The role of foreign capital in Chinese reforms: A survey

China Report

Volumn 32, Issue 3, 1996, Pages 293-327

  Deshpande, Ashwini ^a  

^a NONE

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[No Author keywords available]

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EID: 9744242146     PISSN: 00094455     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Review

References (65)

1. World Bank, World Tables, 1993.
2. This is clearly spelt out in the document of the Central Committee of the CPC (adopted at the Third Plenary Session, 14 November 1993). The new economic policy guideline can be described by the '4-word directive', due to its emphasis on 'readjustment, reformation, consolidation and improvement'. Thus the CPC, post-1978, aimed for the 'readjustment' of the major national income aggregates that were distorted during the Cultural Revolution, 'reformation' of the over centralised system of economic management, 'consolidation' of the enterprise management system, that had presumably become distorted by the extreme left campaigns of the past, and 'improvement' of production standards, technology, economy, and management of existing enterprises.
3. J. Frankenstein, 'Toward the Year 2000: Some Strategic Speculation about International Business in China', in L. Kelly and S. Shenkar (Eds.), International Business in China (London: Routledge, 1993).
4. Key industrial products are distributed through a centralised system, their prices are controlled by the government; wages, income and consumption are subject to controls and state investment allocation is still skewed towards heavy industry.
5. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
6. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
7. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
8. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
9. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
10. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
11. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
12. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
13. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
14. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
15. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
16. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
17. See, for example, B. Belassa, 'Economic Reform in China', Banca Nationale del Lavoro Review, 142, September 1982; Chu-yuan Cheng, 'Economic Reform in Mainland China: Consequences and Prospects', Issues and Studies, Vol. 22, No. 12, December 1986; S. Feuchtwang and A. Hussain, The Chinese Economic Reforms (London: Croom Helm, 1983); Haiyan Gao, 'China: Economic Development and Evaluation of Socialist Public Ownership', International Journal of Social Economics, Vol. 8, Nos. 8, 9, 10, 1991; G. Hidasi, 'China's Economy in the Late 1970's and Its Development Prospects up to the Mid-1980s', Acta Deconomica, Vol. 23, No. 1-2, 1979; N. Lardy, 'China's Economic Readjustment: Recovery or Paralysis', Giorn Economics, Vol. 37, No. 7-8, 1980; D.H. Perkins, 'Reforming China's Economic System', Journal of Economic Literature, Vol. XXVII, No. 2, June 1988; F.D. Tinari and D. Lam, 'Chinese Resistance to Economic Reforms', Contemporary Policy Issues, Vol. IX, July 1991; Jinglian Wu and B.L. Reynolds, 'Choosing a Strategy for China's Economic Reform', American Economic Association Papers and Proceedings, 1988; Yu Guangyuan (Ed.), China's Socialist Modernisation (Beijing: Foreign Languages Press, 1984); Yun-wing Sung, 'The Role of Hong Kong in China's Export Drive', Australian Journal of Chinese Affairs, No. 15, January 1986; Yun-wing Sung and Thomas M.H. Chan, 'China's Economic Reform: The Debates in China', Australian Journal of Chinese Affairs, No. 17, January 1987; Zhao Lin Yun, 'Four Long Term Restrictive Factors on the Further Development of China's Economic Reforms', Issues and Studies, Vol. 27, No. 5, 1991.
18. J. Fei and B. Reynolds, 'A Tentative Plan for the Rational Sequencing of Overall Reform in China's Economic System', Journal of Comparative Economics, Vol. 11, 1987.
19. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
20. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
21. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
22. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
23. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
24. See, W.A. Byrd, 'The Impact of the Two Tier Plan/Market System in Chinese Industry', Journal of Comparative Economics, Vol. 11, 1987; P. Bowles and G. White, 'The Dilemmas of Market Socialism: Capital Market Reform in China - Part II: Bonds', Journal of Development Studies, Vol. 28, No. 3, April 1992; K. Ishihara, 'Economic Reforms and the Behaviour of State Enterprises in China', in Hidasi, op. cit.; Y.C. Jao and C.K. Leung (Eds.), China's Special Economic Zones: Policies, Problems and Prospects (London: Oxford University Press, 1986); G.H. Jefferson, 'The Impact of Reforms on Socialist Enterprises in Transition: Structure, Conduct, and Performance in Chinese Industry', Journal of Comparative Economics, Vol. 15, 1990; Wu Jinglian, 'Some Views on the Choice of a Strategy for Reform', ibid.
25. K. Anderson and R. Tyers, 'China's Economic Growth, Structural Transformation and Food Trade', Australian Journal of Chinese Affairs, No. 14, July 1985; R. Kleinberg, China's Opening to the Outside World: The Experiment with Foreign Capitalism (Boulder, CO: Westview Press, 1990); D. Zweig, 'Internationalising China's Countryside: The Political Economy of Exports from Rural Industry', The China Quarterly, No. 128, 1991.
26. K. Anderson and R. Tyers, 'China's Economic Growth, Structural Transformation and Food Trade', Australian Journal of Chinese Affairs, No. 14, July 1985; R. Kleinberg, China's Opening to the Outside World: The Experiment with Foreign Capitalism (Boulder, CO: Westview Press, 1990); D. Zweig, 'Internationalising China's Countryside: The Political Economy of Exports from Rural Industry', The China Quarterly, No. 128, 1991.
27. K. Anderson and R. Tyers, 'China's Economic Growth, Structural Transformation and Food Trade', Australian Journal of Chinese Affairs, No. 14, July 1985; R. Kleinberg, China's Opening to the Outside World: The Experiment with Foreign Capitalism (Boulder, CO: Westview Press, 1990); D. Zweig, 'Internationalising China's Countryside: The Political Economy of Exports from Rural Industry', The China Quarterly, No. 128, 1991.
28. N.T. Wang, China's Modernisation and Transnational Corporations (Toronto: Lexington Books, 1984); T. Cannon, 'Foreign Investment and Trade: Origins of the Modernisation Policy', in S. Feuchtwang and A. Hussain, op. cit.; C. Riskin, China's Political Economy: The Quest for Development since 1949 (New York: Oxford University Press, 1987).
29. N.T. Wang, China's Modernisation and Transnational Corporations (Toronto: Lexington Books, 1984); T. Cannon, 'Foreign Investment and Trade: Origins of the Modernisation Policy', in S. Feuchtwang and A. Hussain, op. cit.; C. Riskin, China's Political Economy: The Quest for Development since 1949 (New York: Oxford University Press, 1987).
30. N.T. Wang, China's Modernisation and Transnational Corporations (Toronto: Lexington Books, 1984); T. Cannon, 'Foreign Investment and Trade: Origins of the Modernisation Policy', in S. Feuchtwang and A. Hussain, op. cit.; C. Riskin, China's Political Economy: The Quest for Development since 1949 (New York: Oxford University Press, 1987).
31. To give a relative idea of magnitudes, total FDI outflows in the world were $195 billion in 1993, of which developing countries attracted $80 billion, that is, twice the amount in 1991. With over $11.1 billion inflows and $4 billion outflows, China has emerged as the largest developing country recipient and source of investment funds in 1992, accounting for one-fifth of total inflows to all developing countries. In 1993, China's share increased further, to about one-third of investment flows to all developing countries. See United Nations, World Investment Report, 1994.
32. Ibid.
33. Ibid.
34. See M.M. Pearson, 'The Erosion of Control over Foreign Capital in China, 1979-1988: Having Their Cake and Eating It Too?', Modern China, Vol. 17,No. 1, January 1991; J.S. Prybyla, 'Mainland China's SEZ's, Issues and Studies, Vol. XX, No. 9, September 1984.
35. See M.M. Pearson, 'The Erosion of Control over Foreign Capital in China, 1979-1988: Having Their Cake and Eating It Too?', Modern China, Vol. 17,No. 1, January 1991; J.S. Prybyla, 'Mainland China's SEZ's, Issues and Studies, Vol. XX, No. 9, September 1984.
36. Since the coastal regions were traditionally centres of trade and commerce, they have been historically relatively more prosperous and well developed areas. After the Revolution, the Chinese government made a conscious attempt to reverse this trend and focused more attention on the backward areas, under the policy of spatial relocation.
37. Regarding the choice of location, the picture is varied. Over 50 per cent of Hong Kong's joint venture investment has been in the SEZs, most notably in Shenzhen that borders the territory, while Japan and the US have invested 43 per cent and 49 per cent respectively in the coastal cities, and only 4 per cent and 8.4 per cent in the SEZs. See Barnard and Shenkar (1993).
38. One limitation of the literature available is that while much is known about the SEZs (since they were the starting point of the opening up process), the scenario in the coastal cities and the economic development areas needs further research. Accordingly, this paper would focus mainly on the profile of the SEZs.
39. D.K.Y. Chu, 'The Special Economic Zones and the Problem of Territorial Containment', in Jao and Leung (1986), op. cit.
40. Yen Tzung-ta, 'Taiwan Investment in Mainland China and Its Impact on Taiwan's Industries', Issues and Studies, Vol. 27, No. 5, May 1991; Ranbir Vohra, 'China's "Open Door" and the US: Foreign Investment and National Autonomy', China Report, Vol. 28, No. 3, July-September 1992; J.T. Thoburn, H.M. Leung, E. Chau and S.H. Tang, Foreign Investment in China under the Open Policy: The Experience of Hong Kong Companies (Hong Kong: Avebury, 1990); K.K. Seo, 'Economic Reform and Foreign Direct Investment in China Before and After the Tiananmen Square Tragedy', in Kelly and Shenkar (1993), op. cit.; W. Tseng, H.E. Khor, K. Kocchar, D. Mihaljek and D. Burton, 'Economic Reform in China: A New Phase', International Monetary Fund, Occasional Paper 114, 1994.
41. Yen Tzung-ta, 'Taiwan Investment in Mainland China and Its Impact on Taiwan's Industries', Issues and Studies, Vol. 27, No. 5, May 1991; Ranbir Vohra, 'China's "Open Door" and the US: Foreign Investment and National Autonomy', China Report, Vol. 28, No. 3, July-September 1992; J.T. Thoburn, H.M. Leung, E. Chau and S.H. Tang, Foreign Investment in China under the Open Policy: The Experience of Hong Kong Companies (Hong Kong: Avebury, 1990); K.K. Seo, 'Economic Reform and Foreign Direct Investment in China Before and After the Tiananmen Square Tragedy', in Kelly and Shenkar (1993), op. cit.; W. Tseng, H.E. Khor, K. Kocchar, D. Mihaljek and D. Burton, 'Economic Reform in China: A New Phase', International Monetary Fund, Occasional Paper 114, 1994.
42. Yen Tzung-ta, 'Taiwan Investment in Mainland China and Its Impact on Taiwan's Industries', Issues and Studies, Vol. 27, No. 5, May 1991; Ranbir Vohra, 'China's "Open Door" and the US: Foreign Investment and National Autonomy', China Report, Vol. 28, No. 3, July-September 1992; J.T. Thoburn, H.M. Leung, E. Chau and S.H. Tang, Foreign Investment in China under the Open Policy: The Experience of Hong Kong Companies (Hong Kong: Avebury, 1990); K.K. Seo, 'Economic Reform and Foreign Direct Investment in China Before and After the Tiananmen Square Tragedy', in Kelly and Shenkar (1993), op. cit.; W. Tseng, H.E. Khor, K. Kocchar, D. Mihaljek and D. Burton, 'Economic Reform in China: A New Phase', International Monetary Fund, Occasional Paper 114, 1994.
43. Yen Tzung-ta, 'Taiwan Investment in Mainland China and Its Impact on Taiwan's Industries', Issues and Studies, Vol. 27, No. 5, May 1991; Ranbir Vohra, 'China's "Open Door" and the US: Foreign Investment and National Autonomy', China Report, Vol. 28, No. 3, July-September 1992; J.T. Thoburn, H.M. Leung, E. Chau and S.H. Tang, Foreign Investment in China under the Open Policy: The Experience of Hong Kong Companies (Hong Kong: Avebury, 1990); K.K. Seo, 'Economic Reform and Foreign Direct Investment in China Before and After the Tiananmen Square Tragedy', in Kelly and Shenkar (1993), op. cit.; W. Tseng, H.E. Khor, K. Kocchar, D. Mihaljek and D. Burton, 'Economic Reform in China: A New Phase', International Monetary Fund, Occasional Paper 114, 1994.
44. Yen Tzung-ta, 'Taiwan Investment in Mainland China and Its Impact on Taiwan's Industries', Issues and Studies, Vol. 27, No. 5, May 1991; Ranbir Vohra, 'China's "Open Door" and the US: Foreign Investment and National Autonomy', China Report, Vol. 28, No. 3, July-September 1992; J.T. Thoburn, H.M. Leung, E. Chau and S.H. Tang, Foreign Investment in China under the Open Policy: The Experience of Hong Kong Companies (Hong Kong: Avebury, 1990); K.K. Seo, 'Economic Reform and Foreign Direct Investment in China Before and After the Tiananmen Square Tragedy', in Kelly and Shenkar (1993), op. cit.; W. Tseng, H.E. Khor, K. Kocchar, D. Mihaljek and D. Burton, 'Economic Reform in China: A New Phase', International Monetary Fund, Occasional Paper 114, 1994.
45. United Nations, World Investment Report, 1994.
46. Jao and Leung, op. cit.
47. Ibid.
48. World Bank, World Development Report (Washington, D.C.: World Bank, 1995).
49. Chu Baotai, Foreign Investment in China: Questions and Answers (Beijing: Foreign Languages Press, 1986). See also, China's Foreign Economic Legislation, Vols. 1-3 (Beijing: Foreign Languages. Press, 1985-87).
50. Chu Baotai, Foreign Investment in China: Questions and Answers (Beijing: Foreign Languages Press, 1986). See also, China's Foreign Economic Legislation, Vols. 1-3 (Beijing: Foreign Languages. Press, 1985-87).
51. UN, op. cit.
52. Seo, op. cit.
53. Reported in Seo, op. cit.
54. Beijing Review, various issues.
55. CPC, Central Committee Decision on Establishing Socialist Market Structure (Beijing: Foreign Languages Press, 1993).
56. Chu Baotai, op. cit.
57. Prybyla, op. cit.
58. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
59. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
60. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
61. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
62. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
63. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
64. T. Chan, E.K.Y. Chen and S. Chin, 'China's Special Economic Zones: Ideology, Policy and Practice', in Jao and Leung, op. cit. See also, B. Krug, 'The PRC's Foreign Trade: Socialist Construction, Profit and Rent', Issues and Studies, Vol. 22, No. 2, July 1986. R.Y.K. Kwok, 'Structure and Policies in Industrial Planning in the Shenzhen Special Economic Zone', in Jao and Leung, op. cit. R. Kojima, 'The Achievements and Contradictions in China's Economic Reforms, 1979-88', The Developing Economies, Vol. XXVIII, No. 4, 1990. W.H. Liu, 'Construction of a Post-Mao Macroeconomic Model and Foreign Trade I and II', Issues and Studies, Vol. 22, Nos. 1-2, January-February 1986. R.J. Ash and Y.Y. Kuch, 'Economic Integration within Greater China: Trade and Investment Flows between China, Hong Kong and Taiwan', The China Quarterly, No. 136, December 1993. M. Barnard and O. Shenkar, 'Variations in the Economic Development of China's Provinces: An Explanatory Look', in Kelly and Shenkar, op. cit.
65. Prybyla, op. cit.