Table of Content

16 August 2004, Volume 24 Issue 8

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OUR NEW INDUSTRIALIZING STRATEGY AND REBOUNDING OF NORTHEAST INDUSTRIAL BASE

HE Yao-min

2004, (8):  5-10. 

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The northeast area is the cradle of our heavy chemical industry, the earliest industrializing area of the new China, and contributes greatly to our industrializing and modernizing in past several decades. For some extent, there would no industrializing of the new China if there was no development of northeast industry. Rebounding and development of the northeast industry base is greatly related to Chinese economic development, and is necessary for the new stage of our industrializing.

PATTERN OF ECONOMIC INTERNATIONALIZING AND STRATEGY CHOOSE OF CHINESE FIRMS' INTERNATIONALIZING

LIU Zhi-biao

2004, (8):  11-17. 

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Chinese economic internationalizing since the reform has been the transit trade, with the characteristic of mainly attracting foreign direct investment, which is different from export prompting of Japan and South Korea. Chinese choose is correct for the new challenges faced by the industrializing developing countries when globalizing. Meanwhile, the present pattern of Chinese internationalizing must be upgraded. Simple transit process trade would result in bad dual economy between native and foreign capital economy, hamper the internationalizing of Chinese firms and marginalizing them. To update the internationalizing strategy, we should develop the process trade mainly composed of out-sourcing by multinational firms, and encourage buying and merger foreign resources.

NEGATIVE SHOCK OF TAX REVENUES GROWHT TO ECONOMIC GROWTH

GUO Qing-wang, LU Bing-yang

2004, (8):  18-23. 

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This paper finds that rapid growth of tax revenues since tax system reform in 1994, which results in increasing rate of total tax revenues to GDP, has negative effects on our economic growth. It decreases rate of economic growth and output after tax per capital, and besides, the negative effects in the middle and west areas are more than that in the east areas. So, it is not good to our stable and long run e-conomic growth, neither to opening the grand western areas. The government should adjust the tax policy.

DIVERGENCE OF CHINESE REGIONAL FINANCIAL GROWTH:1978-2003

JIN Xue-jun, TIAN Lin

2004, (8):  24-30. 

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Based on econometric analysis of effective data from 1978 to 2003, this paper gets the following outcomes about Chinese regional financial growth: there is three changes of curves while no inverse U-shape curve; in the longer run, it needs more evidences for the inverse U-shape hypothesis; imbalance of our regional financial growth would be existed for a long time, which is also supported by the evolutionary economic theory. So, the convergence of our regional financial growth should not be stressed, and modest divergence should be retained.

INVERSE U-SHAPE RELATIONSHIP BETWEEN BOARD GOVERNING OF LISTED COMPANIES AND THEIR PERFORMANCES

LI Wei-an, ZHANG Yao-wei

2004, (8):  36-42. 

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Board governing is the core of corporate governing and is very important for improving corporate performances. Positive analysis of the relationship between board governing and their performances of our listed companies show the inverse U-shape curve. Its policy implications are: introducing strategic investors, improving the institutional development of board professional committee and strengthen the internal governing mechanisms, while lack of external governing mechanisms, weakening of big holders governing, weak inter-supervising inside the board and weak incentive effect of managers holding.