Introduction: Foreign Investment in China under the Open Door Policy

Feng Li and Jing Li
Additional contact information
Feng Li: Strathclyde University

Chapter 1 in Foreign Investment in China, 1999, pp 1-25 from Palgrave Macmillan

Abstract: Abstract Since the implementation of the economic reform in late 1978, China has achieved impressive results, including rapid economic growth, major structural changes and unprecedented improvement in living standards for the majority of its 1.2 billion people.1 In spite of challenging political, social and economic problems,2 annual economic growth (GDP) during 1978–92 averaged 9 per cent, further increasing to 12 per cent during the eighth five year plan (1991–95), with industrial growth in the coastal region far exceeding these ‘modest’ figures.3 In 1993, the UBS International Finance predicted that the Chinese economy would have quadrupled that of 1980 by 1994 (which actually happened in 19954), and it could double again by 2002.5 The calculations made by the World Bank and the International Monetary Fund (IMF) concluded that on a comparable basis, China had become the world’s second largest economy after the USA, with an estimated GDP of US$2850 billion in 1990 by ‘purchasing power parity’ (PPP), and over US$2000 billion by ‘new country weight’ in 1992.

Keywords: Foreign Direct Investment; Foreign Investment; Purchasing Power Parity; Chinese Communist Party; Chinese Economy (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37912-1_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230379121

DOI: 10.1057/9780230379121_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().