Foreign Trade, FDI, and Capital Flows Study

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  • Publication
    China in Regional Trade Agreements : Competition Provisions
    (World Bank, 2009-06-30) World Bank
    This report is structured in three volumes: competition provisions; environment provisions; and labor mobility provisions. The main messages of this three volumes are as follows: 1) competition laws and policies are increasingly being established at the regional level, as they could be instrumental in supporting the benefits of trade and investment liberalization; 2) China may want to use the opportunity of these negotiations to: (a) further discipline its state-owned enterprises;(b) carefully consider the possible role of antidumping policies; and (c) promote and lock-in domestic reforms aimed at improving its domestic competition policies; 3) with a shift of the development agenda from primarily pursuing growth to achieving a more balanced and sustainable development and taking into account China's high reliance on trade, it may be increasingly in China's interest to pro-actively engage its partners on environmental issues in its regional trade agreement (RTA) negotiations; and 4) while the world economy stands to gain massively from liberalization in the mobility of labor, adverse popular reaction to the economic and social impacts of immigrants has kept progress in enhancing global labor mobility well below progress in trade and capital liberalization.
  • Publication
    China Capital Markets Development Report : China Securities Regulation Commission
    (China Financial Publishing House, 2008-01) Qi, Bin
    The 'China capital markets development report' provides a good overview of the development of China's capital markets and explores future strategies. The report starts by reviewing historical events in the evolution of China's capital markets which have grown from small and unorganized regional markets into a national market today. By summarizing lessons learned during the market evolution and analyzing major gaps between China's capital markets and more mature markets, the report tries to propose a strategic design and vision for China's capital markets development for the next decade and beyond. Since the commencement of economic reform and opening up, China has gone through significant economic and social changes, and the socialist market economic regime has been established and steadily improved. Between 1979 and 2007, China's Gross Domestic Product (GDP) has been growing above 9 percent annually on average and China has become the fourth largest economy in the World. China's capital markets emerged and developed during the same period. With joint efforts by all relevant parties, China's capital markets have been able to reach a level of development that took many mature markets decades or even a hundred years to achieve. Along the way, the legal and regulatory frameworks, and trading and clearing systems have developed according to international best practice and China's capital markets have been increasingly recognized by international investors. The emergence and development of capital markets has been closely linked to mass production. They are the prerequisite for, and important indicators of, a modern market economy. Capital markets promote the development and improvement of market-driven resource allocation, resulting in the optimization of social resources. As the world financial markets become increasingly global and integrated, competition among capital markets and financial centers around the world is becoming increasingly intensive, leading to a fast-changing landscape in capital markets. The competitiveness and viability of the capital markets have become important components of national competitiveness.