This book provides a thorough and practical interdisciplinary
foundation for analyzing and structuring business relationships
with customers in China in a post-Tiananmen context. The authors
present a carefully crafted and timely synthesis of the commercial,
financial, and legal framework that has been adopted by China to
encourage foreign trade and investment. It focuses on China's
steadfast commitment to the support of market-oriented reforms
throughout the period of economic isolation imposed by the
international community of nations from June 1989 through mid-1991.
Support is provided for the position that China has irrevocably
embarked on its journey toward a market economy and that the
climate for foreign trade and investment has become sufficiently
stable to warrant serious consideration by foreign business with
long-term expansion goals.
The book begins with a historic overview of economic and legal
developments in China since 1949. The impact of economic reforms
implemented in response to the open door policy adopted by the
Chinese leadership in 1979 on the state-planned, product-oriented
command society is analyzed in the context of the decentralization
of managerial responsibility. The structure and operations of
domestic Chinese entities are examined in detail. Also emphasized
is the importance of understanding the legal and practical aspects
of these relationships prior to entering into serious negotiations
with a potential partner. Care is taken to fully examine the
Chinese Economic Contract Law and the Chinese Foreign Economic
Contract Law. The role and function of China's major financial
institutions are reviewed, and China's foreign exchange control
system is also examined. The structure of China's foreign trade
controls including tariff and non-tariff measures is analyzed for
its impact on China's application for participation in GATT.
Finally, the book focuses on integrating China's evolving
commercial and legal framework for foreign trade and investment
into actual business ventures with foreign partners. Foreign
investment guidelines are reviewed, and the applicability of the
Chinese Foreign Joint Venture Enterprise Law is comprehensively
explained. The book is an indispensable tool for CEOs, strategic
planners considering off-shore expansion, and academicians in the
fields of international law, finance, and marketing.
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