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China’s change to a new model of growth, now called the ‘new normal’, was always going to be hard. Events over the past year show how hard it is. The attempts to moderate the extremes of high investment and low consumption, the correction of overcapacity in the heavy industries that were the mainstays of the old model of growth, the hauling in of the immense debt hangover from the fiscal and monetary expansion that pulled China out of the Great Crash of 2008 would all have been hard at any time. They are harder when changes in economic policy and structure coincide with stagnation in global trade and rising protectionist sentiment in developed countries, extraordinarily rapid demographic change and recognition of the urgency of easing the environmental damage from the old model. China’s economy has slowed and there are worries that the authorities will not be able to contain the slowdown within preferred limits. This year’s Update explores the challenge of the slowdown in growth and the change in economic structure. Leading experts on China’s economy and environment review change within China’s new model of growth, and its interaction with ageing, environmental pressure, new patterns of urbanisation, and debt problems at different levels of government. It illuminates some new developments in China’s economy, including the transformational potential of internet banking, and the dynamics of financial market instability. China’s economic development since 1978 is full of exciting change, and this year’s China Update is again the way to know it as it is happening

This book is intended to provide the narratives and analytics of China’s spatial (dis)integration. Indeed, the Chinese nation is far too large and spatially complicated and diversified to be misinterpreted. The only feasible approach to analyzing it is, therefore, to divide it into smaller geographical elements through which one can have a better insight into the spatial mechanisms and regional characteristics.

• Provides a combination of narratives and analytical narratives
• Includes annexes which evaluate provincial and interprovincial panel data and information collected and compiled by the author
• Offers specialized mathematics and statistical techniques

The venture capital market in China has been developing for over twenty years. Over this period, the legal frameworks surrounding China’s venture capital have evolved significantly. China’s Venture Capital Market addresses this important topic and argues for further improvements in legal frameworks for venture capital in China. The book consists of five chapters, each covering an aspect of venture capital in China. The first chapter profiles the venture capital market. The second, third and fourth chapters consider the legal problems and suggest reform measures for fundraising in, operation of and exit from Chinese venture capital. The book concludes by asking how long it will take for reform measures to take place in China.

• Fills a gap in the market by weighing up the pros and cons of the legal system under which venture capital operates in China
• Contains primary source material, including interviews with Chinese venture capitalists
• Gives new case studies of Chinese venture capital

The phrase ‘New Normal’ captures the ongoing shift in the pattern and drivers of China’s economic growth. China’s new growth rate is both slower and imposing difficult structural change. These new economic conditions are challenging yet offer opportunities for China and its economic partners. Reforms must be deepened but also make growth more inclusive and environmentally sustainable, over this decade and beyond. This year’s Update offers both global context and domestic insight into this challenging new phase of China’s domestic economic transformation. How are policymakers elevating migrant workers concurrent with increasing consumption? Is China’s government spending enough on education and R&D to ensure it can achieve its aspirations to ascend the global manufacturing value chain and avoid the middle-income trap? Are energy market reforms reducing or increasing the price of gas and electricity in China? What are the consequences of China’s financial reforms and expanding Renminbi trading for foreign banks? What does China’s new growth model mean for the international resources economy and for Africa? Do SOEs face market conditions and are they dominating China’s fast-rising outbound investment? What is China’s strategy for navigating fragmented international trade policy negotiations?