Deepening China's Investment System Reform——The State Development Investment Corporation

The Chinese government set up the State Development Bank against the background of the Chinese economic system being transformed from planned to market. In May 1995, the State Development Investment Corporation was established. Does this mean that China’s investment system reform is advancing at a much

Is China's Investment Ratio Too High?

In recent years,overseas observers have reached a consensus upon attributing China’s sustained rapid economic growth primarily to high investment.This consensus opinion has also struck a resonant chord among a large number of domestic researchers who acknowledge the tremendous contribution of continued high fixed asset investment to China’s economic growth,and often wonder whether"the investment ratio is too high"and"the economy is overheating".In this article,renowned economist Zhang Hanya elaborates upon the real economic meaning of"investment ratio",and sets out reasonable criteria for the"investment/consumption ratio".His explanations help us to clarify our understanding and judgments regarding the related issues.

Influence of surface layer slurry temperature on surface cracks and holes of ZTC4 titanium alloy by investment casting

In this work,the influences of surface layer slurry at different temperatures(10℃,14℃,18℃,22℃)on wax patterns deformation,shrinkage,slurry coating characteristics,and the surface quality of the casting were investigated by using a single factor variable method.The surface morphologies of the shell molds produced by different temperatures of the surface(first)layer slurries were observed via electron microscopy.Furthermore,the microscopic composition of these shell molds was obtained by EDS,and the osmotic effect of the slurry on the wax patterns at different temperatures was also assessed by the PZ-200 Contact Angle detector.The forming reasons for the surface cracks and holes of thick and large ZTC4 titanium alloy by investment casting were analyzed.The experimental results show that the surface of the shell molds prepared by the surface layer slurry with a low temperature exhibits noticeable damage,which is mainly due to the poor coating performance and the serious expansion and contraction of wax pattern at low temperatures.The second layer shell material(SiO_(2),Al_(2)O_(3))immerses into the crack area of the surface layer,contacts and reacts with the molten titanium to form surface cracks and holes in the castings.With the increase of the temperature of surface layer slurry,the damage to the shell surface tends to weaken,and the composition of the shell molds'surface becomes more uniform with less impurities.The results show that the surface layer slurry at 22℃is evenly coated on the surface of the wax patterns with appropriate thickness,and there is no surface shell mold rupture caused by sliding slurry after sand leaching.The surface layer slurry temperature is consistent with the wax pattern temperature and the workshop temperature,so there is no damage of the surface layer shell caused by expansion and contraction.Therefore,the shell mold prepared by the surface layer slurry at this temperature has good integrity,isolating the contact between the low inert shell material and the titanium liquid effectively,and the ZTC4 titanium alloy cylinder casting prepared by this shell mold is smooth,without cracks and holes.

Investment risk analysis of China's wind power industry based on pre-assessment matrix

Wind energy is a clean and sustainable energy, and wind power does not rely on fossil fuels. So there is no fuel price risk, and it, of course, does not include the environmental costs, such as carbon emissions. Because of these unique advantages, wind power has gradually become an important part of the strategy of sustainable development in China. Now with the growing voices on global greenhouse gas emission reduction, and as a clean and efficient energy, wind power has huge potential in combating climate change, energy security pressures and the needs for energy. Wind power in China began to develop from the 1980s. In the first 20 years, the speed of development was slow; but since 2004, it has had an extremely rapid growth.This paper, in order to study the development mechanism of China＆amp;amp;amp;#39;s wind power industry, investigated and analyzed the status quo of wind power industry in China, and then found that （1） the development trend of wind power industry in China appears exponential growth; （2） China＆amp;amp;amp;#39;s installed capacity of wind power is still smaller than that os some other countries; （3） new subsidy policies bring developing opportunities to wind power industry in China; （4） the sectors of wind power industry are in unbalanced growing; （5） the owners of proposed wind farms are too optimistic though the built wind farm had many problems. In addition, by using the methodology of Game Theory, this paper has also constructed the matrix of pre-assessing risks of China＆amp;amp;amp;#39;s wind power industry to further discuss the potential risk factors within China＆amp;amp;amp;#39;s wind power industry as risk factors of wind farm construction, risk factors of production of wind turbines, risk factors of parts and components manufacturing industry under risk indicators like R＆amp;amp;amp;amp;D, patents, the domestic policy, the international policy, the quality of products and the market regulation, in order to provide a scientific assessment and self-assessment tool for investors or implementers, and also to promote the further development of the wind power industry.

FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON CHINA'S ECONOMY: A RESEARCH APPRAISAL

Foreign direct investment (FDI) and the development of the hosted nations is a major issue facing researchers in many disciplines, especially in economic geography. This paper reviews the current available literature pertaining to the impact of FDI on the economic development in China, and emphasizes four points. First, although China is the second largest of FDI recipient and one of the fastest growing nations in the world, it has not drawn enough attention of researchers on the topic. And very few publications are found specifically focusing on the economic impact of FDI. Second, many areas of the impact of FDI have remained untouched. Particularly, there are needs for further studies to address the impact of FDI on efficient use of resources and overall competitiveness of the country. Third, in the theoretical aspect, research should explore the nature of bargaining power of all participants. Finally, it is suggested to select a number of case study areas and foreign funded enterprises for in depth studies.

Overreliance on Net Export and Investment Impedes China's Structural Transformation: Estimation and Analysis Based on a Multi-Sector Growth Model

Since reform and opening-up in 1978, changes in China's industrial structure have generally followed the pattern of "Kuznets facts" but still exhibits some unique characteristics, which led us to raise the following three questions regarding China's structural transformation:(1) Why did the share of China's agricultural and manufacturing employment reduce/increase intermittently rather than continuously?(2) Why did the share of China's agricultural employment increase during certain periods? When the share of manufacturing employment reduced, why did the workforce reversely flow into agriculture rather than move to the service sector?(3) Why did growth in the share of China's service sector employment decelerate before reaching its peak? Why did the share of employment in the industrial sector suddenly increase after an abrupt decline? This paper creates a multisector economic growth model that contains non-homothetic preferences and differentiated productivity, and incorporates the "two drivers" therein for a demand-side estimation and analysis. The result shows that China's economic growth model driven by net export and investment is a critical factor for explaining the three questions regarding its structural transformation. This paper believes that only by implementing supply-side structural reforms, reducing the dependence on net export and investment, and achieving sustainable endogenous economic growth will China be able to expedite its industrial restructuring.

Dongtai Group——Active Investment in China's Mainland

The Dongtai Group,a paper maker for40 years,is now an international trans-industrial group,comprising the paperindustry,plastics processing industry,machinemanufacture,hotels,and also securitiescompanies,real estate companies,investmentcompanies and high-tech industry.It hasestablished more than 20 companies in theUSA,Australia,Japan,Hongkong,Taiwanand China's Mainland. The group opened its first enterpriseon China's Mainland--the Fuda Industry Co.Ltd.in 1989 in Xiamen,with an investmentofUS＄ 6 million.The Fuda Company appliesadvanced international techniques andprocesses to design and produce completesets of equipment for making plastic bags,which are paralleled with those made inEurope,the USA and Japan in quality

Local Government Behavior behind China's Excessive Investment under Decentralization——Theoretical and Empirical Analysis Based on Manufacturing Sector

This paper investigates the effect of local government intervention on capital deepening of manufacturing sector by using interprovincial panel data sets of 28 Chinese provinces,municipalities and autonomous regions between 1994 and 2011.Theoretical research indicates that as a transitional economy,China's local government intervention in corporate investment behaviors will cause excessive investment,thus bringing about a long-term and sustained tendency of capital deepening in manufacturing sector.Empirical test further discovers that in a certain range,the phenomenon of capital deepening in manufacturing sector is not an inevitable result endogenous to economic development and technology progress,and that investment behaviors of manufacturing sector are largely subject to the external institutional environment.Fiscal decentralization has indeed promoted capital deepening of manufacturing sector.Financial credit expansion and interventions in SOEs are major instruments for local governments to intervene in the capital deepening of manufacturing sector and such an influence is particularly significant for China's central,western and northeast regions.Therefore,clarifying government functions and improving local government performance review mechanism are of great significance to the healthy development of China's manufacturing sector.

Risk assessment of oil and gas investment environment in countries along the Belt and Road Initiative

With the implementation of the Belt and Road Initiative, China is deepening its cooperation in oil and gas resources with countries along the Initiative. In order to better mitigate risks and enhance the safety of investments, it is of significant importance to research the oil and gas investment environment in these countries for China's overseas investment macro-layout. This paper proposes an indicator system including 27 indicators from 6 dimensions. On this basis, game theory models combined with global entropy method and analytic hierarchy process are applied to determine the combined weights, and the TOPSIS-GRA model is utilized to assess the risks of oil and gas investment in 76 countries along the Initiative from 2014 to 2021. Finally, the GM(1,1) model is employed to predict risk values for 2022-2025. In conclusion, oil and gas resources and political factors have the greatest impact on investment environment risk, and 12 countries with greater investment potential are selected through cluster analysis in conjunction with the predicted results. The research findings may provide scientific decisionmaking recommendations for the Chinese government and oil enterprises to strengthen oil and gas investment cooperation with countries along the Belt and Road Initiative.

China's Approval Regime on Outbound Investment-Overview on the First Chinese Judgment Recognized and Enforced by the United States Courts

On February 26, 2010, the Ministry of Commerce of China ("MOFCOM")issued the Guiding Opinions on 2010 Outbound Investment and Coo-peration indicating

Environmental regulation,hidden economy,and China's outward foreign direct investment

The need to balance economic growth and its environmental impact continues to be a serious issue in China.As environmental regulation in China increases in importance,it is critical to understand how it impacts economic growth drivers such as outward foreign direct investment(OFDI)to formulate effective policies.One consideration should be the hidden economy,which can weaken the effects of environmental regulation on OFDI.This study investigates the scale of the hidden economy in 30 provinces and province-level municipalities in China in the period 2004 to 2015.The study uses the multiple indicators and multiple causes(MIMIC)model and the systematic generalized method of moments(GMM)test to analyze the impact of environmental regulation and the hidden economy on China's OFDI.The results show that stronger environmental regulation promotes OFDI.However,the hidden economy inhibits China's OFDI,as the positive effects of environmental regulation that drive OFDI are distorted.From a regional perspective,stronger environmental regulation promotes OFDI as well,while the hidden economy inhibits it.The interaction between environmental regulation and the hidden economy also inhibits it significantly.

China's Overseas Investment

Usually, China’s overseas investment refers to direct investment (capital, equipment, technology, patent fights and trademark) from Chinese enterprises, corporations and other organizations to set up overseas joint ventures, cooperative operations, wholly-owned enterprises or other

Overheated Investment in Real Estate Inhibits Innovation:Verification and Analysis in China's Case

Whether rapid real estate investment growth inhibits China's innovation is a critical question for China's economic sustainability. Based on China's provincial panel data and using land supply as an instrumental variable for real estate investment growth, we arrived at the following findings after effectively controlling endogenous factors that could lead to estimation errors. First of all, the faster real estate investment grows in a province, the lower the growth rates of innovation and R&D spending and invention patent authorizations will be in the province, an indication that real estate directly inhibits innovation in China. Such inhibition is particularly pronounced in the industrial sectors. Secondly, in the context of rampant real estate investment, the biased loan maturity structure of China's financial system in favor of the real estate industry further inhibits innovation. This paper has verified the existence of the direct effect of real estate investment growth on regional innovation and its indirect effect on regional innovation through the biased long maturity structure of the financial system. The empirical findings of this paper provide practical policy implications for China to strike a balance between real estate development and an innovation-driven development strategy.

China's Agriculture Calling for Foreign Investment

At the recently-convened meetings of the National People’sCongress and the Chinese People’s Political ConsultativeCoference, agriculture has once again become a hot topicattracting attentions of deputies. Speeding up the opening up ofagricultural sector and properly resolving the thorny financial andtechnological problems confronting it become a highlighted issuein the State’s plan to utilize foreign investment in the coming fewyears.

Multilateral Investment Agreement Negotiations and China's Policies

Of late,Chins’s joining in the WTO has again claimed the focus of attention at home and abroad.What is most talked about at home is

Yu Xiaosong Reviewing China's Present Economic Situation & Investment Climate

During the Fifth Asian and Pacific International Fairs held in Beijing, the vice minister of State Economic and Trade Commission, Yu Xiaosong, gave a review of the economic situation and investment environment of China to business people and journalists of various countries. This year is a key year in China’s economic system reform. The reform schemes for financial and taxation, monetary, investment and foreign