China’s Economy in the Post-WTO Environment

China’s Economy in the Post-WTO Environment

Stock Markets, FDI and Challenges of Sustainability

Advances in Chinese Economic Studies series

Edited by Lilai Xu

The book explores the implications of both the extension of the market into key parts of the Chinese economy and the integration of China into the global economy. The main focus of the book is on the role and nature of China’s financial system and its ability to transform enterprise and household behaviour and the performance of investment finance, notably in the context of a two-way flow of foreign direct investment. All the extensive chapters highlight the issue of sustainability – some see the incompleteness of market reform as a problem; others are more willing to accept a pragmatic blending of the operation of the free market and government intervention.

Chapter 11: Urban Sustainability: The Case of the Transportation System in Big Cities

Jianling Li, Siamak Ardekani and Stephen Mattingly

Subjects: asian studies, asian economics, economics and finance, asian economics, financial economics and regulation, international economics


1 Jianling Li, Siamak Ardekani and Stephen Mattingly INTRODUCTION Transportation occupies a critical position in the economy and urban life of China. Since the beginning of the new century, the Chinese automobile industry has grown rapidly. In recent years, China has become the largest car market and the second largest automobile maker in the world (Hogg, 2009; RIA Novosti, 2009). The growth in automobile production, income and vehicle ownership, along with the increasing intensity of Chinese engagement in global economic activities, has resulted in a significant increase in travel demand, which in turn has put great pressure on China’s transportation infrastructure, especially in the urban areas. Traffic congestion and air pollution have affected production efficiency in the economy and the quality of life in Chinese cities. Meanwhile, there is a lack of resources for coping with these problems. Hence, how to develop and maintain a financially, socially and environmentally sustainable transportation infrastructure has become a challenge facing transportation professionals in China. Previous experience has demonstrated that the success of building and maintaining a sustainable transportation system depends largely on the adopted transportation financing and operating/management (O&M) policies. In order to facilitate policy making, transportation professionals need tools that can assess policy impacts. The main objective of this chapter is to introduce a planning tool that can assess the impacts of transportation financing and operating policies, and has the potential to assist transportation planners and policy makers when making decisions in China. In the following section, we discuss the current...

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