China's Economic Openness Empirical Research

Since the opening up thirty years ago, China has archived great success in the economic construction and blended into globalization. In retrospect, what we have learned from the past? Degree of economic openness, as the index to synthetically measure the openness, really makes sense for us to study the progress. However, different ways will lead to different results, and it's very hard to totally reflect the right progress.To do this, this article selects 6 indexes from four major domains, which includes the current items as well as capital account. And also these indexes cover both the gross and the depth of the openness. Further more, I have synthesized and improved the way to measure.Factor Analysis, as a very important way in multivariable statistical analysis, could simplify variables while reflect all the information. As a result, this article employs this model to analyses data in China from 1990 to 2003 to get a comprehensive index.Through empirical analysis, we have some conclusion: China has continued its opening up since 1990 and this progress accompany the improvement of the life of Chinese people; Trade are as important as Finance, and Service Trade has played a more and more important role; the opening up was influenced by the change of policy and environment at home and abroad, so we should create a better environment to further opening up.