Machinery and Chinas Trade-Growth Nexus 739 Table 3. Capital-labour ratio (yuan per worker), 1980-95. Sources: ZGJTN (993, pp 90-102 116-128);zIN(1994p.378-379,397;zTN(1995,pp.38,401);zIN(1996,pp.414;427). a) Manufacturing (b)Mechanical and (c) Electronics (b)/(a)(c)/(a) electronics industry ndustry 1006 3798 21058 43842 71035 54753 1995 72005 120474 Notes: Capital-labour ratio is defined as total capital divided by the year-end number of workers fo 1980-92 figures, and by the year-average number of workers for 1993-95 figures; where, total capital is the of net value of fixed assets and working capital, both year-average Manufacturing= All industries- Extraction Water supply- Electricity and gas. Mechanical and electronics= Metal products +Machinery Transport equipment Electrical machinery Elect Electronics refers to the electronics and telecommunication equipment industry. Data cover township-and- ting industrial enterprises Table 4. Labour productivity (yuan per worker), 1980-95. Sources: ZGJTN (1993, pp 90- 102,142-154;, ZGJTN(1994,pp.8l,129-144,213-243);zIN(1995,pp.388,401);zIN (1996,p.414,427) (a)Manufacturing (b) Mechanical and (c) Electronics (b)/(a)(c)/(a) lectronics industry 2271 1987 6628 9256 6738 10505 2345 4512 19628 0.94 17433 17237 32831 Labour productivity is defined as the net output value at current prices divided by the year-end er of workers for 1980-92 figures, and as the industrial value-added at current prices divided by the average number of workers for 1993-95 figures. Manufacturing= All industries- Extraction-Water supply Electricity and gas. Mechanical and electronics= Metal products Machinery Transport equipment Electrical machi- Electronics refers to the electronics and telecommunication equipment industry. Data cover township-and- above independently accounting industrial enterprises. per employee as capital-intensive and those having the measure 10 per cent below the average as labour-intensive( World Bank, 1994; Annexes l l and 7. 2). On this count China's electronics industry is definitely capital intensive while its wider machinery ector cannot be classified as labour intensive 01998 John Wiley Sons, Ltd J.mnt.Dev.10,733-74901998)per employee as capital-intensive and those having the measure 10 per cent below the average as labour-intensive (World Bank, 1994; Annexes 1.1 and 7.2). On this count, China's electronics industry is de®nitely capital intensive while its wider machinery sector cannot be classi®ed as labour intensive. Table 3. Capital-labour ratio (yuan per worker), 1980±95. Sources: ZGJTN (1993, pp. 90±102, 116±128); ZTN (1994, pp. 378±379, 397); ZTN (1995, pp. 388, 401); ZTN (1996, pp. 414; 427). (a) Manufacturing (b) Mechanical and electronics industry (c) Electronics industry (b)/(a) (c)/(a) 1980 7769 8427 9106 1.08 1.17 1985 9666 10067 13638 1.04 1.41 1987 11937 12417 17117 1.04 1.43 1988 13696 13798 19467 1.01 1.42 1989 16670 16519 23798 0.99 1.43 1990 19213 18750 26998 0.98 1.41 1991 21893 21058 33189 0.96 1.52 1992 33937 33456 57252 0.99 1.69 1993 43551 43842 71035 1.01 1.63 1994 54753 56358 95733 1.03 1.75 1995 69359 72005 120474 1.04 1.74 Notes: Capital±labour ratio is de®ned as total capital divided by the year-end number of workers for 1980±92 ®gures, and by the year-average number of workers for 1993±95 ®gures; where, total capital is the sum of net value of ®xed assets and working capital, both year-average. Manufacturing ˆ All industries7Extraction7Water supply7Electricity and gas. Mechanical and electronics ˆ Metal products ‡ Machinery ‡ Transport equipment ‡ Electrical machinery ‡ Elect￾ronics ‡ Instruments. Electronics refers to the electronics and telecommunication equipment industry. Data cover township-and￾above independently accounting industrial enterprises. Table 4. Labour productivity (yuan per worker), 1980±95. Sources: ZGJTN (1993, pp. 90± 102, 142±154); ZGJTN (1994, pp. 81, 129±144, 213±243); ZTN (1995, pp. 388, 401); ZTN (1996, pp. 414, 427). (a) Manufacturing (b) Mechanical and electronics industry (c) Electronics industry (b)/(a) (c)/(a) 1980 3102 2271 2393 0.73 0.77 1985 4089 3900 5474 0.95 1.34 1987 4734 4273 5939 0.90 1.25 1988 5791 5278 8362 0.91 1.44 1989 6628 6077 9256 0.92 1.40 1990 6677 5861 9044 0.88 1.35 1991 7479 6738 10505 0.90 1.40 1992 9201 8486 11634 0.92 1.26 1993 15399 14512 19628 0.94 1.27 1994 17448 16399 26412 0.94 1.51 1995 17433 17237 32831 0.99 1.88 Notes: Labour productivity is de®ned as the net output value at current prices divided by the year-end number of workers for 1980±92 ®gures, and as the industrial value-added at current prices divided by the year-average number of workers for 1993±95 ®gures. Manufacturing ˆ All industries7Extraction 7Water supply7Electricity and gas. Mechanical and electronics ˆ Metal products ‡ Machinery ‡ Transport equipment ‡ Electrical machi￾nery ‡ Electronics ‡ Instruments. Electronics refers to the electronics and telecommunication equipment industry. Data cover township-and￾above independently accounting industrial enterprises. #1998 John Wiley & Sons, Ltd. J. Int. Dev. 10, 733±749 (1998) Machinery and China's Trade±Growth Nexus 739