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Preliminary -- Contents -- Tables -- Figures -- Contributors -- Acknowledgments -- 1 China's New Strategy for Long-term Growth and Development: Imperatives and Implications- Ross Garnaut, Cai Fang and Ligang Song -- 2 New Institutions for a New Development Model - Dwight H. Perkins -- 3 The New Normal of Chinese Development - Yiping Huang, Cai Fang, Peng Xu and Gou Qin -- 4 The End of China's Demographic Dividend: The Perspective of Potential GDP Growth - Cai Fang and Lu Yang -- 5 Chinese Industrialisation: Path Dependence and the Transition to a New Model - Huw McKay and Ligang Song -- 6 China's Saving and Global Economic Performance - Rod Tyers, Ying Zhang and Tsun Se Cheong -- 7 Growing into an Innovative Economy: Evidence from Chinese Firm-Level Data Analysis - Yixiao Zhou -- 8 China's Agricultural Development: Achievements and Challenges - Li Zhou -- 9 Rural-Urban Migration: Trend and Policy Implications (2008-2012) - Xin Meng -- 10 Reforming China's Public Finances for Long-term Growth - Christine Wong -- 11 Changing Business Environment in China: A Regional Context and Policy Implications - Xiaolu Wang, Jingwen Yu and Fan Gang1 -- 12 Will Chinese Industry Ever Be 'Green'? - Shiyi Chen and Jane Golley -- 13 Can China Achieve Green Growth? - Yongsheng Zhang -- 14 China's Climate Change Mitigation in International Context: Issues for Australia and China - Ross Garnaut1 -- 15 China's Energy Demand Growth and the Energy Policy Trilemma - Simon Wensley, Stephen Wilson and Jane Kuang -- 16 Financial Constraints on Chinese Outward Direct Investment by the Private Sector - Bijun Wang, Miaojie Yu and Yiping Huang -- 17 Determinants of Chinese Exports in Information and Communication Technology (ICT) Products: A Firm-Level Analysis - Kunwang Li and Bingzhan Shi -- Index

The Chinese economy is undergoing profound change in policy and structure. The change is necessary to increase the value of growth to the Chinese

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.

Preliminary -- Tables, figures and boxes -- Abbreviations -- Preface -- A summary overview of emerging private enterprise in China -- 1. Introduction -- 2. Development of the role of private enterprise in China -- 3. Descriptions of the sample enterprises -- 4. Market competition -- 5. Finance -- 6. Taxation -- 7. Internal governance -- 8. Labour and managerialskills -- 9. Technological challenges -- 10. Laws and government administrative regulations -- References -- Index.

"China is so large that its trading interests and influence are global. But its interests are disproportionately powerful in its immediate Western Pacific and Asia Pacific partners. The evolution of China's economic relationships with its Asia Pacific partners, in which APEC came to play a significant role in the 1990s, is thus a central part of the story of China's rapidly growing and changing interaction with the global economy." - Ross Garnaut

APEC is an important forum thorugh which China can demonstrate its commitment to economic openness. APEC has also been an important vehicle for China's trade liberalisation on the way towards accession to the WTO.

In facilitating trade liberalisation, APEC and te WTO are mutually reinforcing. APEC prepares China for the WTO and WTO accession encourages China's active participation in the APEC process. Both APEC membership and WTO accession help with the huge task of China's domestic reform.

This book sets out China's strategic interests in APEC in the lead-up to the APEC summit in Shanghai in 2001. Contributors include leading Chinese economists from the APEC Policy Research Centre in the Chinese Academy of Social Sciences–Zhang Yunling, Zhang Jianjun, Sun Xuegong, Li Kai, Chen Luzhi, Zhou Xiaobing, Zhao Jianglin–and from the Asia Pacific School of Economics and Management at The Australian National University–Peter Drysdale, Ligang Song, Ross Garnaut, hristopher Findlay, Andrew Elek, Yongzheng Yang, Yiping Huang, K.P. Kalirajan, Hadi Soesastro and Chen Chunlai.

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.

China has made some remarkable achievements during the first three decades of economic reform and opening up, rising to become one of the world's most dynamic and globally-integrated market economies. Yet there remains much unfinished business on the reform and development agenda, coupled with newly emerging challenges. China: The Next Twenty Years of Reform and Development highlights how the deepening of reforms in critical areas such as domestic factor markets, the exchange rate regime and the health system, combined with the strengthening of channels for effective policy implementation, will enable China to cope with the challenges that lie ahead. These include responding to the pending exhaustion of the unlimited supply of labour; playing a constructive role in reducing global trade imbalances; enhancing firms' ability to innovate; coping with migration, urbanisation and rising inequalities on scales unknown in world history; and dealing with rising energy and metal demand in an era in which low-carbon growth has become a necessity rather than a choice.

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.

AbstractChina adopted a new model of growth from 2011, requiring substantial structural change. This introductory article presents statistical evidence on progress so far. Change generally is in the required direction, but slow. There has been early but slow progress on re‐orienting domestic demand towards consumption; substantial re‐orientation from reliance on exports towards domestic demand; and rapid change at the margin in the energy mix towards low‐emissions sources. Investment in human capital is proceeding rapidly along lines required by the new model. So far, productivity growth has been slow, raising questions about future progress.

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.