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Following China's accession to the WTO in 2001, reform of its
science and technology system has deepened. This book provides an
in-depth analysis of the high-tech sector, examining Chinese
high-tech industry policy, the emergence of industrial clusters,
the R&D activities of multinational corporations operating in
China, and the prospect of commercialization of high-tech
achievements. The authors argue that since commercialization has
become the ultimate objective of innovation activity, the
relationship between R&D facilities, the local economy and
local enterprises has become closer, thereby boosting the
technology innovation capability of the corporate sector. They go
on to explore regions with the greatest scale and depth of
high-tech industry development: Beijing, Shenzhen, Shanghai and
Shaanxi; which now serve as models for other regions. The book
concludes that although high-tech exports have become an important
contributing factor to China's economic growth, the country still
has no effective mechanism for high-risk investment, therefore
Chinese high-tech enterprises still find it difficult to secure
financing. This book will strongly appeal to those affiliated to
multinational enterprises: managers, brokers, dealers and
investors, as well as academics and researchers specialising in
business economics and Asian studies.
The establishment of the Shanghai Stock Exchange in December 1990
was a landmark in China's institutional transformation. With this
in mind, the authors consider the factors relating to institutional
change - such as changes in the financial system, the scale and
structure of stock market, operational efficiency and the
regulatory system of the stock market. During the course of its
development the Chinese stock market has experienced speculation,
dramatic fluctuations and violations of market regulations of
frequent and diverse natures. There is therefore, urgent need for
the discussion contained within this volume of best procedure
policies for the establishment of a properly ordered and regulated
market. The authors assess the operational performance of listed
companies, and changes in the external environment such as the
impact of China's accession to the WTO on the stock market. The
authors find that WTO accession will have a more serious impact on
the more heavily protected agricultural sector and on
capital-intensive industries such as automobile, instruments,
cotton and wheat to name a few. They argue that the fundamental
reason for the inefficiency of China's stock market is the weakness
of the competitive mechanism leading to imperfect competition and
rent-seeking activity. This book will be of great interest to
academics and researchers of Asian studies and money and finance.
Multinational enterprise managers, as well as brokers, dealers,
business economists and others involved in the global financial
markets will also find this book of value.
Financial reform has been a major concern for China's transitional
economy - especially in the realms of banking and insurance - since
accession to the WTO in 2001. This book scrutinizes the development
and limitations of these industries during the process of
institutional transformation, and demonstrates that they are now
facing severe challenges as well as opportunities. The
relationships between the market structure, behavior and
performance of China's banking and insurance industries are
analysed. The strengths, weaknesses, opportunities and threat
(SWOT) approach is utilized in investigating the impact of WTO
accession on Chinese banking and insurance, and strategies for the
prevention of future financial crises are prescribed. Exploring the
juxtaposition of institutional transformation in China and the
financial risk inherent in the old system, the book concludes that
with WTO accession and the opening up of financial services to
foreign companies, competitiveness will become fiercer, resulting
in increased uncertainty, intensifying the level of risk even
further. Banking and Insurance in the New China will prove
invaluable to multinational enterprise managers, brokers, dealers
and investors, business economists, students and academics with a
specific interest in the Chinese economy.
Since China's accession to the WTO in 2001, the Chinese
government's original strategy of progressively opening up to
attract foreign investment has resulted in capital flowing out as
fast as it comes in. This book discusses cross-border mergers and
acquisitions (M&A) by Chinese companies, mainly to clarify
their strategies and the effect of their M&A at an
international level. Chien-Hsun Chen and Hui-Tzu Shih also explore
the strategies and considerations of both Chinese and international
companies - including those from Taiwan - who conduct M&A in
China. This is an invaluable study on the acquisition and transfer
of technology, branding and marketing channels within the context
of competitive cooperation on development targets for foreign,
Taiwanese and Chinese companies. Critical points of discussion
include China's policy changes and Chinese companies as well as the
M&A strategies of international companies in the Chinese
marketplace.Mergers and Acquisitions in China will be a fascinating
read for multinational enterprise managers, brokers, dealers and
investors. The in-depth analysis will prove invaluable for scholars
and researchers of business economics, international economics and
Chinese studies.
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