Author/Presenter

Lu, Jinyong (University of International Business and Economics, Beijing)

Title

The Development Status, Potential, and Main Features of China's Multinational Corporations

Abstract

This study looks into the development status, potential, and main features of China抯 multinational corporations. Against the backdrop of China’s opening and reform policy, in particular the implementation of "going out" strategy, China's multinational corporations have been enjoying remarkably rapid growth to the extent that their influence in the world economy cannot be neglected. Compared with those multinationals from other countries or regions, however, Chinese multinationals demonstrate their unique characteristics, due to the unique socioeconomic environment in which they have been growing. As such, this paper attempts to highlight Chinese multinationals in the global economic context by analyzing their development status, potential, and main features. Based on these analyses, it argues that Chinese multinationals will play an increasingly important role in the world and, consequently, China will step forward from a "big" FDI country to a "strong" FDI country in the future.

Author/Presenter

Liu, Jianping (Hubei University)

Title

The R&D Production Efficiency and the Influencing Factors on Chinese Industrial Sector

Abstract

Based on selected research and development (R&D) capitals, this paper focuses on Chinese industrial sectors (1993~2008). Firstly, it utilizes a knowledge production function model together with a stochastic frontier production function method to conduct an empirical study. Secondly, it investigates how the factors of industrial human capitals work, including the degree of trade openness, technological gap, industrial competitiveness, and physical capital stock. Thirdly, the study examines how technological development and ownership structure impact on R&D production efficiency. Finally, this study comes to the conclusion that R&D capitals produce a significant impact on R&D production efficiency, the factors of the human capital, and the degree of trade openness. Particularly, it shows that physical capital stock has a profound impact on improving R&D production efficiency whereas technological gap imposes an inhibitory effect on R&D efficiency improvement. This study also indicates that industrial competitiveness and the state-owned property industry have not yet contributed to R&D production efficiency improvement while high-tech industry has demonstrated a higher R&D production efficiency.

Author/Presenter

Yu, Chunjiao (Hubei University)

Title

The Technological Sophistication of China's Manufactured Export and Its Determinants

Abstract

The technological structure of China's manufactured export has significantly upgraded with the rapid export growth since the 1990s, which caused us to think whether the technological contents of China's manufactured export has caught up with that of the developed countries. By extending Hausmann’s calculating methodology of technological sophistication of manufactured export, we decompose the total technological sophistication of China's manufactured export into technological sophistication of import inputs and domestic manufacturing processes, so as to accurately calculate the technological sophistication of China’s manufactured export by eliminating the "contribution" of import inputs through vertical specializations. We calculate sophistication index of China’s manufactured products at the 3-digit and 5-digit levels and compare with those of main OECD countries .We find that both the total and domestic technological sophistication indices of China's manufactured export have increased steadily during the period of 1995-2010, but they are obviously lower than those of the main OECD countries. We then empirically test the determinants of China's manufactured export, and find that the intensity of China's vertical specializations in the world, rise of the ratio of capital to labor and financial deepening are main contributing factors.