Management of investment development of the agricultural sector of the economy of China

Abstract

Globalization transformations of the economy did not ignore transformations in the agricultural sector of the People's Republic of China. The 20th National Congress of People's Representatives of the Communist Party of China proposed to accelerate the pace of construction of an agricultural state and raise it to an unprecedented height, noting the growing interest of the world community in China's agricultural sector. Against the background of promoting the formation of a new model of economic domination and accelerating sustainable development, investing in the agricultural sector will not only meet today's challenges, but will also become an important part of the internationalization of China's agricultural cooperation, which will contribute to bringing the country to a new level of international cooperation. Against the background of the globalization of the economy and the internationalization of agriculture, cooperation has become the main vector of international agricultural cooperation. The main directions of managing the development of investment processes in China's agricultural sector are the optimization of the use of agricultural resources in the regions and the realization of complementary advantages of the primary, secondary and tertiary sectors of industry by means of modeling the complex system of the country's agricultural sector. The aim of the dissertation is to improve the theoretical, methodological and organizational foundations of the investment development of China's agrarian sector in the context of globalization. According to the goal, the following tasks were completed in the dissertation: - were deepened the essence, methodological foundations and features of the investment development of the agrarian sector of the Chinese economy; - are substantiated the expediency and peculiarities of the application of foreign investment experience in the agricultural sector of China with the aim of their adaptation to the conditions of the post-communist economy; - was carried out an empirical study of the state of investment development in the agrarian sector of the economy on the basis of a comprehensive analysis of the dynamics, structure and sources of investment receipts, the influence of the state and the globalizing market environment on them; - were investigated the territorial and organizational factors of the investment attractiveness of agricultural production in the provinces of China, and also were determined the main problems and directions for their solution; - were proposed a solution to the problem of intensifying the investment development of the agrarian sector of the Chinese economy by optimizing production and economic processes, applying the mechanism of rational attraction of foreign capital, and creating a system of reforms in the agrarian sector. The object of the study is the process of managing the investment development of the agrarian sector of the Chinese economy. The subject of the study is a set of theoretical, methodical and applied aspects of managing the investment development of the agrarian sector of the Chinese economy in the context of globalization. In this dissertation for the scientific degree of Doctor of Philosophy, a variety of research methods are widely used, including a retrospective analysis of the literature, comparative studies, a combination of qualitative and quantitative research, a symbiosis of theory and empirical research, as well as a mathematical method of cost and output balance. In the introduction, the justification of the research topic is comprehensively analyzed, its connection with scientific programs and topics is reflected, the goal and task of the research, the object, the subject are determined, the scientific novelty and practical significance of the results are indicated, the personal contribution of the recipient of the scientific work is determined, the approbation of the results is noted on the topic of the dissertation through participation in conferences and other events. The first chapter provides theoretical explanations of the main definitions of the dissertation research, which is basically a systematization of scientific concepts and the main issues of effective management of agricultural investments in the period of rapid development of the Chinese economy under the influence of globalization. The main attention is paid to the empirical research method of agricultural investment management, which will provide the necessary theoretical and methodological support for this research. Thus, the place of investments in the system of scientific knowledge was determined, which is characterized by the interrelationships of investing with other scientific categories and allows to justify and generalize its methodological principles. As a result of the synergistic agglomeration of existing political economic theories of development, the practical meaning of the term "investment development" was singled out, which determines its belonging to the totality of economic knowledge, and is considered as a means of overcoming crisis phenomena in the agrarian economy, contributes to the restoration and growth of productive capital, increasing the efficiency of agro-industrial production, introducing achievements of NTP and accelerating the development of agriculture. Investments belong to the most important indicators of the prosperity of the national economy, and the management of investment development is an indicator of changes in aggregate demand, the volume of national production and the level of employment of the population. Based on the national characteristics of the economic development of the People's Republic of China, the interpretation of investments depends on socio-cultural factors, and if in Western countries it is more often associated with the acquisition of intangible assets or copyrights, then in China it is most often equated with capital investments in land, construction or other material values. Based on the generalization of the existing definitions of the term "investment", a proper one is proposed, which takes into account the priorities and peculiarities of the development of the agrarian sphere of China under the influence of globalization processes. According to this, "management of the investment development of China's agricultural sector" is a set of economic, social, organizational and institutional measures carried out at the micro, meso and macro levels by all economic entities, regardless of the degree of subordination to the state, which ensure an increase in public welfare as a result of investing capital for a set period in any form and form in objects of the agrarian sphere, taking into account natural-climatic and socio-demographic factors, internal and external risks and other conditions of agricultural production. In the second chapter, a systematic analysis of investment management in China's agrarian economy and its relationship with the country's economic growth against the background of globalization is carried out by using the data of empirical analysis. Based on the method of entropy weight and the method of fuzzy comprehensive assessment was determined the framework system of agricultural investments and economic growth of agriculture, also was analyzed the impact of international transformation processes on the agricultural investment environment, structure, scale and level of economic development of agriculture in the People's Republic of China. Assessing the state of global world and Chinese investment development, as well as analyzing the current situation of investment management in the agrarian economy, weak points in the system were identified, and through the analysis of influencing factors and the most common ways of investing in agriculture based on the structural equation model (SEM), the interrelationships were determined the relationship between the economy of agriculture and economic growth against the background of globalization. Based on the input parameters of the agricultural investment environment, the structure and scale of agricultural investments, the changing characteristics and trends of the general economic growth of agriculture were analyzed in order to predict the general changes in the results of the investment development management of the agricultural sector. It was determined that in order to ensure investment activity in the agricultural sector, it is necessary to develop an appropriate strategy, the purpose of which will be to increase the standard of living and social protection of the population of rural areas based on investment activity and rational use of economic potential. It was established that in order to encourage investments, the state, first of all, is called to ensure the stability of the legislative field, reliable protection of property rights, support of the banking sector, and the use of international investment rules. The third chapter examines the investment management scheme of China's agrarian economy in the context of globalization. Thanks to the analysis and research of the current situation with the management of the investment environment in the main countries and regions of the world, the determination of the innovative direction of the system of investment management in the agrarian sphere of China against the background of globalization is of perspective importance. First of all, on the basis of the study of the experience of the United States of America, Japan and the European Union, was proposed a conceptual system of complex institutional development of the management of agricultural investments in China, by changing the vector from fully state financing of agriculture to public-private partnership in the field of agricultural investments. First, from the perspective of the status of agricultural investment management in the world was analyzed the management system of the agricultural investment environment in the United States, Japan, and the European Union. Thus, certain conceptual differences were identified, which provide an individual way of managing the development of agrarian investments in each country. For example, the United States is dominated by private enterprises that are very market oriented. Farmers and businesses independently decide the direction and scale of investment according to market demand and price changes to obtain better economic benefits. However, the Japanese government plays an important role in agricultural investment by providing funds and support to agricultural producers through subsidies and loans. The European Union has invested a lot of resources in agricultural science and technology, research and innovation. By funding research projects, creating networks of research cooperation and promoting the transfer of knowledge and technology, the EU aims to improve the efficiency of agricultural production, the efficiency of the use of resources and the quality of agricultural products. Through this analysis, each country's governance system and political support were identified in terms of policy, law, finance, science and technology, and talent, further underscoring the importance and complexity of managing agricultural investments in the context of globalization. Secondly, from the point of view of the institutional development of agricultural investment management in China, agriculture is the main source of family income for hundreds of millions of farmers, so a mechanism for attracting investments in the development of the socio-economic potential of rural areas has been determined, which will ensure the creation of an attractive investment climate in the whole the country Through the analysis, it is found that the history of China's agricultural investment management system has undergone many changes and reforms, and now it has formed a relatively complete management system, but it still faces some problems and challenges, including low capital supply, insufficient agricultural scientific and technological innovation, slow implementation land reform and the state of the ecological environment. Thirdly, a way of managing agricultural investments in the conditions of globalization is proposed. The ideology of optimization of the central system of agricultural investment, respect for the market economy, improvement of agricultural macro-control, integration of agricultural management resources, direction of rational consumption of agricultural products, as well as creation and improvement of regulatory and legal guarantees of agricultural investment is put forward as a red line in this section. These management ways can guarantee the improvement of China's agricultural investment environment, promote the growth of agricultural investment in the People's Republic of China, optimize the capital structure of participants in agricultural production and other aspects that ensure the management of the investment development of the agricultural sector of the Chinese economy. Therefore, through comprehensive analysis, the dissertation found that China's agricultural investment management has undergone many adjustments and reforms, and has now formed a relatively complete management system, but it still faces some problems and challenges, including insufficient capital supply, insufficient agricultural scientific and technical innovations, problems of the rural land system and environmental problems. Such specific measures as strengthening agricultural scientific and technological innovation, improving the financial system and promoting the standardization of agricultural investments were proposed. Finally, from the point of view of ways of managing the agricultural investment environment in the conditions of globalization, it is proposed to implement an agricultural investment policy and increase the efficiency of agricultural production: increase non-state financial contributions to promote the development of the agricultural economy; ensuring effective logistics for the supply of agricultural products and increasing farmers' incomes; leading market self-regulation and moderate government intervention in macro-control are certain guidelines for agricultural investment management and development in China.