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Explanations

Chapter
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Part of the Studies on the Chinese Economy book series (STCE)

Abstract

The reform of China’s foreign trade system is very closely associated with the ascendency within the Communist Party of its principle advocate, Deng Xiaoping, following his re-emergence into the party hierachy after the Cultural Revolution. Appointed a vice-chairman of the party in 1975, Deng soon launched himself into a campaign to secure the reform of China’s foreign trade and investment policies. At the heart of Deng’s attempt at reform was the need to break China from Mao’s policy of self-sufficiency in technology and investment. Deng was firmly of the view that the regeneration of China’s flagging industrial development, now clearly exposed by the rapid rise of other East Asian economies, but particularly Hong Kong and Taiwan, would require substantially increased volumes of imported technology and equipment. In order to achieve this goal, Deng advocated the necessity of increasing exports substantially and, more problematically for the party, increasing foreign borrowings. These were necessary if imported technology was to be paid for.

Keywords

Foreign Exchange Foreign Trade Pearl River Delta Foreign Capital Export Growth 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 4.
    China Today: Foreign Trade, Book 1, pp 72–3 (Contemporary China Publishing House, Beijing, 1992) (in Chinese).Google Scholar
  2. 5.
    Ibid., p 73.Google Scholar
  3. 16.
    Zhu Wenhui, An Analysis of China’s Export Growth 1978–1996, PhD thesis submitted to the Peoples’ University, Beijing, 1997, p 52 (in Chinese).Google Scholar
  4. 18.
    Yang Fan, ‘Consideration of the Export Situation’, Capital Economy, Oct 1995, pp 14–16.Google Scholar
  5. 20.
    Zhu Wenhui, ‘The Export Tax Rebate and China’s Foreign Trade Reform’, Wide Angle, Jan 1996, p 50, (in Chinese).Google Scholar
  6. 21.
    Ibid., pp 50–2.Google Scholar
  7. 22.
    For a more detailed study of the process of marketization of the foreign trade regime see Zhu Wenhui, op. cit., note 16.Google Scholar
  8. 39.
    Asian Development Bank, Key Indicators of Developing Asian and Pacific Countries, 1995, pp 116–17.Google Scholar
  9. 41.
    JETRO China Newsletter, 118, Sept–Oct 1995, p 21.Google Scholar
  10. 42.
    Satoshi Imai, ‘Comparison of Western, Overseas Chinese and Japanese Ventures’, JETRO China Newsletter, 119, Nov–Dec 1995, p 18.Google Scholar
  11. 44.
    Satoshi Imai, op. cit., note 42, p 23.Google Scholar
  12. 45.
    Ibid., p 18.Google Scholar

Copyright information

© Thomas Chan, Noel Tracy and Zhu Wenhui 1999

Authors and Affiliations

  1. 1.Hong Kong Polytechnic UniversityHong Kong
  2. 2.International Relations and Political EconomyFlinders University of South AustraliaAdelaideAustralia
  3. 3.China Business CentreHong Kong Polytechnic UniversityHong Kong

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