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The Evolution and Main Features of China's Foreign Direct Investment Policies

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  • Chen Chunlai

Abstract

This paper examines the evolution and the main features of China's inward foreign direct investment policies implemented since 1979. The paper reveals that in all the policy aspects relating to FDI China has taken a positive but gradual reform approach. This has been demonstrated by the gradual shifts from the establishment of the four SEZs to the nationwide implementation of open policies for FDI, from granting permission for joint ventures to allowing wholly foreign owned enterprises, from tight foreign exchange control to RMB convertibility on current account and from offering tax incentives to attract FDI to the application of national treatment. Despite the limitations, this reform process has proved both politically necessary and empirically successful. The gradual changes to China's FDI policies clearly indicate that China has continued to express a strong desire to stimulate and guide its economic development through promoting a more liberalised legal and policy environment to attract FDI and through further pursuing economic reform to establish a more market-oriented economy.

Suggested Citation

  • Chen Chunlai, 1997. "The Evolution and Main Features of China's Foreign Direct Investment Policies," Chinese Economies Research Centre (CERC) Working Papers 1997-15, University of Adelaide, Chinese Economies Research Centre.
    • Handle: RePEc:adl:cercwp:1997-15
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    File URL: https://media.adelaide.edu.au/economics/papers/cerc/cercwp1997-15.pdf
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    Cited by:

    1. Klaus Desmet & Felipe Meza & Juan A. Rojas, 2008. "Foreign direct investment and spillovers: gradualism may be better," Canadian Journal of Economics, Canadian Economics Association, vol. 41(3), pages 926-953, August.
    2. Taube, Markus, 2005. "Spillover-effects, crowding-in and the contributions of FDI to growth in China: A review of the literature," Duisburg Working Papers on East Asian Economic Studies 74, University Duisburg-Essen, Asia-Pacific Economic Research Institute (FIP).
    3. World Bank, "undated". "World Bank East Asia and Pacific Economic Update, April 2014 : Preserving Stability and Promoting Growth," World Bank Publications - Reports 18378, The World Bank Group.
    4. Zeng, Douglas Zhihua & Wang, Shuilin, 2011. "China and the knowledge economy : challenges and opportunities," Policy Research Working Paper Series 4223, The World Bank.
    5. Françoise Lemoine, 2000. "FDI and the Opening Up of China's Economy," Working Papers 2000-11, CEPII research center.
    6. Christer Ljungwall, 2004. "Guangdong: A catalyst for economic growth and exports in hunan province," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 2(3), pages 249-265.

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