Market Integration in China

Over the last three decades, China's product, labor, and capital markets have become gradually more integrated within its borders, although integration has been significantly slower for capital markets. There remains a significant urban-rural divide, and Chinese cities tend to be under-sized by international standards. China has also integrated globally, initially through the Special Economic Zones on the coast as launching grounds to connect with world markets, and subsequently through the accession to the World Trade Organization. For future policy considerations, this paper argues that its economic production needs to be spatially concentrated, and its social services need to be spread out to the interior to ensure harmonious development and domestic integration (through inclusive rural-urban transformations and effective territorial development).

Bibliographic Details

Main Authors:	Chen, Qingqing, Goh, Chor-Ching, Sun, Bo, Xu, Lixin Colin
Language:	English
Published:	2011-04-01
Subjects:	ACCESS TO FINANCING, ACCOUNTING, ADB, AGENCY PROBLEMS, AGRICULTURAL OUTPUT, AGRICULTURE, ALLOCATION OF CAPITAL, AUTONOMY, BAILOUT, BANK FINANCING, BANKRUPTCIES, BANKS, BUSINESS ENVIRONMENT, CAPITAL FORMATION, CAPITAL INVESTMENT, CAPITAL INVESTMENTS, CAPITAL MARKET, CAPITAL MARKETS, CAPITALIZATION, CAPITALS, COMMODITIES, COMMODITY, COMMODITY PRICES, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPARATIVE ECONOMICS, COMPETITIVENESS, CONSUMERS, CONTRACT ENFORCEMENT, CORPORATE GOVERNANCE, CURRENCY, DECENTRALIZATION, DEVELOPING COUNTRIES, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICY, DEVELOPMENT STRATEGY, DISPOSABLE INCOME, DOMESTIC CURRENCY, DOMESTIC MARKETS, ECONOMIC COOPERATION, ECONOMIC DEVELOPMENT, ECONOMIC EXPANSION, ECONOMIC GEOGRAPHY, ECONOMIC INTEGRATION, ECONOMIC RELATIONS, ECONOMICS, EMERGING MARKET, EMPLOYMENT, EXCHANGE CONTROLS, EXCHANGE RATE, EXPENDITURE, EXPORTS, EXPROPRIATION, EXTERNAL FINANCING, FEDERAL RESERVE, FEDERAL RESERVE SYSTEM, FINANCES, FINANCIAL MARKET, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SYSTEM, FIRM PERFORMANCE, FISCAL DECENTRALIZATION, FISCAL POLICIES, FIXED INVESTMENT, FIXED PRICES, FOREIGN BANKS, FOREIGN CAPITAL, FOREIGN COMPETITION, FOREIGN DIRECT INVESTMENT, FOREIGN DIRECT INVESTMENTS, FOREIGN EXCHANGE, FOREIGN FIRMS, FOREIGN INVESTMENT, FOREIGN INVESTMENTS, FOREIGN MARKETS, FOREIGN OWNERS, FOREIGN OWNERSHIP, FUND MANAGEMENT, GDP, GDP PER CAPITA, GINI COEFFICIENT, GLOBAL ECONOMY, GLOBAL MARKETS, GLOBAL STANDARDS, GLOBALIZATION, GOOD GOVERNANCE, GOVERNMENT INTERVENTION, GOVERNMENT REVENUE, GROSS DOMESTIC PRODUCT, GROWTH RATE, GROWTH THEORIES, HOUSING, INCOME, INCOME GROWTH, INCOME INEQUALITY, INCOME LEVELS, INCOME TAX, INDUSTRIALIZATION, INEFFICIENCY, INFORMAL FINANCE, INFORMATION TECHNOLOGY, INSTRUMENT, INSURANCE, INSURANCE COMPANIES, INTERNATIONAL BANK, INTERNATIONAL COMPETITION, INTERNATIONAL COOPERATION, INTERNATIONAL ECONOMICS, INTERNATIONAL INVESTORS, INTERNATIONAL MARKET, INTERNATIONAL STANDARDS, INTERNATIONAL TRADE, INVESTING, INVESTMENT CLIMATE, INVESTMENT DECISIONS, INVESTMENT PROJECTS, INVESTMENT RATES, INVESTOR CONFIDENCE, JOB CREATION, JOINT VENTURES, JURISDICTION, LABOR COSTS, LABOR MARKET, LABOR MARKETS, LAND USE, LARGE CITIES, LIBERALIZATION, LIFE INSURANCE, LIVING STANDARDS, LOCAL GOVERNMENT, LOCAL GOVERNMENTS, LORENZ CURVE, MARGINAL PRODUCT, MARGINAL PRODUCTIVITY, MARKET ACCESS, MARKET DISCIPLINE, MARKET ECONOMY, MARKET INTEGRATION, MARKET SHARE, MERGERS, MIDDLE-INCOME ECONOMY, MIGRANT LABOR, MIGRATION, MOBILE PHONES, MONETARY FUND, MORAL HAZARD, MUNICIPALITIES, NET EXPORTS, OPEN MARKETS, OUTSOURCING, OWNERSHIP STRUCTURE, PER CAPITA INCOME, POLITICAL ECONOMY, POWER PARITY, PRIVATE PROPERTY, PRIVATE SECTOR DEVELOPMENT, PRIVATIZATION, PRODUCT MARKETS, PRODUCTIVITY, PRODUCTIVITY GROWTH, PROFITABILITY, PROPERTY RIGHTS, PROTECTIONISM, PURCHASING POWER, RAPID GROWTH, RAPID INDUSTRIALIZATION, RATE OF RETURN, RATE OF RETURN TO CAPITAL, REFORM PROGRAM, REGIONAL INTEGRATION, REGIONAL TRADE, REGULATORS, REGULATORY ENVIRONMENT, REGULATORY RESTRICTION, REINVESTMENTS, REMITTANCES, RENT SEEKING, RESOURCE ALLOCATION, RETURN, RETURNS, RISK SHARING, RURAL­URBAN MIGRATION, SECURITIES, SHAREHOLDERS, SOCIAL SERVICES, STATE BANKS, STOCK MARKET, STOCK MARKET CAPITALIZATION, STRATEGIC COMPLEMENTARITIES, STRUCTURAL CHANGE, TAX, TAX LAWS, TAX POLICIES, TAX RATES, TAX REVENUES, TAXATION, TECHNOLOGICAL ADVANCES, TECHNOLOGY TRANSFERS, TELECOMMUNICATIONS, TRADE BARRIERS, TRADE CREDIT, TRADE FLOWS, TRADE SECTOR, TRADING, TRADING SYSTEM, TRADING SYSTEMS, TRANSITION ECONOMIES, TRANSPORT, URBAN ECONOMIES, URBAN GROWTH, URBAN SERVICES, URBANIZATION, VALUE ADDED, VOLATILITY, WAGES, WEALTH, WORLD ECONOMY, WORLD MARKET, WORLD MARKETS, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110408152448 https://hdl.handle.net/10986/3396
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