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Preliminary -- Contents -- Tables, figures and abbreviations -- Contributors -- Preface -- Introduction: China's Interests in APEC - Ross Garnaut, Ligang Song and Peter Drysdale -- APEC and the Chinese Economy: Strategic Issues -- 1. Liberalisation of the Chinese economy: APEC, WTO and tariff reductions - Zhang Yunling -- 2. Open regionalism, APEC and China's international trade strategies - Peter Drysdale -- 3. The functions of APEC and implications for China: A critical review - Zhang Jianjun -- Australia-China Cooperation in APEC -- 4. Australia's APEC agenda-Implications for Australia and China - Christopher Findlay and Chen Chunlai -- 5. Australia and China: Shared objectives in APEC and the international economic system - Andrew Elek -- APEC, Structural Reform and Sectoral Liberalisation -- 6. How important is APEC to China? - Yongzheng Yang and Yiping Huang -- 7. APEC investment, trade liberalisation and China's economic adjustment - Sun Xuegong -- 8. Trade protection in China's automobile and textile industries and its impact on trade liberalisation - Li Kai -- 9. The competitiveness of China's chemical sector: Assessment and implications for EVSL policy - Sun Xuegong -- Ecotech Cooperation -- 10. Ecotech at the heart of APEC: Capacity-building in the Asia Pacific - Andrew Elek and Hadi Soesastro -- 11. Promoting APEC's Ecotech initiative - Chen Luzhi -- 12. Economic and technical cooperation: Creating the environment to remove the barriers - Zhou Xiaobing and Zhao Jianglin -- Capital Flows, Technology and Trade Liberalisation -- 13. Impact of capital inflows and technology transfer on the Chinese economy - Zhou Xiaobing -- 14. Exchange rate changes, trade development and structural adjustment in the East Asian economies - Zhou Xiaobing and Ligang Song.

Chinese economic reform and development: achievements, emerging challenges and unfinished tasks. --Part I.Long-Term Development: Trends and Issues.The turning period in China's economic development: a conceptual framework and next empirical evidence --The China model and its future --How will China's central-local governmental relationships evolve? An analytical framework and its implications --China's metal intensity in comparative perspective --Assessing China's energy conservation and carbon intensity: how will the future differ from the past? --Prospects for diminishing regional disparities --Part II.Global Integration: Challenges and Opportunities.Exchange rate policy and macroeconomic adjustment --The real exchange rate and the renminbi --China and East Asian trade: the decoupling fallacy, crisis and policy challenges --Asian foreign direct investment and the 'China effect' --The global financial crisis and rural-urban migration --Part III.Policy and Reform: Unfinished Business.Avoiding economic crashes on China's road to prosperity --Rebalancing China's economic structure --Urbanisation with Chinese characteristics --Indigenous innovation for sustainable growth --China's health system and the next 20 years of reform.

The year 2018 marks 40 years of reform and development in China (1978-2018). This commemorative book assembles some of the world's most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China's new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China's fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China's economic reform and development. Included are discussions of China's 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China's global integration. This book further documents and analyses the development experiences including China's large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

ABSTRACTThis study investigates the effects of foreign direct investment (FDI) on emissions of five pollutants in China using a panel data set of 29 provinces over the period 1992–2004. The study applies a simultaneous equations estimation technique to estimate the scale, technique and composition effects of FDI on China's overall and regional pollution emissions. The estimation results show that FDI in general helps reduce pollution emissions in China, contributing largely to its technique effect. Capturing both the direct and indirect technique effects improves the accuracy in assessing the environmental impact of the FDI. The study also finds that the environmental impacts of FDI vary significantly among different regions and for different pollutants in China.

Based on an enterprise survey conducted in 11 cities in 2002, this paper reviews the trends of privatization in China, discusses the forms of gaizhi (restructuring), analyzes the issues emerging in the process of gaizhi, especially the handling of state assets and land-use rights and re-employment, and compares the performance of firms before and after gaizhi. The study found that restructuring has become more oriented towards privatization over recent years. The so-called "loss of state assets" has occurred mainly in the form of price discounts when selling state assets. Restructured or gaizhi firms did sack more workers in the year the gaizhi took place, but subsequently they maintained a slower rate of employment reduction than pure SOEs. Gaizhi, especially restructuring with privatization, has hardened firms' budget constraint with banks, but has not been effective in hardening firms' budget constraint with the government. Gaizhi and privatization have significantly improved firms' profitability, but have not raised investment rates or labor productivity. (China J/DÜI)

The world and China's place in it have been transformed over the past year. The pressures for change have come from the most severe global financial crisis ever. The crisis has accelerated China's emergence as a great power. But China and its global partners have yet to think or work through the consequences of its new position for the governance of world affairs. China's New Place in a World in Crisis discusses and provides in-depth analysis of the following questions. How have China's growth prospects been affected by the global crisis? How will the crisis and China's response to it impact China's major domestic issues, such as industrialisation, urbanisation and the reform of the state-owned sector of the economy? How will the crisis and the international community's response to it affect the rapidly emerging new international order? What will be China's, and other major developing countries', new role? Can China and the world find a way of breaking the nexus between economic growth and environmental sustainability — especially on the issue of climate change?

Deepening reform and opening-up for China to grow into a high-income country / Ligang Song, Yixiao Zhou and Luke Hurst - China's economic development : a perspective on capital misallocation / Guiying Laura Wu - Chinese corporate debt and credit misallocation / Ninghua Zhong, Mi Xie and Zhikuo Liu - A structural investigation of the Chinese economy with a hybrid monetary policy rule / Jiao Wang and Ran Li - Off-farm employment in rural China and the hukou system / Yuhan Zhao, Moyu Chen and Yu Sheng - Nonstandard employment : global vision and evidence from China's urban labour market / Yongjie Wang - E-commerce development in rural China / Sherry Tao Kong - Innovation of Chinese listed enterprises : evaluation and policies / Zhongyu Ma, Huiqing Gao, Weihua Yin and Zhichao Wen - The effects of financial sector opening on financial constraints in China / Liqing Zhang, Yan Zhang and Zhixiao Dong - Financial support schemes for SMEs in China : benefits, costs and selected policy issues / Qin Gou and Yiping Huang - Modelling the economic impact of the Sino-US trade dispute : a global perspective / Deborah H. Y. Tan and Chen Chen - Inequality of opportunity and gender discrimination in China's labour income / Jane Golley, Yixiao Zhou and Meiyan Wang - What types of Chinese ODI activities are most prone to political intervention? / Bijun Wang and Xiao He - The impact of Chinese state capital during the iron ore boom / Luke Hurst.