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The purpose of this paper is to examine the evolution of China's securities market regulation from 1980 to 2007 and the dual role of the government in this process.

When the government is simultaneously the owner and regulator of the securities market, the evolution of securities market regulation follows a path of compulsory institutional change. China's Government authorities have played a dual role in this process by acting both as the securities market regulator and the controlling owner of the stock exchanges. The paper uses the evolution of China's securities market regulation from 1980 to 2007 to illustrate this theoretical framework.

Using the case of China, this paper provides unique evidence of how securities regulation evolves in response to government direction and supervision if the government is both the owner and the regulator of the securities market.

The paper offers insight into issues of securities market regulation in China and other emerging markets.

The purpose of this paper is to propose an approach for predicting the movements of Chinese medicinal material price indexes using news based on text mining.

A research framework and three major methods, namely, domain dictionary construction, market convergence time calculation and dimensionality reduction integrating semantic analysis, are proposed for the approach. The proposed approach is applied in practice for predicting the price index movements of the top ten Chinese medicinal materials that receive the greatest media attention.

A set of experiments performed herein show that a predictive relationship exists between the news and the commodity market and that each of the three major methods improves the forecasting performance.

Because the field of Chinese medicinal materials lacks a corpus that can be used for sentiment analysis, the accuracy of a trained automatic sentiment classifier is lower than obtained by a manual method, which can cause the calculated convergence result to be inaccurate, thus affecting the final prediction model. The manual method of having people label news decreases the proposed method’s aspects of being intelligent and automatic.

Using the method proposed herein to predict the trends in Chinese medicinal materials prices helps farmers arrange a reasonable planting plan to pursue their best interests.

The method proposed herein to predict the trends in the prices of Chinese medicinal materials is conducive to the government arranging planned drug availabilities in order to avoid disasters in which herbs are looted.

The produced prediction result is meaningful in supporting farmers and investors to make better decisions in growing and trading Chinese medicinal material, which leads to financial returns on investments and the avoidance of severe losses.

China's economic transition is essentially the process of China's institutional changes. During the changes, the appearance of institutional innovation is not regular; instead, it is intermittent and random. The purpose of this paper is to show that the fitful appearance of institutional innovation is the root of China's economic growth and fluctuations.

This paper constructs a real business cycle (RBC) model introducing the institutional factor expressed in the quantitative form under the dynamic stochastic general equilibrium (DSGE) framework by measuring China's institutional changes quantitatively.

By comparing the characteristics of the actual economic data with those of the simulated economic data, we find that this RBC model can explain 94.44%, 66.07%, 23.46%, 21.03% and 15.45% of the cyclical fluctuations in output, investment, labor, consumption and capital, respectively.

The impulse response analysis finds that the institutional shocks have a relatively long duration, lasting about 30 years, and decline slowly over time, while technological shocks decline relatively fast, lasting approximately ten years.

This chapter examines the changing state–university–student relationships in post/socialist China since the late 1980s. We begin with an introduction to four salient themes in scholarship on Chinese post/socialism that are highly relevant to higher education: globalization, gradualism, civic society, and a critique of holism. These themes help us explain interrelated educational trends that affect the state–university–student relationship: the globalization, “massification,” and stratification of higher education; the redefined role of the state in university governance and management; higher education marketization and privatization; and the quest for meaning and (e)quality in and through higher education. Our general argument is that during the “socialist” period the main relationship central to higher learning was between the state and students. Universities were agents of the state; from a legal point of view, indeed, universities did not have an independent status from the state. In the “post-socialist” era the university–student relationship has become more significant. We examine this reconfiguration through two case studies, one on the development of college student grievance and rights consciousness, and the other on reforms in higher education student services administration. When looked at from the point of view of the state, we see that appropriation and implementation of policies and regulations shaping student rights and services are in partial contradiction with state policies to accelerate economic growth and bolster party authority. From the point of view of universities, we see institutions grappling with how to deliver on forward-looking structures and actions while navigating between the state's policy mandates and growing expectations and demands of its student and business stakeholders. From the point of view of students, we see how constrained agency, uncertainty, and the power of the credential motivates social praxis. At all levels of the state–institution–student relationship actors are employing a kind of pragmatic improvisation (one of the salient features of post/socialism) captured by the well-known Chinese proverb “groping for stones to cross the river.” This saying is an apt metaphor for the tentative searching by state, institution, and individual for a safe foothold in the post/socialist world.