Okayama Economic Review
Published by the Economic Association of Okayama University


Kataoka, Sachio
Since 1997, China has earnestly taken the basic trends of economic globalization as the object to incorporate them into its world strategy, though China didn't exactly decide the “Reform and Opening up Policy” on the perspective of the economic globalization. China considered it more useful for her economic development and raising its position in the world political economy to set China into the main stream of economic globalization as the basic trend within the world economy. Economic globalization has twin aspects with a national economy ; inflow of foreign direct investment, portfolio investment, technology, labor and services, and outflow of them. This article focuses on the latter problems experienced by China. We can find some reasons in the background of China’s strategic orientation, as follows ; China must secure its economic security for smooth economic development , whereas, a few main developed countries strengthen controls over basic resources and market share of the world within global economic competition, China has developed conditions to use comparative advantages in some sectors to set up China’s direct investment enterprises abroad, thus increasing foreign currency reserves− an important factor , incurring frequent conflicts in exports, securing foreign technology by M&A. Currently, China’s foundation of political economy in “The Age of Peace and Development”, “The Age of Economic Globalization,” lays special emphasis on “The General Security Strategy” accountable not only to her own country’s military security but also to its economic security for said economic development. The main point is to strengthen global economic relations by economic cooperation−the latter aspects of economic globalization mentioned above. This article analyzes steps for the relaxation of controls over China’s enterprise activities overseas, the relaxation of foreign exchange controls, and the encouragement for China’s enterprises going abroad to study its rapid progress of said strategy . Lastly, it refers to Hong Kong’s vanguard position in a China’s “Going Abroad.” Strategy.