China’s Development of Wind and Solar Power

Brandt, Loren; Wang, Luhang

doi:10.1017/9781108645997.009

Cited by 4 publications

(2 citation statements)

References 23 publications

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“…If, on the other hand, a government or related entities invest in a firm or a project that private market participants would deem not worthy of investment, or of a risk profile that would require more costly terms to justify investment, competitive distortions in the form of a below-market equity infusion become a real possibility. 19 Even where a government's initial investment decisions are market-based, it does not follow that the government will subsequently behave as a regular shareholder. Private investors or shareholders typically expect the firms in which they have invested to conduct their business in a manner that maintains or improves financial performance.…”

Section: So What Is Below-market Finance Anyway?mentioning

confidence: 99%

“…18 Including, but not limited to, environmental, social, and governance (ESG) principles. 19 Article 14(a) of the WTO's Subsidies and Countervailing Measures (SCM) Agreement states in this regard that "government provision of equity capital shall not be considered as conferring a benefit, unless the investment decision can be regarded as inconsistent with the usual investment practice (including for the provision of risk capital) of private investors." 20 Evidence exists that shows ESG investments to perform relatively well, which suggests that the trade-off between profit maximisation and other objectives is not necessarily a strict one (Friede, Busch and Bassen, 2015[64]).…”

Section: So What Is Below-market Finance Anyway?mentioning

confidence: 99%

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Measuring distortions in international markets: Below-market finance

2021

OECD Trade Policy Papers

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The support that governments provide to their industrial producers has been a growing source of concern. Much of that support is provided by governments through the financial system, either in the form of below-market borrowings or below-market equity. To better understand the nature and scale of this support, this report uses publicly available information for 306 of the largest manufacturing firms in 13 industrial sectors, covering the period 2005-19. It finds that below-market borrowings tend to be relatively large in heavy industries, including some that reportedly suffer from excess capacity, while belowmarket equity returns appear to be more common in high-tech industries such as aerospace and semiconductors. Below-market borrowings also appear to benefit firms with more than 25% government investment relatively more. These findings on below-market finance raise a number of important issues for trade rules, including in relation to transparency and the scope of subsidy disciplines.

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Section: So What Is Below-market Finance Anyway?mentioning

confidence: 99%

Section: So What Is Below-market Finance Anyway?mentioning

confidence: 99%

Measuring distortions in international markets: Below-market finance

2021

OECD Trade Policy Papers

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Upgrading Big Brother: Local Strategic Adaptation in China’s Security Industry

Huang

Tsai

2021

St Comp Int Dev

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What are the circumstances under which latecomer firms can develop indigenous innovative capacity and compete globally? China’s construction of a vast domestic security apparatus has contributed to it becoming the world’s largest supplier and consumer of video surveillance products and services. It has also produced several globally competitive companies, including those engaged in digital surveillance. Although security equipment producers initially emerged in Guangdong province, China’s leading technology companies are concentrated in Zhejiang province. This comparative study is motivated by the puzzle of why Guangdong, which has a larger security equipment industry with more local investment and earlier introduction of foreign technology, has lagged behind Zhejiang in technological upgrading. We trace this provincial variation to the policy choices of local state bureaucracies and the business strategies of local enterprises. While macro-level variables such as market demand and establishing national industry standards are important for industrial development, this study demonstrates the critical role of local technocrats and entrepreneurs in facilitating technological innovation in a rapidly evolving surveillance regime. Our analysis also reveals how latecomers to a technology-intensive industry were able to adapt their products strategically to meet the technical demands of a major segment of the domestic market, China’s public security sector.

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How renewable energy technological innovation promotes renewable power generation: Evidence from China's provincial panel data

Zheng

Yang

2021

Renewable Energy

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China’s Development of Wind and Solar Power

Cited by 4 publications

References 23 publications

Measuring distortions in international markets: Below-market finance

Measuring distortions in international markets: Below-market finance

Upgrading Big Brother: Local Strategic Adaptation in China’s Security Industry

How renewable energy technological innovation promotes renewable power generation: Evidence from China's provincial panel data

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