China Policy Journal Volume 1, Number 1, Fall 2018 | Page 131

China Policy Journal
HK, Macao
and −146.61 48.76*** −8.14 −0.04 −10.38* −0.04
Taiwan
investor (178.46) (17.67) (27.85) (0.07) (5.78) (0.04)
Foreign
investor 19.3 11.12 −0.84 −0.06 −19.02*** 0.01
(56.03) (11.37) (7.19) (0.07) (6.22) (0.05)
Companies
with −99.66** 25.36* 52.34 −0.05 −16.26** −0.03
limited
shares (48.54) (14.97) (50.35) (0.07) (6.31) (0.04)
Others −92.33*** 11.51* 10.45 −0.07 −17.10** −0.03
(29.16) (6.84) (16.47) (0.06) (7.77) (0.04)
Firm age
(years) 0.32*** −0.21** −0.07 0 −0.1 0
Industry (base = mining)
(0.11) (0.10) (0.06) 0.00 (0.14) 0.00
Food and
beverages 50.26 19.02 16.87* −0.26*** 3.8 −0.31***
(89.18) (16.31) (9.34) (0.03) (5.06) (0.08)
Textiles and
leather −64 13.86* 27.70* −0.19** 3.33 −0.29***
(49.92) (7.39) (14.67) (0.09) (2.74) (0.07)
Pulp and
paper −45.68 47.79** 94.92 −0.27*** 2.27 −0.33***
(77.88) (20.04) (69.00) (0.04) (2.70) (0.07)
Chemicals −25.34 27.33 85.24* −0.15** 7.33* −0.26***
(62.05) (18.48) (46.95) (0.07) (4.23) (0.07)
Medical −32.38 8.39 47.90*** −0.28*** −0.05 −0.33***
(49.98) (8.36) (17.31) (0.02) (2.53) (0.07)
Fiber,
rubber and −38.3 19.67 5.93 −0.26*** 18.71 −0.32***
plastic (65.87) (26.08) (20.49) (0.04) 13.91) (0.07)
Smelting −49.93 4.12 10.07 −0.29*** 0.03 −0.33***
(62.06) (11.75) (14.23) (0.03) (4.38) (0.07)
Machinery −102.24 11.2 9.34*** −0.29*** −0.87 −0.32***
manufacture
(87.87) (12.63) (3.44) (0.02) (1.05) (0.06)
Utilities 154.48* 4.44 10.57 −0.12*** 31.06 −0.27***
(90.40) (16.83) (36.76) (0.04) 32.86) (0.08)
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