This paper discusses the nature and determinants of trade of Mainland China, Hong Kong, and Taiwan, a region often … called "Greater China." Trade between Hong Kong and China is characterized by at least two features: re-exports and outward … processing. China is both the largest source and largest market for Hong Kong's re-exports. In addition, in 1995, 45% of Hong …

China is the world's largest investor and greatest contributor to global economic growth by wide margins. The … that China's stock market has a crucial role to play. Since the reforms of the last decade, China's stock market has become …, growth stocks, and long shots, and they discount for illiquidity and market risk. China's stock market no longer deserves its …

document the government responses to the crash and discuss how China may strengthen its financial system …

China's investment rate is one of the highest in the world, which naturally leads one to suspect that the return to … capital in China must be quite low. Using the data from China's national accounts, we estimate the rate of return to capital … in China. We find that the aggregate rate of return to capital averaged 25% during 1978-1993, fell during 1993-1998, and …

This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals …. Price informativeness is significantly correlated with corporate investment efficiency. For international investors, China …