Shanghai surprise: industrial capital responds to call for economic reform
Article Abstract:
Industrial capital Shanghai in China is rushing plans to catch up with fast-rising Guangdong province, which has attracted many foreign investors. Pudong province, which enjoys privileges similar to those of the special economic zones but does not have an autonomous government, is the site of major infrastructure projects and is envisioned to be Shanghai's industrial center. Shopfronts for Pudong's products will be located in Shanghai, which will emulate Hongkong and Singapore as a commercial center for finance, trade, property and insurance.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Arbitrage in China
Article Abstract:
China is fast turning to currency trading as a form of financial investment, especially in the southern region. Guangdong province, for example, has been able to account for 40% of China's export earnings primarily through currency trading. Enterprising couriers secretly transport an average of Rmb 1 million ($183,500) to different regions for trading. With the average monthly wage at only Rmb 300-500, Chinese money traders certainly prefer the Rmb 30,000 earned for every 10-15 trading trips.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Balancing act
Article Abstract:
The Chinese government has granted Shanghai's Pudong economic development zone with preferential foreign-investment incentives in order to make it more competitive with neighboring Guangdong province. The new guidelines would provide local firms with import-export rights and greater control over their foreign exchange earnings. Foreign firms would also be allowed to run food and retail businesses. The Chinese government has also earmarked additional funds for the special economic zone.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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