In Search of New Sources of Growth: What China Should Do Next?

The 28th Annual Conference of the Chinese Economics Society Australia (CESA)

James Cook University, Cairns Campus

Cairns, Australia, 17-19 July 2016

Organized by:  Chinese Economics Society Australia  College of Business Law and Governance, Division of Tropical Environments and Societies, James Cook University  The Cairns Institute, James Cook University

With support from:  Advance Cairns  Australian Trade Commission (Austrade)  Cairns Chamber of Commerce  China Update, Australian National University  The Education Office of Chinese Embassy in Australia  Tourism Tropical North Queensland

Local Organising Committee:

Dr Hongbo Liu, James Cook University

Prof Stewart Lockie, James Cook University

Prof David Low, James Cook University

Ms Janie Edwards, James Cook University

Ms Jennifer McHugh, James Cook University

Prof Philip Pearce, James Cook University

Prof Natalie Stoeckl, James Cook University

Dr Sizhong Sun, James Cook University

Prof Zhangyue Zhou, James Cook University

Contents Introduction of CESA ...... 5 Introduction of College of Business, Law and Governance ...... 6 Introduction of the Cairns Institute ...... 7 Information for Participants ...... 8 Conference Program Outline ...... 9 Keynote Speakers ...... 12 Tourism Forum Speakers ...... 12 Policy Forum Speakers ...... 13 Concurrent Sessions ...... 14 List of Conference Participants ...... 25

Introduction of CESA The Chinese Economics Society Australia (CESA) is a non-profit and non-partisan organization, which aims at promoting research and exchange activities related to the Chinese economy. More specifically, its objectives are to:

 Encourage and stimulate constructive inquiries, exchange and discussion on China’s growth and development;  Promote and disseminate research work related to China’s economy and business development; and  Provide a venue for post-graduate students to present and discuss their work.

CESA strives to become a leading research network of the Chinese economy in the Asia Pacific region. It maintains close relationships with other professional associations that have similar objectives.

The Society was initiated as the Association for Chinese Economic Studies, Australia (ACESA) in 1987 at the Australian National University in Canberra under the leadership of Dr Yongzheng Yang and Dr Shujuan Lin, with the support of enthusiastic scholars specialising in the Chinese economy including Chunlai Chen, Enjiang Cheng, Ross Garnaut, Jane Golley, Yiping Huang, Ligang Song, Guanghua Wan, Mei Wen, Harry Wu, Yanrui Wu, Xiaoguang Zhang and Zhangyue Zhou.

The Society is run by the Executive Committee within the general policy guidelines set by the Council of Management and the Constitution. The current Executive Committee members are: Dr Sizhong Sun, President (James Cook University); Dr Annie Wei, Secretary (Australian National University) and Dr James Cheong, Treasurer (Hang Seng Management College).

The Society is physically hosted at:

China Economy Program, Crawford School of Public Policy, Australian National University JG Crawford Bldg, Acton ACT 2601, Australia

CESA’s annual conference rotates amongst its member universities in Australia, attracting delegates from around the world. A number of conference proceedings and publications have been generated from contributions to the conferences.

CESA maintains an official website (http://www.ces-aus.org/) and an emailing list ([email protected]), which are available for use by all members.

Introduction of College of Business, Law and Governance The College of Business, Law and Governance (CBLG) is part of the Division of Tropical Environments and Societies and delivers a range of courses in Cairns, Singapore, Townsville and Brisbane*. It is led by the Dean, Professor David Low, and promotes, fosters, supports and administers quality teaching and research across four key areas:

 Law  Business  Information Technology  Conflict Management and Resolution

Formed in 2014 to provide new opportunities and collaborations for both education and research, a primary focus of the College is ethics, sustainability and governance, as well as an understanding of complex business systems. The courses offered by the College equip future leaders with life-long skills that have practical applications in the workplace, and are designed with a variety of options to facilitate lifestyle and work commitments, whether it be studying online or on campus, or on a full or part time basis.

The College’s multi-campus locations and world-class academics bring an international perspective to its teaching and research. Leading-edge postgraduate study areas reflect global industry needs and include international business, sustainable practice, creativity and innovation, political science, and information technology.

More details of CBLG can be found at: https://www.jcu.edu.au/college-of-business-law-and- governance.

Introduction of the Cairns Institute Around half of the world’s population—some three billion people—and 80 per cent of the planet’s animal and plant species live in the tropics. From economic and educational deprivation to disease, loss of culture and the impacts of climate change, the social, economic and environmental challenges facing the tropical zones of northern Australia and the world are immense.

The Cairns Institute’s location in tropical North Queensland and close proximity to neighbouring countries in the Pacific and Southeast Asia places it at the epicentre of economic, environmental and cultural change. In this most dynamic of regions, the Institute is committed to understanding and informing the critical processes of transformation that will shape communities’ and environments’ future wellbeing.

Bringing together the expertise and intellectual resources of more than 20 disciplines in the humanities and social sciences, The Cairns Institute is a uniquely robust and vibrant hub of research, capacity building and public debate in the tropics, for the tropics.

The Cairns Institute welcomes national and international scholars, policy specialists, consultants and trainees, providing facilities and infrastructure for excellence and innovation.

The Institute offers:

 Pure and applied research  Consulting and contract research  Research training  Professional development  Conferences and seminars  Education and scholarship

More details of the Cairns Institute can be found at: http://www.cairnsinstitute.jcu.edu.au/.

Information for Participants Cairns Taxi:

http://www.cairnstaxis.com.au/

Phone: 131008

Policelink:

https://www.police.qld.gov.au/programs/policelink/

If a crime is happening, call Triple Zero (000)

If not, you can call Policelink at 131 444

Parking:

Free parking is available at the Cairns Institute:

Tourism:

Tourism Tropical North Queensland: http://www.ttnq.org.au/

Conference Program Outline 17-19 July 2016, James Cook University, Cairns, Australia 17 July (Sunday) 16:00 - 17:00 Conference Registration Rydges Tradewinds Cairns 17:00 - 18:00 Welcome Reception Rydges Tradewinds Cairns 18 July (Monday) 08:00 - 08:30 Conference Registration Foyer, The Cairns Institute 08:30 - 09:10 Opening Ceremony Lecture Theatre, The Cairns Institute Welcome by Traditional owner Robyn McGuiggan, Deputy Vice Chancellor and Professor, Division of Global Strategy and Engagement, James Cook University The Honourable Curtis Pitt MP, Treasurer, Queensland Government Xu Xiao, Minister Counsellor, Education Office of Chinese Embassy in Australia Sizhong Sun, President of Chinese Economics Society Australia Chair: David Low, Dean and Professor, College of Business, Law and Governance, Division of Tropical Environments and Societies, James Cook University 09:10 - 10:00 Keynote Address 1 Lecture Theatre, The Cairns Institute Luigi Pistaferri, Professor of Economics, Stanford University Consumption Inequality Introduced by: Sizhong Sun, President of CESA 10:00 - 10:15 Photo Session The Cairns Institute 10:15 - 10:30 Morning Tea Foyer, The Cairns Institute 10:30 - 12:00 Concurrent Sessions Concurrent session 1 D3:063 Concurrent session 2 D3:059 Concurrent session 3 D3:144 Concurrent session 4 D3:149 12:00 - 13:00 Networking Lunch Foyer, The Cairns Institute 13:00 - 14:30 Concurrent Sessions Concurrent session 5 D3:063 Concurrent session 6 D3:059 Concurrent session 7 D3:144 Concurrent session 8 D3:149 14:30 - 14:45 Afternoon Tea Foyer, The Cairns Institute 14:45 - 16:15 Concurrent Sessions Concurrent session 9 D3:063 Concurrent session 10 D3:059 Concurrent session 11 D3:144 Concurrent session 12 D3:149 16:15 - 16:25 CESA Annual General Meeting Lecture Theatre, The Cairns Institute Election of the CESA Executive Committee Announcement of the 29th CESA Annual Conference

16:25 - 17:15 Keynote Address 2 Lecture Theatre Wing Thye Woo, Professor of Economics, University of California, Davis The Necessary Demand-Side Supplement to China’s Supply-Side Structural Reform: Termination of the Soft Budget Constraint Introduced by: Yanrui Wu, Professor, University of Western Australia 18:30 - 20:30 Conference Dinner Rydges Tradewinds Cairns In-dinner speech: Dr Bing Zhao, Managing Director of BAZO Capital Advisor Ltd. Announcement of best paper awards for PhD students: Xu Xiao, Minister Counsellor, Education Office of Chinese Embassy in Australia Master of Ceremony: TBC 19 July (Tuesday) 09:00 - 09:50 Keynote Address 3 Lecture Theatre, The Cairns Institute Hanming Fang, Professor of Economics, University of Pennsylvania Political Factions, Local Accountability and Economic Performance: Evidence from Fujian Province Introduced by: Hongbo Liu, Senior Lecturer, College of Business, Law and Governance, Division of Tropical Environments and Societies, James Cook University 09:50 - 10:00 CAER Information Session Lecture Theatre, The Cairns Institute Baozhong Su, Associate Professor, Editorial Coordinator, China Agricultural Economic Review 10:00 - 10:15 Morning Tea Foyer, The Cairns Institute 10:15 - 11:45 Concurrent Sessions Concurrent session 13 D3:063 Concurrent session 14 D3:059 Concurrent session 15 D3:144 Concurrent session 16 D3:149 11:45 - 13:00 Networking Lunch Foyer, The Cairns Institute 13:00 - 14:30 Concurrent Sessions Concurrent session 17 D3:063 Concurrent session 18 D3:059 Concurrent session 19 D3:144 Concurrent session 20 D3:149 13:00 - 15:00 Tourism Forum Lecture Theatre, The Cairns Institute

Speakers: George Y Chen, Principal Analyst and Manager of National Tourism Forecasts, Tourism Research Australia, Austrade Songshan (Sam) Huang, Associate Professor in Tourism Management, the University of South Australia Philip L. Pearce, Foundation Professor of Tourism and Distinguished Professor, James Cook University Chair: Philip L. Pearce, Foundation Professor of Tourism and Distinguished Professor, JCU 15:00 - 15:30 Afternoon Tea Foyer, The Cairns Institute

15:30 - 17:30 Policy Forum Lecture Theatre, The Cairns Institute Speakers: Fuqian Fang, Professor of Economics, Renmin University of China Iain Gordon, Deputy Vice-Chancellor and Professor, Division of Tropical Environment and Societies, James Cook University Steven Kates, Associate Professor of Economics, RMIT University Chris Legg, Chief Adviser in the Macroeconomic Group, The Treasury Jammie Penm, Chief Commodity Analyst and Assistant Secretary, Agricultural Commodities and Trade Branch, Australian Bureau of Agricultural and Resource Economics and Sciences Wing Thye Woo, Professor of Economics, UC Davis Chair: Iain Gordon, DVC and Professor, DTES, JCU 17:30 - 17:35 Closing Session Lecture Theatre, The Cairns Institute

Keynote Speakers

Hanming Fang Luigi Pistaferri Wing Thye Woo

Hanming Fang is Class of 1965 Term Luigi Pistaferri is a Professor of Economics Wing Thye Woo is Professor at the Professor of Economics at the University of at Stanford University, a research fellow of University of California at Davis. He also Pennsylvania and a Research Associate at NBER, CEPR and IZA, the "Ralph Landau" plays a key role in several other institutions the National Bureau of Economic Research Senior Fellow at SIEPR, and one of the co- such as the Jeffrey Cheah Institute on (NBER) where he is currently also the Acting editors of the American Economic Review. Southeast Asia in Kuala Lumpur, the East Director of its Chinese Economy Working His papers are on the intersection between Asian Program at Columbia University. His Group. labour economics and macroeconomics. current research focuses on

Pistaferri holds a PhD in Economics from macroeconomic management of open Holding a PhD in Economics from the University of Pennsylvania in 2000, University College, London, and a Doctorate economies and on China’s growth Professor Fang is an applied in Economic Sciences from IUN in Naples challenges. Prof Woo has also served many microeconomist with broad theoretical and (Italy), where he was born in 1968. Pistaferri other key roles at various national and empirical interests focusing on public joined Stanford University in 1999 after international bodies such as special advisors economics. He has served as associate finishing his PhD and has been a member of to the U.S. Treasury, the United Nations, the editor or co-editor for numerous journals in the faculty ever since, with the exception of Prime Minister of Malaysia. Currently he is economics, and currently serves as a co- one year sabbatical spent at EIEF in Rome. the President of the US Chinese Economists editor of the International Economic Society. Review.

Tourism Forum Speakers

George Y Chen Songshan (Sam) Huang Philip L. Pearce

Dr George Y Chen is Principal Analyst and Dr Songshan (Sam) Huang is Associate Professor Philip L. Pearce is the Foundation Manager of National Tourism Forecasts, Professor in Tourism Management at the Professor of Tourism and a Distinguished Tourism Research Australia (TRA), University of South Australia. His research Professor at James Cook University. His Austrade. His team produces forecasts on focuses on tourism and hospitality and research interests are new tourism markets Australia’s inbound, outbound and China-Australia business and trade and the behaviour of tourists. He has spent domestic tourism. Prior to the current role, relations, including tourist behaviour, considerable time in Asia and especially he worked as an economist and policy destination marketing, tour guiding and China as a Visiting Professor at Zhejiang adviser across various Australian interpretation, and Chinese outbound University in Hangzhou. He has completed Government departments including the Department of Industry and the Treasury. tourism to Australia. He has recently numerous studies on Chinese outbound Before coming to Australia, he was a completed a book on Tourism in China tourists and has recently finished co-editing research economist at the Chinese Ministry (2015) with Channel View Press in Bristol, a book The World Meets Asian Tourists. of Foreign Trade and Economic UK. Cooperation in Beijing.

Policy Forum Speakers

Fuqian Fang Iain Gordon Chris Legg

Fuqian Fang is Professor of Economics at Iain Gordon is Professor and the Deputy Chris Legg is Treasury’s Chief Adviser the School of Economics, Renmin University Vice-Chancellor, Division of Tropical responsible for monitoring developments in of China. Currently he is the Vice President Environments and Societies at James Cook China and their implications for Australia. of the China Research Association of University (JCU). He has a genuine passion He represents Australia, New Zealand, Foreign Economic Theories, and commitment for sustainable Singapore and Vietnam on the Board of development. Prior to JCU, he led the Asian Infrastructure Investment Bank. He President of the Beijing Research James Hutton Institute (Scotland), focusing has had extensive experience in the Association of Foreign Economic Theories. on evidence based solutions for the use of Treasury and at ONA, the World Bank and His main research interest is on land for agriculture whilst maintaining the IMF on international economics, foreign macroeconomic theory and policy. He is the natural resources and ecosystems. He investment, the financial system, national Chief Editor of Economic Theory and worked with CSIRO from 2003 – 2010, security, and infrastructure. In 2014, the DC Business Management. where he led the Davies Laboratory and based Woodrow Wilson Center for Public helped establish the Australian Tropical Scholars published his book, International Science Innovation Precinct (ATSIP) at JCU Cooperation in a Time of Transition: The in Townsville. Professor Gordon has also IMF, G20 and the Global Financial Crisis. been working on issues concerning sustainable development in China.

Steven Kates Jammie Penm Wing Thye Woo

Steven Kates is Associate Professor of Jammie Penm is Chief Commodity Analyst Wing Thye Woo is Professor at the Economics at RMIT University in and Assistant Secretary, Agricultural University of California at Davis. He also Melbourne. Most of his career was, Commodities and Trade Branch at plays a key role in several other institutions however, spent as the Chief Economist of Australian Bureau of Agricultural and such as the Jeffrey Cheah Institute on Australia’s national employers’ association. Resource Economics and Sciences Southeast Asia in Kuala Lumpur, the East His major interest is in the classical theory (ABARES). His professional expertise and Asian Program at Columbia University. His of the cycle. His Free Market Economics is achievements revolve around commodity current research focuses on John Stuart Mill’s 1848 Principles of Political analysis and economic research important macroeconomic management of open Economy re-written for the twenty-first to Australia’s primary industries. He has economies and on China’s growth century. been on numerous trips to China over the challenges. Prof Woo has also served many past years, contributing to the conclusion of other key roles at various national and the Australia-China Free Trade Agreement. international bodies such as special Before joining the ABARES, Jammie worked advisors to the U.S. Treasury, the United at former Industries Assistance Nations, the Prime Minister of Malaysia. Commission. He has a PhD in econometrics Currently he is the President of the US from the Australian National University. Chinese Economists Society.

Concurrent Sessions 15 minutes for each speaker followed by 5 minutes’ discussion, with open discussion at the end of the session. In each session, the next speaker discusses the paper of current speaker, with the first speaker discussing the last paper.

Session Number 1: Macroeconomy Venue: Room D3:063 Time: 10:30 - 12:00 Monday 18 July Chair: Xunpeng Shi, National University of Singapore

A Rebalancing Chinese Economy: Challenges and International Implications Guonan Ma, Bruegel Ivan Roberts, Reserve Bank of Australia Gerard Kelly, Reserve Bank of Australia Discussant: James Laurenceson, University of Technology Sydney

China’s Debt Challenge: Stylised Facts, Drivers and Policy Implications Guonan Ma, Bruegel James Laurenceson, University of Technology Sydney Discussant: Yujiang Bi, Shanghai Lixin University of Commerce

US Monetary Policy Shocks and the Chinese Economy: A GVAR Approach Yujiang Bi, Shanghai Lixin University of Commerce Sajid Anwar, University of Sunshine Coast Discussant: Deyong Zhang, Chinese Academy of Social Sciences

Evaluation of Fiscal Management Reform in China since 1994 Deyong Zhang, Chinese Academy of Social Sciences Discussant: Ivan Roberts, Reserve Bank of Australia

Session Number 2: Firm Behaviours Venue: Room D3:059 Time: 10:30 - 12:00 Monday 18 July Chair: Guiying Laura Wu, Nanyang Technological University

Outward FDI and Domestic Input Distortions: Evidence from Chinese Firms Cheng Chen, University of Hong Kong Wei Tian, University of International Business and Economics Miaojie Yu, Peking University Discussant: Junjie Xia, University of Southern California

Trade Credit, Financing Structure and Growth – Theory and Evidence Junjie Xia, University of Southern California Discussant: Qingyuan Du, Monash University

Importer Heterogeneity and Exchange Rate Pass-through Mi Dai, Beijing Normal University Qingyuan Du, Monash University Yaqi Wang, Central University of Finance and Economics

Jianwei Xu, Beijing Normal University Discussant: Liangfeng Hao, Southeast University

Product Innovation, Heterogeneous Productivity and the Dual Margins of Chinese Exporting Firms Liangfeng Hao, Southeast University Bin Qiu, Southeast University Xu Chen, Southeast University Shaoqin Sun, Nanjing University of Information Science and Technology Discussant: Miaojie Yu, Peking University

Session Number 3: Productivity, R&D and Innovation Venue: Room D3:144 Time: 10:30 - 12:00 Monday 18 July Chair: Dahai Fu, Central University of Finance and Economics

Productivity, Efficiency and Technical Change Directions of China’s Grain Production: Application of the Bias-corrected Malmquist Indices Tian-xiang Li, Nanjing Agricultural University Tomas Balezentis, Lithuanian Institute of Agrarian Economics Li-juan Cao, Nanjing Agricultural University Jing Zhu, Nanjing Agricultural University Wu-sheng Yu, University of Copenhagen Discussant: Jian Chen, Southeast University

Import Technological Spillover, Correlation Effect and its Influence on Improving China Industrial Productivity - An Analysis Based on Structural Decomposition Jian Chen, Southeast University Discussant: Xing Shi, University of Western Australia

Evolution of Product-embodied R&D in China Xing Shi, University of Western Australia Yanrui Wu, University of Western Australia Discussant: Zhifeng Wang, Nanyang Technological University

The Evolution and Distribution of Productivity of Chinese Manufacturing Guiying Laura Wu, Nanyang Technological University Qu Feng, Nanyang Technological University Zhifeng Wang, Nanyang Technological University Discussant: Tian-xiang Li, Nanjing Agricultural University

Session Number 4: Agricultural Economics Venue: Room D3:149 Time: 10:30 - 12:00 Monday 18 July Chair: Komla Tsey, James Cook University

The Spatial and Temporal Impact of Climate Factors on Oilseed Rape Yield in China Yaqin He, Huazhong Agricultural University Revell J.Brian, Harper Adams University Bofeng Leng, Huazhong Agricultural University

Zhongchao Feng, Huazhong Agricultural University Discussant: Hua Lu, Nanjing Agricultural University

Land Fragmentation, Plot Size and Efficiency of Agricultural Production — Based on an empirical analysis of survey data in Jiangsu Province, China Hua Lu, Nanjing Agricultural University Hao Hu, Nanjing Agricultural University Discussant: Ying Wang, Nanjing Agricultural University

Does the Development of Outsourcing Market Promote the Farmer's Consumption for Agricultural Outsourcing Service? Ying Wang, Nanjing Agricultural University Jin-tao Zhan, Nanjing Agricultural University Discussant: Yaqin He, Huazhong Agricultural University

Session Number 5: Economic Growth and Development Venue: D3:063 Time: 13:00 - 14:30 Monday 18 July Chair: Taha Chaiechi, James Cook University

Avoiding Development Traps Hao Ren, Tsinghua University Discussant: Jiawei Mo, University of Hong Kong

From Manufacturing to Land Financing: China’s New Growth Model? Jiawei Mo, University of Hong Kong Shiyuan Chen, University of Hong Kong Discussant: Meng Qin, Southeast University

Impact of Urban Sprawl on Regional Economic Growth: Evidence based on DMSP Night-time Light Data Meng Qin, Southeast University Xiuyan Liu, Southeast University Discussant: Zongyue He, Beijing Normal University

China's Economic Development and Its Stage Characteristics Zongyue He, Beijing Normal University Xuguang Song, Beijing Normal University Discussant: Hao Ren, Tsinghua University

Session Number 6: Productivity, R&D and Innovation Venue: D3:059 Time: 13:00 - 14:30 Monday 18 July Chair: Maciej Kotowski, Harvard University

Trade and R&D activities in China Yixiao Zhou, Curtin University Ligang Song, Australian National University Discussant: Yu Qin, National University of Singapore

International Technology Transfer and Domestic Innovation: Evidence from the High-Speed Rail Sector in China Yatang Lin, London School of Economics Yu Qin, National University of Singapore Zhuan Xie, Peking University Discussant: Guiying Laura Wu, Nanyang Technological University

Estimating Productivity of Public Investment Guiying Laura Wu, Nanyang Technological University Qu Feng, Nanyang Technological University Zhifeng Wang, Nanyang Technological University Discussant: Yanrui Wu, University of Western Australia

Does University-industry Collaboration Improve Chinese Firms’ Innovation Efficiency? Xing Shi, University of Western Australia Yanrui Wu, University of Western Australia Dahai Fu, Central University of Finance and Economics Discussant: Yixiao Zhou, Curtin University

Session Number 7: Regional Economics Venue: D3: 144 Time: 13:00 - 14:30 Monday 18 July Chair: Ivan Roberts, Reserve Bank of Australia

Does Export Diversification Matter for China's Regional Growth? Dahai Fu, Central University of Finance and Economics Yanrui Wu, University of Western Australia Ying Zhang, Chinese Academy of Social Science Discussant: Rui-cong Sang, Shanghai Lixin University of Commerce

Regional Policy and Industrial Relocation in China: A Panel Data Analysis Rui-cong Sang, Shanghai Lixin University of Commerce Sajid Anwar, University of Sunshine Coast W. Robert J. Alexander, University of Sunshine Coast Discussant: Nicolaas Groenewold, University or Western Australia

The Effects within and between Regions of Output Shocks in China Anping Chen, Jinan University Nicolaas Groenewold, University or Western Australia Discussant: Jihong Li, China University of Geosciences

Research on Coupling Coordination between Urbanization and Economic Development in Shandong Province Jihong Li, China University of Geosciences Hongyun Ma, China University of Geosciences Qi Huang, China University of Geosciences Discussant: Dahai Fu, Central University of Finance and Economics

Session Number 8: Urbanization and Real Estate Venue: D3:149 Time: 13:00 - 14:30 Monday 18 July Chair: Lilai Xu, RMIT University

The Determinants of Chinese Outward Real Estate Investment Jingjing Zhang, Nanjing Audit University Chyi Lin Lee, Western Sydney University Discussant: Andy Wui Wing Cheng, Hang Seng Management College

Housing Price and Crime: Evidence from China Andy Wui Wing Cheng, Hang Seng Management College Tsun Se Cheong, Hang Seng Management College Victor Li, Hang Seng Management College Discussant: Caixia Liu, Jinan University

The Determinants of Tenure Choice in Urban China Caixia Liu, Jinan University Xian Zheng, Jinan University Eddie C.M. Hui, Hong Kong Polytechnic University Discussant: Songlin Li, Southeast University

The Path of Urbanization in China: Monocentric Mega-city or Polycentric City Cluster? Songlin Li, Southeast University Xiuyan Liu, Southeast University Discussant: Jingjing Zhang, Nanjing Audit University

Session Number 9: Banking and Finance Venue: D3:063 Time: 14:45 - 16:15 Monday 18 July Chair: Shiguang Ma, University of Wollongong

IPO Underpricing in Hong Kong: New Evidence Lee Wai Choi, Hang Seng Management College Discussant: Yin Wei, Southeast University

Limited Loan Rate Differentiation and the Determination of Loan Terms in the Chinese Commercial Credit Market Kent Matthews, Cardiff University Yin Wei, Southeast University Discussant: Erwei Xiang, Edith Cowan University

Lending to Private Firms: Evidence from China on the Role of Firm Openness and Bribery Wenjuan Ruan, Murdoch University Erwei Xiang, Edith Cowan University Shiguang Ma, University of Wollongong Discussant: Lilai Xu, RMIT University

Enterprise Risk Management for FDI in China: Scope and Framework KB Oh, La Trobe University

Lilai Xu, RMIT University Nga Le Thu Pham, Hanoi University J. Sturdy, La Trobe University J. Wang, Beijing Information Science Technology University Discussant: Lee Wai Choi, Hang Seng Management College

Session Number 10: Consumption Venue: D3:059 Time: 14:45 - 16:15 Monday 18 July Chair: Tracey Mahony, James Cook University

Research on the Impact of Dairy Products Imports on Dairy Industry of China - A Case Study of Dairy Import from Australia Yan-jiao Wei, Nanjing Agricultural University Discussant: Meen Chee Hong, James Cook University

The Determinants of Chinese Muslims Consumption on Halal Personal Care Products Meen Chee Hong, James Cook University Sizhong Sun, James Cook University Rabiul Beg, James Cook University Zhou Zhang Yue, James Cook University Discussant: Xin Gu, Southeast University

Understanding Consumption Patterns: A Study of China’s Urban Residents by Income Levels Xin Gu, Southeast University Discussant: Teddy Wen, James Cook University

Astronomy Tourism in China: Exploring an Emerging Market Teddy Wen, James Cook University Discussant: Yan-jiao Wei, Nanjing Agricultural University

Session Number 11: Environmental Economics Venue: D3:144 Time: 14:45 - 16:15 Monday 18 July Chair: Diane Jarvis, James Cook University

Decoupling Economic Growth from Air Pollution in Chinese Cities Xiumei Guo, Curtin University Dora Marinova, Curtin University Discussant: Ya Wu, Jinan University

Means of Transformation to a Low-carbon Economy in Guangdong Province, China in Terms of Domestic Demand, Foreign Trade, and Industrial Upgrading Ya Wu, Jinan University Discussant: Yuk-shing Cheng, Hong Kong Baptist University

Property Rights Reform in China’s Forestland–management Incentives and Ecological Protection Yuk-shing Cheng, Hong Kong Baptist University Discussant: Huaqing Wu, Hefei University of Technology

Are the Central Government’s Environmental Policies Effective? An Efficiency Analyses for China’s Provincial Production and Treatment Processes Qiong Xia, Hefei University of Technology Ming Lia, Hefei University of Technology Ya Chen, Hefei University of Technology Huaqing Wu, Hefei University of Technology Discussant: Xiumei Guo, Curtin University

Session Number 12: Industrial Economy Venue: D3:149 Time: 14:45 - 16:15 Monday 18 July Chair: Hongbo Liu, James Cook University

International Oil Price Uncertainty and Corporate Investment: Evidence from China’s Emerging Transition Economy Yong Wang, China University of Petroleum Erwei Xiang, Edith Cowan University Wenjuan Ruan, Murdoch University Discussant: Ruohan Zhang, Jinan University

Financial Inclusion and the Formation of Entrepreneurs: Evidence from China Zhaobin Fan, Jinan University Ruohan Zhang, Jinan University Discussant: Chunlai Chen, Australian National University

The Impact of Outward Foreign Direct Investment on China’s Regional Economic Growth Chunlai Chen, Australian National University Discussant: Wenjuan Ruan, Murdoch University

Session Number 13: Foreign Direct Investment Venue: D3:063 Time: 10:15 - 11:45 Tuesday 19 July Chair: Josephine Pryce, James Cook University

Cross-Country Dissemination of Culture via FDI: Micro Evidence from China Faqin Lin, Central University of Finance and Economics Discussant: Chunlai Chen, Australian National University

The Impact of Coastal Foreign Direct Investment on China’s Inland Urbanisation Chunlai Chen, Australian National University Yan Wu, Beijing Normal University Discussant: Tsun Se Cheong, Hang Seng Management College

Evolutionary Trend of Foreign Investment in China: A Combined Decomposition and Transitional Dynamics Approach Tsun Se Cheong, Hang Seng Management College Andy Wui Wing Cheng, Hang Seng Management College Jing Li, Hang Seng Management College Discussant: Haichun Ye, Shanghai University of Finance and Economics

FDI, Trade Credit, and Transmission of Global Liquidity Shocks: Evidence from Chinese Manufacturing Firms Shu Lin, Fudan University Haichun Ye, Shanghai University of Finance and Economics Discussant: Faqin Lin, Central University of Finance and Economics

Session Number 14: Institution and Energy Venue: D3:059 Time: 10:15 - 11:45 Tuesday 19 July Chair: James Laurenceson, University of Technology Sydney

Spatial Impact of Economic Structure Reform on China's Energy Consumption — Perspective of Satellite Lighting Data from Prefecture-level City Nan Zhao, Beijing Normal University Xuguang Song, Beijing Normal University Tianyang Ji, Beijing Normal University Discussant: Xunpeng Shi, National University of Singapore

Uncertainties in China’s Gas Market and Their Impact Xunpeng Shi, National University of Singapore Hari MP, National University of Singapore Jacqueline Tao, National University of Singapore Discussant: Steven Kates, RMIT University

Political Economy in Crisis: Were the Classical Economists Right After All? Steven Kates, RMIT University Discussant: Erwei Xiang, Edith Cowan University

Institutional Background, Corporate Social Responsibility and Tax Avoidance Yuanhui Li, Beijing Jiaotong University Qingqing Wang, Beijing Jiaotong University Erwei Xiang, Edith Cowan University Discussant: Nan Zhao, Beijing Normal University

Session Number 15: International Trade Venue: D3-144 Time: 10:15 - 11:45 Tuesday 19 July Chair: Miaojie Yu, Peking University

Export Competitiveness of Agricultural Industry from Emerging Market: A Cluster Analysis based on Genetic Algorithm in Complex Network Da Huo, Central University of Finance and Economics Haibo Wang, Texas A&M International University Discussant: Yanyan Xiong, Southeast University

Factor Endowments, Trade and Income Inequality: Evidence from China Yanyan Xiong, Southeast University Discussant: Wenxiao Wang, University of Adelaide

Export, Quality Specialization and Wage Gap Yihong Tang, Central University of Finance and Economics Wenxiao Wang, University of Adelaide Discussant: Hao Xiao, Hunan University

Trade Creation Effect and Trade Diversion Effect in Global Value Chain: An Application in Sino-Korean FTA Hao Xiao, Hunan University Cong Yan, Hunan University Huimin Bi, Hunan University Jue Chen, Hunan University Discussant: Da Huo, Central University of Finance and Economics

Session Number 16: Labour Economics Venue: D3:149 Time: 10:15 - 11:45 Tuesday 19 July Chair: Sajid Anwar, University of Sunshine Coast

New Cooperative Medical Scheme and Self-Employment in rural China Gatwaza H. Thierry, China Agricultural University Baozhong Su, China Agricultural University Discussant: Zhaobin Fan, Jinan University

International Migration, Human Capital Composition and the Middle-Income Trap Zhaobin Fan, Jinan University Discussant: Jing Xiang, Chinese Academy of Social Science

China’s Rural Population Dynamics and Urbanization Estimate Jing Xiang, Chinese Academy of Social Science Discussant: Lin Pan, Jinan University

International Migration and Knowledge Diffusion: Evidence from OECD Countries Zhaobin Fan, Jinan University Lin Pan, Jinan University Chengyaohang Li, Jinan University Discussant: Baozhong Su, China Agricultural University

Session Number 17: Public Economics Venue: D3:063 Time: 13:00 - 14:30 Tuesday 19 July Chair: James Cheong, Hang Seng Management College

Structural Change with Public Educational Expenditure: Evidence from China Xun Zhang, Beijing Normal University Discussant: Le Ma, The University of Sydney

The Effectiveness of Innovation-Oriented Government Policy: The Case of China Demetris Christodoulou, The University of Sydney Baruch Lev, New York University

Le Ma, The University of Sydney Discussant: Xiyang Zheng, Sun Yat-sen University

New Cooperative Medical Scheme Assigned Hospital Administration and Expenditure Control in China Xiyang Zheng, Sun Yat-sen University Tingting Qu, Sun Yat-sen University Shuguang Shen, Sun Yat-sen University Discussant: Jing Liu, Australian National University

Infrastructure Investment under Public-Private Partnership in China and its Policy Implications Jing Liu, Australian National University Discussant: Xun Zhang, Beijing Normal University

Session Number 18: Recent Development of Economic Theory Venue: D3:059 Time: 13:00 - 14:30 Tuesday 19 July Chair: Qingyuan Du, Monash University

Multi-period Matching Sangram V. Kadam, Harvard University Maciej H. Kotowski, Harvard University Discussant: C. Simon Fan, Lingnan University

Relative Deprivation, Social Distance, and Social Norms C. Simon Fan, Lingnan University Oded Stark, Universities of Bonn and Georgetown University Discussant: Jingran Yang, Renmin University of China

Productivity, Politics, and the Optimal Qualifying Competition Qijing Yang, Renmin University of China Jingran Yang, Renmin University of China Discussant: Yu Pang, Macau University of Science and Technology

Profitable Pollution Abatement? A Worker Productivity Perspective Yu Pang, Macau University of Science and Technology Discussant: Maciej H. Kotowski, Harvard University

Session Number 19: Agricultural Economics Venue: D3:144 Time: 13:00 - 14:30 Tuesday 19 July Chair: Chunlai Chen, Australian National University

Cold Chain Logistics in China and its Impact on the Export of Australian Perishable Food Products Yahua Zhang, University of Southern Queensland Alice Woodhead, University of Southern Queensland Discussant: Xiaolong Feng, Northwest A&F University

What Motivates Farmers’ Adaptive Intention to Climate Change: The Case from Apple Farmers of Shaanxi in China? Xiaolong Feng, Northwest A&F University

Xuexi Huo, Northwest A&F University Discussant: Qian Zhang, Nanjing Agricultural University

Subsidy Policies and Rice Planting Pattern Choices: An evidence from the investigate of Hunan Province Qian Zhang, Nanjing Agricultural University Quanzhong Wang, Nanjing Agricultural University Hong Zhou, Nanjing Agricultural University Discussant: Bo-feng Leng, Huazhong Agricultural University

Recut the Cheese: The Impacts of Agriculture Subsidy Change to Farmer’s Satisfaction on Land Circulation Bo-feng Leng, Huazhong Agricultural University Zhong-chao Feg, Huazhong Agricultural University and Center of Hubei Rural Development Discussant: Yahua Zhang, University of Southern Queensland

Session Number 20: Inequality Venue: D3:149 Time: 13:00 - 14:30 Tuesday 19 July Chair: Yuk-shing Cheng, Hong Kong Baptist University

The Relationship between Housing Price and Rural-urban Disparity in China Jing Li, Hang Seng Management College Tsun Se Cheong, Hang Seng Management College Discussant: Chaoping Lu, Nanjing Agricultural University

The Economic Disparities and Their Spatial-temporal Evolution in China at Multi-Levels: A Study Based on the Global Night-time Light Data Chaoping Lu, Nanjing Agricultural University Yingheng Zhou, Nanjing Agricultural University Binjian Yan, Nanjing Agricultural University Discussant: Jinzhi Tong, Xiamen University

An Empirical Study of the Income Redistribution Effect of the Taxes Imposed on Citizens in China Jinzhi Tong, Xiamen University Zhuzhu Zhou, Xiamen University Discussant: Jing Li, Hang Seng Management College

List of Conference Participants

(Note: Participants of Policy Forum and Tourism Forum are not included in this list) First Name Surname Organisation Name/JCU Account Number Email Address Sajid Anwar University of the Sunshine Coast [email protected] Yuijang Bi Shanghai Lixin University of Commerce [email protected] Taha Chaiechi James Cook University [email protected] Chunlai Chen Australian National University [email protected] George Chen Australian Trade and Investment Commission (Austrade) [email protected] Jian Chen Southeast University [email protected] Shiyuan Chen The University of Hong Kong [email protected] Andy Cheng Hang Seng Management College [email protected] Yuk-shing Cheng Hong Kong Baptist University [email protected] James Tsun Cheong Hang Seng Management College [email protected] Qingyuan Du Monash University [email protected] Janie Edwards James Cook University [email protected] Zhaobin Fan Jinan University [email protected] Cheng Ze Fan Lingnan University [email protected] Fuqian Fang Renmin University of China [email protected] Hanming Fang University of Pennsylvania [email protected] Xiaolong Feng Northwest A&F University [email protected] Dahai Fu Central University of Finance and Economics [email protected] Iain Gordon James Cook University [email protected] Nicolaas Groenewold University of Western Australia [email protected] Xin Gu Southeast University [email protected] Xiumei Guo Curtin University [email protected] Liangfeng Hao Southeast University [email protected] Zongyue He Beijing Normal University [email protected] Yaqin He Huazhong Agricultural University [email protected] Meen Chee Hong James Cook University [email protected] Sam Huang University of South Australia [email protected] Da Huo Central University of Finance and Economics [email protected] Diane Jarvis James Cook University [email protected] Zhan Jintao Nanjing Agricultural University [email protected] Jiangang Kang Education Office of Chinese Embassy in Australia [email protected] Steven Kates RMIT University [email protected] Gerard Kelly Reserve Bank of Australia [email protected] Maciej Kotowski Harvard University [email protected] James Laurenceson University of Technology Sydney [email protected] Wai Choi Lee Hang Seng Management College [email protected] Chris Legg The Treasury [email protected] Bo-feng Leng Huazhong Agricultural University [email protected] Jihong Li China University of Geosciences [email protected] Victor Jing Li Hang Seng Management College [email protected] Tianxiang Li Nanjing Agricultural University [email protected] Songlin Li Southeast University [email protected]

Faqin Lin Central University of Finance and Economics [email protected] Shu Lin Fudan University [email protected] Jing Liu Australian National University [email protected] Hongbo Liu James Cook University [email protected] Caixia Liu Jinan University [email protected] Stewart Lockie James Cook University [email protected] David Low James Cook University [email protected] Hua Lu Nanjiang Agricultural University [email protected] Chaoping Lu Nanjing Agricultural University [email protected] Le Ma University of Sydney [email protected] Shiguang Ma University of Wollongong [email protected] Tracey Mahony James Cook University [email protected] Jennifer McHugh James Cook University [email protected] Jiawei Mo The University of Hong Kong [email protected] Lin Pan Jinan University [email protected] Yu Pang Macau University of Science and Technology [email protected] Philip Pearce James Cook University [email protected] Jammie Penm Australian Bureau of Agricultural and Resource Economics and Sciences [email protected] Luigi Pistaferri Stanford University [email protected] Josephine Pryce James Cook University [email protected] Yu Qin National University of Singapore [email protected] Meng Qin Southeast University [email protected] Bin Qiu Southeast University [email protected] Hao Ren Tsinghua University [email protected] Dane Richmond Australian Trade and Investment Commission (Austrade) [email protected] Ivan Roberts Reserve Bank of Australia [email protected] Wenjuan Ruan Murdoch University [email protected] Luisa Rust Australian Trade and Investment Commission (Austrade) [email protected] Ruicong Sang Shanghai Lixin University of Commerce [email protected] Xunpeng Shi National University of Singapore [email protected] Xing Shi The University of Western Australia [email protected] Wei Si China Agricultural University [email protected] Xuguang Song Beijing Normal University [email protected] Baozhong Su China Agricultural University [email protected] Sizhong Sun James Cook University [email protected] Yanwen Tan South China Agricultural University [email protected] Yihong Tang Central University of Finance and Economics [email protected] Wei Tian University of International and Business and Economics [email protected] Jinzhi Tong Xiamen University [email protected] Komla Tsey James Cook University [email protected] Ying Wang Nanjing Agricultural University [email protected] Zhifeng Wang Nanyang Technological University [email protected] Haibo Wang Texas A&M International University [email protected] Wenxiao Wang University of Adelaide [email protected] Yanjiao Wei Nanjiang Agricultural University [email protected] Teddy Wen James Cook University [email protected] Wing Thye Woo University of California, Davis [email protected] Huaqing Wu Hefei University of Technology [email protected]

Ya Wu Jinan University [email protected] Guiying Wu Nanyang Technological University [email protected] Yanrui Wu University of Western Australia [email protected] Junjie Xia University of Southern California, USA [email protected] Jing Xiang Chinese Academy of Social Sciences [email protected] Erwei Xiang Edith Cowan University [email protected] Hao Xiao Hunan University [email protected] Yanyan Xiong Southeast University [email protected] Xiao Xu Education Office of Chinese Embassy in Australia [email protected] Lilai Xu RMIT University [email protected] Jingran Yang Renmin University of China [email protected] Haichun Ye Shanghai University of Finance and Economics [email protected] Wei Yin Southeast University [email protected] Miaojie Yu Peking University [email protected] Huasheng Zeng South China Agricultural University [email protected] Xun Zhang Beijing Normal University [email protected] Deyong Zhang Chinese Academy of Social Sciences [email protected] Ruohan Zhang Jinan University [email protected] Qian Zhang Nanjiang Agricultural University [email protected] Jingjing Zhang Nanjing Audit University [email protected] Shane Zhang University of Southern Queensland [email protected] Nan Zhao Beijing Normal University [email protected] Xiyang Zheng Sun Yat-sen University [email protected] Yixiao Zhou Curtin University [email protected] Zhangyue Zhou James Cook University [email protected] Delin Zhuang Hefei University of Technology [email protected]