterprises in China

Financing difficult problem has seriously restricted the further development of small and micro enterprises in our country. This paper analyzes and discusses the Countermeasures of the financing difficulties of small and micro enterprises in our country from two aspects of the external environment and internal self.

Effects of China's OFDI on Host Countries' Environmental Quality

From a FDI source country perspective, this paper reveals the effect of Chinas OFDI on host countries' environmental quality. Based on the Copeland-Taylor model, this paper creates a theoretical mechanism to demonstrate how Chinas OFDI affects host countries' pollution intensity and environmental quality and carries out an empirical analysis based on Chinas OFDI data of 2003-2014 and the economic development index data of 168 host countries. Since Chinas OFDI is differentiated for countries of various income levels, this paper f Urther conducts a sub-sample empirical test on the income level of host countries. The result shows that Chinas OFDI growth generally induces an increase in total pollution emissions in host countries but significantly reduces per capita emissions and thus improves local environmental quality. Sub-sample regression result shows that whether in terms of total or per capita emissions, Chinas OFDI has a much more significant effect in improving the environmental quality of high-income countries.

Political Impact of Chinese Foreign Direct Investment （FDI） in the European Union （EU）

This paper explores the political challenges posed by the recent influx of Chinese outward foreign direct investment （OFDI） into the European Union （EU）. Chinese OFDI has increased substantially in recent years. Chinese direct investment is still minute in the EU, but it is growing fast, and the strong upward trajectory is likely to continue in the years to come. This surge represents challenges and opportunities for EU countries. In the current context of economic and debt crisis in Europe, whether China is seen as a saviour or a predator, the question of a Faustian bargain made by European countries by courting and hosting Chinese investment needs to be asked. The benefits of foreign direct investment （FDI） for the host economy are well known, but Chinese OFDI may come with implicit strings attached and could potentially act as a Trojan Horse, affecting European norms and policies. The influx of Chinese OFDI can create an unhealthy transatlantic competition with security ramifications, which should therefore be addressed. It is interesting to find the right balance between ensuring the benefits from Chinese FDI （from job creation to productivity gains） and protecting from its harmful effects.

An Analysis of Chinese Acquisitions of Made in Italy Firms in the Luxury Sector

Outward Foreign Direct Investment （OFDI） from emerging economies has begun to increase significantly and has been growing at a faster pace than Foreign Direct Investment （FDI） from the developed world. This research seeks to assess the impact of Chinese acquisitions and their implications for the ＂Made in Italy＂ luxury sector and its firms. This paper presents a cross-case analysis of two Chinese acquisitions in order to provide some in-depth insights into the influences and the motives driving Chinese firms to invest in the luxury Made in Italy sector, the patterns and modes of the Chinese acquisitions as well as the competitive strategies and the distinctive challenges that both investors and acquired firms have to face. From the findings, it emerges that both the investor and the acquired firm need to overcome several key challenges to be mutual benefits from the acquisition.

The Impact of the Implementation of the New Regulations on Capital Management＇s Bank of China

Since China＇ s accession to WTO, opening up has intensified China＇ s ties with the international financial markets, financial markets have become increasingly frequent. However, with respect to foreign banks, capital management of commercial banks is only just beginning. Especially after the proposed Basel, how to adjust the capital assets of commercial banks is to enable them to comply with Basel II requirements, ensuring stability and development of the banking sector is the China Banking Regulatory Commission and the commercial banks. So, how intensive management can reduce capital occupation to increase the capital adequacy ratio is an important part of the commercial banks that must be studied.

韩国经济再现“汉江奇迹”的原因和启示

韩国在亚洲国家中率先摆脱金融危机的困扰，再次创造“汉江奇迹”。其原因主要表现为加快企业结构调整，整顿金融秩序，发展高科技产业，大量引进外资，振奋民族精神等方面。我国在进一步扩大开放条件下应注意从加大改革力度，培养企业竞争实力，发展规模经营，推进结构优化，提高国民素质等方面吸收韩国的有益经验。

China＇s Current Inflation： Characteristics, Causes and Countermeasures

China＇s current inflation differs from that of the 1980s. The Current inflation is being caused by factors from both the supply and demand sides, and should therefore be addressed from both sides as well With a new policy analysis framework, we suggest that China now needs to adopt a policy combination of ＂supply expansion and demand tightening.＂ Demand tightening should mainly rely on the policy of quantitative monetary tightening, which specifically includes further tightening of capital controls and encouragement of outbound investment. Supply expansion should mainly rely on policies of tax cuts, Renminbi appreciation, reform, improvement of administration, and technological progress.

Overseas Cooperation of Chinese Oil Enterprises in 2017

This paper analyzes the status quo and progress of overseas oil and gas business cooperation built by Chinese oil enterprises in 2017. With the slow recovery of the oil and gas industries as a whole, the overseas oil and gas business of Chinese oil enterprises has continued to grow in size, and all-round cooperation progress was made along the Belt and Road. Breakthroughs were made in oil and gas cooperation between China and the United States. In the meantime, new features have emerged in the overseas cooperation of Chinese enterprises, and a pattern of diversified investors has basically taken shape.