profitability of foreign direct investments made by overseas Chinese in China. Our paper takes advantage of a large dataset-over 50 …,000 firms over a period of eight years-that is comprised of two types of foreign firms with investments in China-those owned by … China do not outperform non-ethnically Chinese firms by a set of conventional profitability measures. We also find that the …

pattern of foreign direct investment. Using detailed data from China, we show that foreign-owned affiliates and joint ventures …

, a level that China should achieve by or soon after 2015. Among our more provocative findings is that growth slowdowns …