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1、外文翻译原文LocationalDeterminantsofJapaneseForeignDirectInvestmentinChinaMaterialSource:AsiaPacificJournalofManagement,19,63–86,2002c2002KluwerAcademicPublishers.ManufacturedinTheNetherlands.Author：ANDREWDELIOSCHANGHUIZHOU2.BackgroundonFDIinChinaForeigninvestmen
2、tinChinahasalonghistory.Intheearly1900s,British,French,GermanandRussianfirmswerethemostactiveforeigninvestorsinChina.Collectively,firmsfromthesecountriesaccountedfornearly90percentofallforeigninvestmentinChinain1902(Wu,1958).Theimportanceofthesenationsasfore
3、igninvestorsinChinadeclinedinthenextfortyyearsasthenominalvalueofJapaneseinvestmentinChinagrewfromalowpositionofUS$53million(3.5percentofthetotalvalueofFDIinChinain1902)toUS$6,829millionin1944.Thelatterfigurerepresented75percentofallforeigninvestmentinChina
4、in1944.ItmarkedthepeakvalueofinvestmentinChinaduringJapan’soccupationofChina(Wu,1958).Notableaboutforeigninvestmentduringthisperiodistherelativeabsenceofjointventures,anditsconcentrationinShanghaiandthenorthernprovincesofChina(HayterandHan,1997).Between194
5、9and1976,Chinafolloweditseconomicstrategyofself-reliance.AftertheinstitutionoftheActofJointVentureEnterprisesin1979,whichformallyre-openedChina’sdoorstoFDI,foreigninvestmentbegantoresume.TheActmandatedthatforeignfirmstakeaminimumequityshareof25percentinfore
6、igninvestedenterprises,butitdidnotprescribeamaximum.Aswell,intheoriginalAct,foreigninvestmentwaslimitedtofourSpecialEconomicZones(SEZs):Shantou,Shenzhen,XiamenandZhuhai.ThefifthSEZ,Hainan,wasaddedin1988(seeTable1).IntheseSEZs,avarietyofFDIincentiveswereprom
7、oted.Forexample,atwo-yeartaxholidaywasgrantedtoforeignsubsidiariesonthefirsttwo-yearsofprofitableoperations;thethirdtofifthyearsofprofitabilityweretaxedat50%ofnormalrates.Dutieswereeasedontheimportofequipmentandtheexportofproduct;andotherbarriers,suchasentryan
8、dexitformalities,werereduced(Jia,1994).Amongotherfactors,vasttractsoflandwereallocatedforcommercialusesandgreenfieldestablishments,whichespeciallyattractedmuchoftheHongKonginvestmentintheearlyperiods.Evenwitht
