This book studies the new economic and financial reforms China is adopting to advance its economy, and the policies behind the Chinese Outbound Direct Investment (ODI). It also aims to illustrate the impact of China's reforms on Chinese Outward Investments, and the Internationalization of the RMB.The book explores the new wave of reforms, especially in the financial sector, together with President Xi Jinping's vision for a shared future for mankind together with his explanation on the 'new Era'. In fact, China is entering a 'New Era' and transforming its economy into a more sophisticated one, upgrading the industrial sector and introducing specific and dedicated reforms in the SOEs (State Owned Enterprises) to render them more efficient and allow them to compete fairly at the international level.The book also focuses on RMB 'internationalization'. It also contains an addendum on trade frictions between China and the US.

China has quickly moved into a critical point in the sense that its past performance in economic growth and development has created so many unsolved problems, and for such problems to be addressed, a better understanding of these problems and a clear policy framework are required for policy makers to conduct reforms. Based on highOColevel empirical research on China''s economic development by each of the contributors, this edited book provides an in-depth and clear analysis of many of important issues facing China''s move to new phase of economic development and transformation, and discusses policy issues involved in further reforms.

This book shows the impact of the recent trade tensions between China and the US on the world trade order, and how parties have reached a deal (so called 'phase one', January 2020), which could lead to a more comprehensive agreement, and the consequences of these 'adjustments' in shaping new equilibriums.After 40 years, China has transformed into an economic superpower, which could now rival the US. This has evoked some concerns, and put the US in an uncomfortable position, as the US views the rise of China as a threat to its predominance and interests. However, China's development and its increasing economic power, which is a direct consequence of the ongoing reform process, is unstoppable.The confrontation between China and the US will favor Chinese expansion into the EU not only because the EU offers a more receptive environment for Chinese Foreign Direct Investment, but also because the EU and China have more in common if we consider the Belt And Road Initiative and the new bilateral investment agreement which is under negotiation. The EU, not only represents the final destination of the BRI, but also a more logical and convenient trade partner for China.The shift of Chinese attention toward the EU will also change the equilibrium between China, the EU and the US, bring forth the negotiation of new trade agreements, and move the entire international community towards a new world trade order and a new multilateralism which might evolve into a tripolarism.

This book treats different themes which are intrinsically linked and of extreme significance for the entire global community such as the necessity to cut emissions and transit toward a more sustainable and green economy. The content extends to the urgency to shape a new multilateralism and reinforce cooperation to achieve global goods, where the environment comes first, to the green finance which will play a fundamental role for the green transition paying particular attention to the United Nations' 2030 Agenda for Sustainable Development.A particular emphasis is given to the so-called 'Dual Circulation Strategy' (DCS) which is presently becoming the priority not only for China but also for the rest of the global community. Due to the uncertainties caused by the pandemic and other external factors, China has substituted GDP growth with the so-called six guarantees (liù bǎo 六保) which represent the six fundamental aspects of the economy and society that according to the central government must receive priority attention, and protection in economic policy to ensure economic recovery. China also introduced the concept of an 'ecological civilization' (shēngtài wénmíng 生态文明) through green, low-carbon economic development. One of the targets is to achieve carbon neutrality before 2060, though the rest of the global community and in particular the European Union with its Green Deal, and the US with its renewed climate policies, are pushing to reach this objective in 2050.In order to grant all these developments, 'green finance' plays a fundamental role for the success of this green transition. Therefore, a substantial part of this book explores the many aspects surrounding this theme. Due to renewables playing a very important role in the green transition, the final part of this book explores investment opportunities related to the development of these alternative sources of energy.

This book aims to illustrate the impact of COVID-19 on the global aviation industry and its many facets and disruptive innovations this crisis is bringing to the industry, triggering a new phase of development for air transportation. As a result, there has been increased attention on the green aviation industry using new sustainable fuels (including hydrogen). The aviation industry is also moving towards operating electric aircraft. The book emphasizes a new concept of air travel and an entirely new type of aircraft called eVTOL, which is to say - electric Vertical take-off and landing aircraft. This new reality is already taking place with the development of prototypes. However, the road to its implementation is full of challenges.The later part of the book focuses on how China has opened doors to the private aviation sector as the country foresees an enormous opportunity to push its internal economy and aviation industry further.

The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.

China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.