对于中国合资企业的研究.pdf

JOINT VENTURES IN CHINA JINGHAN CHENi ,JOHN RAFTERYz AND DAVID WILLS3 A discussion paper presented at CIB working commission W-55 Building Economics 21st annual meeting, Hong Kong, September 5-9,1994 1. INTRODUCTION This discussion paper presents a study of Joint Ventures (JVs) - which have been a major form of foreign direct investment (FDI) in China-, in the context of received theory and operationalpractice, and in particular: an investigation of the popularity of JVs; a comparison of characteristics ofjoint ventures in China and in developing and developed countries world wide based on the leading international surveys; and finally; an analysis of -JV operational problems. 2. DEVELOPMENT OF FDI China has been successful in attracting substantial amounts of FDI since 1978. By the end of 1992,there were 84,000 approved FDI contracts of which 34,200 were in operation. A total of US$110 billion of FDI had been committed, of which about US$430 billion had been utilised. The share of FDI enterprises in Chinas total exports increased from less than 0.5% in 1984 [Khan, 911 to 20% in 1992. Particularly, as a result of Chinas announcement of further opening of regions and sectors of foreign investors in 1992,FDI inflows reached a record high level. The total utilised FDI in 1992 was US$l 1 billion, an increase of more than 200% over 1991,and equivalent to almost a third of the cumulative utilised FDI in China since 1978. In 1992 a total of 48,858 FDI projects were reported to have been approved, with a commitment value of US$58 billion, up 380% over 1991, and more than the total of all FDI co