Abstract:Chinas economy has achieved“a unique high growth rate”in 2001,despite slowdown of the world economy.But some underlying problems should not pass unnoticed.With analysis on the specical features of Chinas economic growth,the paper identifies the high priority of employment for Chinas sustained economic growth,which includes the high employment in urban areas and trasfer of surplus labor force from rural areas.It is believed that the solution relies upon the adjustment and upgrading of industrial structures,which is closely linked with upgrading of consumption structures of urban households.As housing a key part of urban consumption structure upgrading,finance innovation plays an important role in improving the affordability of households.As a result of stimulating the housing industry and urbanization through financial innovation,the urban development will pull the rural economy,which in turn push forward urban economy.Thus,the joint improvement of employment in urban and rural areas will contribute to the next round of Chinas economic growth.

Abstract:We analyse the relationship of price fluctuation of assets and stability of Economy in this paper,it includes:the theory of price fluctuation of assets and stability of Economy;the form of bubble in Japan,Chinese economy and how to avoid the bubble.

Abstract:There exists a typical spatial dualism in Chinas regional economic development since 1978. It has been considered that spatial dualism is closely linked with an unbalanced distribution of foreign direct investment FDI in an open economy. This paper examined effects of FDI on regional economic growth in China employing time-pooling and cross-section data between 1985 and 1999. It found that FDIs inflows lead approximately to ninety percent of the gap in GDP growth rate between eastern developed regions and western undeveloped regions in China.

Abstract:On the background of classical economic growth theory,a group of multi-variance models are put into study in this article.The key drivers such as regional discrepancy of per capita GDP,regional discrepancy of domestic investment quantity,regional discrepancy of domestic investment efficiency,regional discrepancy of FDI quantity and regional discrepancy of FDI efficiency,have been analyzed here to work out a clear conclusion.Instead of FDI regional disparity,the discrepancy of domestic investment,especially in the aspect of investment effiency,has been the main reason for the remarkable difference of economic development among the provinces in China.On the basis of this,the strategy of narrowing regional difference in investment quality has been put forward.

Abstract:Private investor is usually a weakling in getting information about listed companies. This paper is to make an exploration, by questionnaire, of China private investors characters of information demand, attitude to existing information supply and the probable differences on private investors information demand and decision-variable choice between China and the western countries. We found, reality, timely and full disclosure are the most important qualifications of information from the standpoint of private investors in China. So that, we suggest that the government should improve the regulations related to information disclosure, enhance supervision, control and punishment, to promote the listed companies and intermediaries such as accounting firms to make reliable and timely disclosure, and to encourage the listed companies to make much more future-orient voluntary disclosure such as the estimation about a companys future profitability.

Abstract:In the period of 1999—2001,90 cases concerning the transaction of state-owned share and legal share have occurred among 88 listed companies in the two stock markets of Shanghai and Shenzhen.We take these cases as our research samples.After analyzing the transfer prices,we found the average transfer prices of the sample companies are 30 percent higher than their net asset value.The authors then conduct the multi-variable linear regression analysis on the factors influencing transaction prices,and find that with the increase of percentage of share being transferred,the transfer price will go up,and be statistically significant.The transfer premium goes inversely with the scale of companies,and is statistically significant.Also,their profit capability goes inversely with the premium,but is statistically insignificant.In the end part of this article,we compared the expropriation degree in a global vision.

Abstract:This paper examines the integration or segmentation of Share A and Share B by utilizing the model originally developed by Stehle and improved by us based on CAPM and employing data from Shanghai Stock Market and Shenzhen Stock Market.The empirical results show that markets for Share A and Share B are integrated to great extent.

Abstract:This thesis aims at revealing that the criteria of defining products defects is influenced by quality preference and price preference of consumers、the elasticities of supply and demand、the sensitivity of new technology in a certain industry, which are determined by economic development level、income、technology、product characteristics etc in the opportunity set of a certain country. In the thesis, authors establish a model of the criteria of defining products defects on the basis of comparative analysis on current products liability system between Sino-US legal systems, with the reference of Benjamin Kleins market performance and quality guarantee model,and prove the fact that the criteria of defining products defects in products liability system is the choices made by the interest groups under the constraint of opportunity set according to the principle of self-surplus maximization.

Abstract:The accounting information quality of accounting rules is an imprtant question to be resolved.Based o nthe analysis of the Conflict and Harmonization of Interest among the Stakeholders CHIS,this paper considers that accounting order is the outcome of CHIS.The truth of accounting information is relative to the special accounting order.Rule Distortion of Accounting Information RDAI exists objectively because knowledge is relative and the humans rationality is bounded.To improve the quality of accounting rules,a mechanism should be set up through which accounting order can be known timely and more knowledge can be used.This Paper also analyses the establishment of accounting ruless in USA and China,and brings forward some measures to the improvement of the accounting rules quality in China.

Abstract:The preference for the development of large industrial enterprises will result in serious unemployment and inadequate consumption owing to the increasing ratio of capital to labor capital and hence the decrease of labor force employment affected by the decreasing ratio of profit to capital and increasing labor cost.The agricultural sector will also release substantive labor for the increase of the ratio of land to labor.In contrast,the small and middle enterprises SMEs are not subjected to the same rule because of lower ratio of capital to labor.Therefore,promoting the development of SMEs can accepted the labor force released from both the industrial sector and agricultural sector,which will contribute to the equilibrium of capital,employment and consumption and avoid the severe unemployment and relative product surplus.The underdevelopment of SMEs will make the transfer of savings to investment demands much difficult for the lack of smooth private investment channel.Development of SMEs,smooth investment channel,the transfer of labor surplus disadvantage to labor-intensive advantage and the conglomeration effect resulted from the concentration of the SMEs during the urbanization will be the impetus to the rapid growth of Chinese economy in the future ten to fifteen years.

Abstract:This paper discusses the nature of the firm. Based on the papers on the contractual theory of firm, and further analysis, the paper show us that the nature of the firm is a fulfilling process of a set of incomplete contracts of factors using rights transactions entered into by factors owners in the market. The process includes input of factors, the exercising of factors using rights residual rights of control as its core,the allocation of the value-added of factorsthe exercising of claim to residue as its coreand the creation and use of firms organizational capital and organizational assets,the transaction function and production function are highly integrated in the process. So, residual rights of control and claim to residue constitute the core content of the set of contracts. As a fulfilling process of a set of incomplete contracts of factors using rights transactions, the firm and the marketssuch as factors markets, assets and service markets, etc. can not be viewed as complete mutual oppositions, but as the basis for one anther, and they promote one another.