China Has Only 1 Percent of the International Labor Market

Wang Dongjin, vice minister of Labor and Social Security, said that although progress has been made in overseas employment, China‘s overseas work force makes up less than 1 percent of the international labor market, This is surprisingly low in view of China‘s huge population, According to statistics, at the end of 2003, China‘s overseas work force amounted to 525,000 and created foreign exchange earnings of US $2 billion.     

MARKET WATCH

China adds to its holdings of U.S. Treasury securities for the first time in three months. China’s auto market stages a significant comeback in August as vehicle sales grew 6.29 percent from July figures. The Anshan Iron & Steel Group Corp. concluded an agreement to invest in the United States, ending doubts about the feasibility of the deal. State -owned enterprises raked in juicy profits from January to August this year. China inches up on the global competitiveness ranking list. Global payment giant MasterCard Worldwide predicts China will replace the United States as the world’s top credit card market by 2020.     

Can Philips Regain Its Chinese Market？

FOREIGN-INVESTEDenterprises are appreci-ated in China for theirbeneficial affect on eco-nomic development. A solid com-mercial foundation and enterprisemanagerial expertise do not, how-ever, guarantee unconditionalrespect and ongoing co-operation.The Philips Group is an exampleof a foreign enterprise that fell     

MARKET WATCH

China has maintained its attractiveness to foreign investors with foreign direct investments leaping 17.4 percent last year. Meanwhile, domestic companies are rushing to extend their global reach, boosting outbound direct investment to a record high. Despite gloomy stock markets, China has taken a leading position among global IPO markets. The logistics industry picks up momentum, though problems remain. Home appliance giant Haier has fared well, with profits soaring 78 percent last year.     

China's Diplomacy Promotes a Human Community with a Shared Future

THIS year China celebrates the centenary anni-versary of the founding of the Communist Party of China (CPC).Leading up to the commemora-tion,many international analysts have already started to debate Chinas new foreign policy and its impact on the international order.This debate has two motivating factors.The first and most important is the prediction that the Chinese economy will surpass the American economy before 2030.The other factor is the role of Chinese diplomacy in combating the pandemic,through which China has helped more than 100 coun-tries in COVID-19 prevention,control,and vaccination,in contrast to the U.S'.lackluster responses to the pan-demic.This is not a discussion about the world's lead-ership profiles but a global governance model for the     

MARKET WATCH

Auto Boom China's auto market continues to thrive,though the sales boom is losing some shine.     

MARKET WATCH

U.S.Treasuries Shed China trimmed its holdings of U.S.Treasury securities in June to ＄843.7 billion,according to the U.S.Department of the Treasury.     

Central Strategy

正Stepped-up measures to reduce regional development gap produce results At the 12th Central China Investment and Trade Expo in Taiyuan, Shanxi Province,in May,the new products of Huayang New Material Technology Group showcased how companies in central China are switching to green and sustainable development.     

Economic Rebound Attracts More FDI

正The Western mainstream media has often lashed out against the Chinese Government and the country,but that has not resulted in a negative impact on China when it comes to attracting substantial flows of inbound foreign direct investments(FDI).     

MARKET WATCH

By allowing foreign investors greater access to Chinese equities,regulators try to firm up the fickle stock markets. China's export woes show signs of healing,though uncertainties still loom large. Regardless of controversies swirling around the deal,the Sichuan heavy machinery maker Tengzhong agrees to buy the General Motors Co.'s Hummer brand. China's auto market burns hot as September sales soared 77.88 percent year on year. Citibank China has recently opened its third lending company in China.     

Factors Influencing the Growth of Foreign Banks' Branches in China

Because of the excess demand for branch licences and the Chinese government's policy to effectively ration banking licences, this paper suggests explaining the allocation of branch licences by the objectives of the Chinese government rather than by the objectives of foreign banks. Consequently, it examines what factors determined the supply of branch licences to foreign banks in China at a micro level. This is in contrast with the existing literature that focuses almost exclusively on the demand for branch licences by foreign banks. To consider the supply of branch licences, we construct detailed data about each foreign bank's organisations in China.     

2021年中国外交:秉持天下胸怀,践行为国为民——在2021年国际形势与中国外交研讨会上的演讲

各位专家,各位朋友:大家好!很高兴与各位专家学者再次相聚,共同盘点今年的国际形势与中国外交。首先,我要对大家长期以来对外交工作的关心支持表示感谢,也真诚欢迎大家继续为中国外交提出真知灼见。纵观2021年世界形势,全球疫情跌宕蔓延,百年变局加速演进,世界进入动荡变革期。     

IN FULL SWING

In July, China Petrochemical Corp. (Sinopec Group), one of the world's largest petrochemical companies, initiated China's first million-ton carbon capture, utilization and storage (CCUS) project in an oilfield in Shandong Province. The project, which will be put into production by the end of this year, is estimated to reduce carbon dioxide emissions by 1 million tons per year, the equivalent of planting nearly 9 million trees.     

外商直接投资对中国产业结构升级的影响——基于粤苏鲁三省面板数据的时点个体固定效应分析

本文选取粤、苏、鲁三省2001～2011年第一、二、三产业的面板数据,采用时点个体固定效应模型,对外商直接投资对产业结构升级的影响做了实证分析,结果显示外商直接投资的进入促进了中国产业经济结构的升级.外商直接投资对第二产业的固定效应最大,其次是第三和第一产业.外商直接投资对第一、二产业的个体固定效应随经济发展水平的提高而降低;对第三产业的个体固定效应则随经济发展水平的提高而增强.外商直接投资对第一产业的时点固定效应呈一直降低趋势,对第二产业的时点固定效应则先升高后降低,对第三产业的时点固定效应呈先降低后升高趋势.     

中蒙关系发展中的大国因素探微

中蒙关系的发展不是一帆风顺的，但睦邻友好始终是两国关系发展的主流。由于蒙古处于特殊地理位置，其外交关系发展不可避免地受到美、俄、日等世界主要大国的影响，并进而影响中蒙关系的发展。     

Building Closer Ties

Arecent opinion poll shows that changes in the relationship between China and the U.S. over the past year have had striking impacts on relations between China and Japan. Moreover, more than 60 percent of Chinese respondents and half of all Japanese respondents believed these impacts were negative. The annual survey's results were released dur-ing the 17th Beijing-Tokyo Forum, jointly held both online and in person by China International Communications Group (CICG) and Japan's Genron NPO on October 25 and 26. More than 100 partici-pants from political, business, academic and media circles exchanged views on a wide range of issues.     

Transforming China's Banks: the IFC's experience

China's progress in fixing its banking system has surprised observers. Successful experiments, some of them involving foreign investors, have emerged in China to deal with the problems of the banking system. The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has played an active role in piloting some of these approaches in close cooperation with the regulator and other strategic investors. In the period 1995–2000, IFC's strategy was to work with one or two banks to help improve their governance and skills. The idea was to create some model banks which could be emulated by others and used by the regulators to introduce modern banking practices. Once the corporate governance and business practices of these banks improved, then the IFC was able to attract foreign banks to invest in these banks. These investments encouraged other foreign banks to consider taking minority stakes in the smaller banks. The success of these experiments gave confidence to the Chinese authorities to open up the big state-owned banks for foreign investment and encouraged big international banks to invest large sums of money to take minority stakes in the big banks. While progress in reform has been remarkable, the real and sustainable transformation of the Chinese banks is far from over and will be a lengthy process. Significant challenges such as improving corporate governance and credit risk management remain. Despite the significant opening of the banking system to foreign direct investment, foreign ownership in the Chinese banking system remains low by international standards. Even with existing limitations on foreign ownership, foreign strategic investors are contributing to the transformation of Chinese banks and their role remains highly relevant for the continued reform of the Chinese banking system.     

Fintech Supervision

Innovation in financial technology(fintech)has made life easier,but how about potential risks?China's banking and financial authorities'regulatory talks with Ant Group,the fintech affiliate of e-commerce giant Alibaba,at the end of last year were evidence of the government's concern.     

"入世"与我国政府人力资源开发

"入世"之后,由于政府职能的转变和激烈竞争的要求,我国将面临较大的人力资源缺口,尤其是在外贸、外语、金融、环保、谈判等方面,人才缺乏,必须尽快进行卓有成效的人力资源开发,才能应对因"入世"带来的各种挑战.     

China's Sovereign Wealth Funds: origins,development, and future roles

China has established two of the world's newer large sovereign wealth funds (SWFs): the official China Investment Corporation (CIC), and the non-official and less transparent State Administration of Foreign Exchange (SAFE) Investment Company (SIC). Both provide alternative investment opportunities for China's exploding foreign exchange reserves, at US$2.4 trillion at the end of 2009, the largest in world history. This paper will address how China has accumulated its huge and growing foreign exchange reserves, and what roles these reserves, until 2007 managed only by the State Administration of Foreign Exchange (SAFE), have played in the establishment and development of China's two new SWFs. We will look specifically at why China's foreign exchange reserves have developed, and how the new SWFs are a part of broader efforts to provide investment alternatives for China's ballooning foreign exchange surpluses, particularly in light of the inflow of ‘hot’ foreign speculative funds. We will then point out some of the difficulties for China's financial officials of SWFs as they try to pursue multiple and sometimes competing goals, set by boards of directors representing different bureaucratic and economic interests, all within the context of a general lack of transparency and a rapidly growing economy. Finally, we will present our conclusions about the future roles of the two SWFs as well as of the policies being developed to decentralize foreign exchange reserve holdings while at the same time not slowing the growth of China's foreign trade surpluses, nor its foreign direct investments, nor its overall economic growth. We will also examine the effects of US-promoted Chinese currency appreciation on the future of China's foreign exchange reserves and its sovereign wealth funds.