Foreign Investment in China by Feng Li
By Feng Li
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For example, some Far East economies, particularly the 'Four Dragons' and, more recently, China, have been developing rapidly and continuously for a long time. The rapid growth of the 'Four Dragons' since the 1960s has been well documented. Stating in the late 1970s, the Chinese economy achieved an average annual real growth of 9 per cent (between 1978 and 1992); and between 1991 and 1995 the annual growth averaged 12 per cent (3-4 per cent higher than the planned economic growth rate for the 'eighth five year plan').
Li and D. Sculli (1989) 'Labour relations and foreign investors in the Shenzhen special economic zone of China', Journal of General Management, 14(4), Summer 1989. 50. Lockett, Martin (1987) 'China's special economic zones: The cultural and managerial challenges', The Journal of General Management, Vol. 12, No. 3, Spring 1987; Lockett, Martin (1988) 'Culture and the problems of Chinese management', Organization Studies, 9(4). Introduction 25 51. Child, J. (1994) Management in China during the Age of Reform, Cambridge University Press, Cambridge.
A later report (also in 1996), Poverty in China: What do the numbers say? put the figure at US$1800, reducing the estimated size of the Chinese economy by over a quarter. Never- Introduction 7. 8. 9. 10. 11. 12. 13. 14. 21 theless, the size of the Chinese economy is still over US$2000 billion. ', pp. 79-85. Wang, Qingxian and Rong Huang (1996) 'We Start from H e r e ' ^ o Men Cong Zhe Li Qi Bu), The People's Daily (Overseas edition), 7 March 1996, pp. 1 and 3. An important step in reforming the state owned enterprises in China was the 'optimisation of capital structure'.