Browsing by Author "Wu, Yanrui"

Now showing 1 - 5 of 5
  • Thumbnail Image
    Item
    The Chinese stock market: development and prospects
    (The University of western Australia, 2003-03) Fan, Xiangmei; Wu, Yanrui; Groenewold, Nicholaas
    This paper reviews the history of the development of the Chinese stock market, analyses the market scale and structure and sheds light on the prospects of the market. The development of the stock market can be classified into four stages, namely,the early stage of stock market development (1983-1991), the transition of the regulatory system (1992-1996), the red chips craze and the deflation (1997-1999) and WTO entry and state share reduction (2000 present). We argue that the current structure of China's stock market is unbalanced and that this has important repercussions on the performance of listed companies and the further development of the stock market. Solving the problem with the poor liquidity of non-tradable shares is a particularly urgent task. As China is expected to maintain its current economic growth momentum,the prospects are that the Chinese stock market will continue to expand in the coming decade.
  • Thumbnail Image
    Item
    Comparing international consumption patterns
    (2022) Clements, Kenneth W; Wu, Yanrui; Zhang, Jing
    When attempting to identify empirical regularities in consumption patterns, their tremendous diversity across countries represents both a major opportunity and challenges, for example, consumers in rich countries devote less than 20 percent of their budget to food, while this rise to more than 50 percent in the poorest countries. This paper uses a major new database released in Selvanathan and Selvanathan (2003) to explore several related issues, including the extent to which the consumption basket is diversified and how this changes with income, whether a simple utility-maximizing model is capable of explaining the diversity of consumption patterns internationally, the measurement of the extent to which tastes differ across countries, and how the world can be partitioned into groups of countries with minimal within-group heterogeneity of tastes on the basis of the revealed preference of consumers.
  • Thumbnail Image
    Item
    Demand for feedgrain in China: implications for foodgrain consumption and trade
    (2023) Wu, Yanrui
    As Chines consumption of feed-related food increases, demand for feed and hence feedgrain has attracted a lot of attention both inside and outside China. This is not only because of food security concern but also due to the potential implication for international trade given the sheer size of the Chinese market. This paper deals with some of the issues associated with China's demand for feedgrain. In particular, it sheds light on the relationship between feedgrain requirement and foodgrain consumption in China. It especially focuses on examining the impact of economic growth and demographic changes on demand for feedgrain in the near future. The findings are used to draw implications for international grain trade.
  • Thumbnail Image
    Item
    The dynamic interrelationship between the greater China share markets
    (2023) Groeneweld, Nicholaas; Tang, Sam Hak Kan; Wu, Yanrui
    This paper investigates the interrelationships between prices on the mainland Chinese share market and those in the neighboring markets of Hong Kong and Taiwan. While there is a growing literature on interrelationships between share market including the emerging markets in Asia, very little is known about the role of mainland markets in the region. We consider the interrelationships between the Shanghai and Shenzhen exchanges and those in Hong Kong and Taiwan. We begin by combining the Shanghai and Shenzen price indexes for Hong Kong and Taiwan. We find that the mainland markets are relatively isolated from the other two markets considered, although after the Asian crisis there is evidence that Hong Kong has weak predictive power for returns in the mainland. Hong Kong also clearly Granger-causes Taiwan although the reverse is not true. Both Hong Kong and Taiwan have strong contemporaneous relationships, a feature which is more marked after the Asia crisis. Both before and after the 1997, there were strong contemporaneous relationships between the two mainland markets, vindicating our earlier decision to treat them as a single market.
  • Thumbnail Image
    Item
    Understanding international food consumption patterns
    (The University of Western Australia, 2021-05-11) Wu, Yanrui; Wu, Yanrui
    International food consumption has attracted a lot of attention in the literature. In particular, a series of studies have been conducted using the popular international comparision project (ICP) databases (released in the 1970s and 180s). This paper adds to the growing literature by presenting an analysis of the 1995 ICP data. It aims to examine cross-country consumption patterns of individual food items such as cereals, meat, dairy products and other foods.