Enterprises Heterogeneity, Bilateral Investment Treaty (BIT) and the Determinants of Chinese Firms’ Outward Foreign Direct Investment (OFDI)

Jinjing Zhao,Jongchul Lee 한국무역연구원 2019 무역연구 Vol.15 No.1

This paper analyzed Chinese enterprises’ outward foreign direct investment (OFDI) from the perspectives of Bilateral Investment Treaties (BIT) and enterprise heterogeneity. Firstly, in terms of BIT, we found that the existing literature was mainly focused on BIT and developed countries’ investment in developing countries as the research subject, and rarely discussed the role of BIT in OFDI by developing countries. In addition, in terms of enterprise heterogeneity, due to a limited dataset, the previous research could not be used to accurately understand Chinese investment’s ultimate objective, and could not be used to differentiate between differently owned enterprises. As a result, this paper uses a Multiple linear regression model to select data from Chinese foreign-investing enterprises from 2005-2016 provided by China Global Investment Tracker. We find that the signing of the BIT can promote Chinese enterprises to invest in the signatory countries. However, its role on the investment shows features differently due to the various ownership of firms. Thanks to the support of the home country system, BIT significantly promotes the foreign investment of state-owned enterprises, with little promotion for the non-state-owned enterprises.

중국의 FDI와 대외무역 발전의 관계분석 : 연해와 내륙지역 간의 차이규명을 중심으로

조진정(Jinjing Zhao),유혁동(Yitong Liu),이종철(Jongchul Lee) 한국통상정보학회 2020 통상정보연구 Vol.22 No.4

중국 정부는 외국인 직접투자를 규범화하고 수출입 무역을 이끌기 위해 1995년에 대표적인 법규로 <외국인 투자 산업 지도 목록>을 출범했다. 본 연구는 1985~2018년의 패널데이터를 활용하여 법규 출범 전후에 FDI와 대외무역 간의 관계변화를 분석하였다. 또한, 중국의 외국인 직접투자와 대외무역 간의 관계가 연해 및 내륙지역 간에 어떻게 다른지 살펴보기 위해 중국의 31개 성급단위를 연해지역과 내륙지역으로 구분하였다. 분석결과 상대적으로 시장경제체제의 수립이 미약하였던 1995년 이전에는 내륙지역은 물론 연해지역의 경우에도 외국인 직접투자와 대외무역 사이에 유의한 인과관계가 없는 것으로 나타났다. 사회주의 시장경제체제가 수립된 1995년 이후 연해지역에서는 외국인 직접투자의 유입이 대외무역의 발전을 촉진한 것으로 나타났다. 내륙지역에서는 1995년 이전의 외국인 직접투자가 대외무역의 발전을 촉진하지 않은 반면에 그 이후에 양자 간 쌍방 인과관계가 있는 것으로 나타났다. In 1995, the Chinese government has launched a representative law called Catalogue for the Guidance of Foreign Investment Industries to regulate foreign direct investment and guide China s foreign trade. This study reflects the impact of this regulation through the changes in the relationship between foreign direct investment and foreign trade before and after the regulation is promulgated. At the same time, consider the heterogeneity of regional development levels, this study classified China s 31 administrative regions into the coastal and inland areas to identify regional differences. It was found that in the coastal regions, there was no significant causal relationship between foreign direct investment and foreign trade before 1995. After 1995, the inflow of foreign direct investment promoted the development of foreign trade. In the inland regions, foreign direct investment before 1995 did not promote the development of foreign trade. After 1995, there was a reciprocal causation relationship between the two. This paper implies that such regions as the coastal regions in China with comparative advantages in the labour quality, infrastructure, and geographic location could promote the international trade through encouraging the FDI. Thus, according to the paper, it is desirable to preveniently promote the FDI in order to revitalize the economy through international trade.

중국 요녕성 FDI와 경제성장의 관계

조진정 ( Zhao Jinjing ),강승호 ( Kang Seungho ) 한국비교경제학회 2016 비교경제연구 Vol.23 No.2

본 연구는 중국의 다른 연해지역에 비해 대외부문의 영향력이 약하다고 생각되어 많이 다루어지지 않았던 요녕성의 대외부문(FDI와 무역)과 경제성장의 관계에 대해 분석하여 요녕성 발전의 특징을 살펴보고자 하였다. 2000년대 중반 이후 요녕성의 FDI의 규모가 지속적으로 커지면서 다른 연해지역의 외향형 경제처럼 FDI가 지역경제성장을 촉진시킬 것이라는 선행연구결과도 나타났다. 본연구가 1995~2014년 데이터를 이용하여 그랜저 인과관계 검정방법으로 분석한 결과 요녕성의 경우에는 오히려 지역경제성장이 FDI 유입을 촉진시키는 일방적 인과관계가 나타났다. 이는 요녕성 경제가 연해지역처럼 외향형 경제가 아니라 여전히 자본재를 수입해야하는 수입대체형 경제이기 때문인 것으로 해석된다. This study analyzes the relationship between foreign sector (FDI and trade) and economic growth in Liaoning. The purpose of this study was to examine the characteristics of Liaoning development. In the case of Liaoning, it is thought that the influence of the foreign sector is weaker than other coastal areas in China. Therefore, many studies have not been made. In the case of Liaoning Province, the size of FDI has continued to increase since the mid-2000s. As a result, previous research has shown that FDI, like the coastal area of the outward-oriented economy, will stimulate regional economic growth. This study was analyzed by Grandeur causality test method using 1995~2014 data. The results were in contrast to those of coastal areas. In the case of Liaoning Province, the unilateral causality that economic growth promotes FDI inflow has appeared. It is interpreted that the Liaoning economy is not an outward oriented economy like the coastal area, but an import substitute economy that still has to import capital goods.

Examining the Economic Effects of Logistics Infrastructure: The Case of New Western Land-Sea Corridor in China

Xiangwei XIE(Xiangwei XIE),Jie PAN(Jie PAN),Jinjing ZHAO(Jinjing ZHAO),Miao SU(Miao SU) 한국유통과학회 2023 유통과학연구 Vol.21 No.8

Purpose: To examine the economic effects of logistics under the influence of policies. Research design, data and methodology: This study is the first to use the panel data of 31 provinces and municipalities in China from 2012 to 2021, and use the OLS and DID models to evaluate whether the New Western Land-Sea Corridor (NWLSC) has promoted the economic development of the regions along the corridor. Results: The NWLSC has stimulated local economic growth by promoting the development of transportation, postal, and telecommunications industries along the corridor. Further, considering the locational differences of the regions along the NWLSC, we examined the differences in economic effects between regions along the Yangtze River and those not along the Yangtze River under the background of NWLSC implementation. We found that waterway and airway transport located along the NWLSC and in the Yangtze River Economic Belt (YREB) region can significantly promote economic growth. However, for regions located along the NWLSC but not in the YREB region, the impact of roadway, railway, and airway transport in these regions on economic growth is more significant. Conclusions: This study has important reference value on how to use logistics to promote the economic and cross-border commerce development of landlocked countries or regions.

Color-Image Guided Depth Map Super-Resolution Based on Iterative Depth Feature Enhancement

( Lijun Zhao ),( Ke Wang ),( Jinjing Zhang ),( Jialong Zhang ),( Anhong Wang ) 한국인터넷정보학회 2023 KSII Transactions on Internet and Information Syst Vol.17 No.8

With the rapid development of deep learning, Depth Map Super-Resolution (DMSR) method has achieved more advanced performances. However, when the upsampling rate is very large, it is difficult to capture the structural consistency between color features and depth features by these DMSR methods. Therefore, we propose a color-image guided DMSR method based on iterative depth feature enhancement. Considering the feature difference between high-quality color features and low-quality depth features, we propose to decompose the depth features into High-Frequency (HF) and Low-Frequency (LF) components. Due to structural homogeneity of depth HF components and HF color features, only HF color features are used to enhance the depth HF features without using the LF color features. Before the HF and LF depth feature decomposition, the LF component of the previous depth decomposition and the updated HF component are combined together. After decomposing and reorganizing recursively-updated features, we combine all the depth LF features with the final updated depth HF features to obtain the enhanced-depth features. Next, the enhanced-depth features are input into the multi-stage depth map fusion reconstruction block, in which the cross enhancement module is introduced into the reconstruction block to fully mine the spatial correlation of depth map by interleaving various features between different convolution groups. Experimental results can show that the two objective assessments of root mean square error and mean absolute deviation of the proposed method are superior to those of many latest DMSR methods.

Diblock copolymer worms stabilized pH-responsive Pickering emulsions: An efficient and recyclable platform for Claisen-Schmidt condensation reaction

Zhe Xiang,Xi Zhao,Guoxiang Wang,Chenze Qi,Sujing Zhou,Jinjing Li,Yong Gao 한국공업화학회 2023 Journal of Industrial and Engineering Chemistry Vol.117 No.-

Pickering emulsions were promising platforms for the heterogeneous reactions due to both their largeinterfacial areas and high stability, whereas both the product separation and the emulsifier recoveryvia simple and efficient strategies for remain a concern. In this study, we constructed an efficient andrecyclable platform for interfacial catalytic reaction adopting pH-responsive n-decane-in-waterPickering emulsions. Pickering emulsions were prepared employing core cross-linked PEO45-PGMA74(CCE45G74) diblock copolymer worms as Pickering emulsifiers. CCE45G74 diblock copolymer worms wereprepared via the combination of photo-initiated polymerization induced self-assembly strategy and thecore covalent cross-linking with ethylenediamine. The prepared n-decane-in-water Pickering emulsionsshowed a high stability during the storage at the room temperature, whereas a rapid demulsification tookplace at a lower pH, such as 2.5. Alkali-catalyzed Claisen-Schmidt condensation reactions between benzaldehydeand acetone were conducted in n-decane-in-water Pickering emulsions at 30 C. The yield ofdibenzylidene acetone could reach 99% after 12 h of reaction. The reaction efficiency was far higher thanthat at the plain n-decane-water (30%). This catalytic platform could be repeatedly used for three cycles

Implicit Detection of Hidden Processes with a Local-Booted Virtual Machine

Yan Wen,Huaimin Wang,Jinjing Zhao 보안공학연구지원센터 2008 International Journal of Security and Its Applicat Vol.2 No.4

Currently stealth malware is becoming a major threat to the PC computers. Process hiding is the technique commonly used by stealth malware to evade detection by anti-malware scanners. On the defensive side, previous host-based approaches will be defeated once the privileged stealth malware controls a lower reach of the system. The virtual machine (VM) based solutions gain tamper resistance at the cost of losing the OS-level process view. Moreover, existing VM-based approaches cannot introspect the preinstalled OS which is just the protecting concern for PC users. In this paper, we present a new VM-based approach called Libra which accurately reproduces the software environment of the underlying preinstalled OS within the Libra VM and provides an OS-level semantic view of the processes. With our new local-booting technology, Libra VM just boots from the underlying host OS but not a newly installed OS image. Thus, Libra provides a way to detect the existing process-hiding stealth malware in the host OS. In addition, instead of depending on the guest information which is subvertable to the privileged guest malware, Libra adopts a unique technique to implicitly construct the Trusted View of Process List (TVPL) from within the virtualized hardware layer. Our evaluation results with real-world hiding-process rootkits, which are widely used by stealth malware, demonstrate its practicality and effectiveness.