School of Business and Management Department of Economics 173 Firms in Globalization: Evidence from China Supervisor: LI Yao / ECON Student: GUO Liangyu / ECOF YANG Jingdian / MAEC Course: UROP1100, Fall UROP2100, Fall Since its launch in 2013, China’s Belt and Road Initiative (BRI) has enabled the Chinese government to actively invest in nearly 170 countries globally with a focus on large-scale infrastructure construction projects and energy goods. This progress report presents how the Belt and Road Initiative affects China’s different types of trade and FDI patterns at aggregate and sector levels. We found that at the aggregate level, countries receiving a higher amount of FDI from China also have a higher level of trade flow with China, after controlling the time fixed effect and country characteristics. For the energy FDI and manufacturing FDI, both of them have a significant impact on aggregate trade after controlling for time fixed effect and country characteristics. However, as shown in different regressions we conducted, there is mixed evidence for the incremental impact of being an initially targeted BRI country on trade value. Firms in Globalization: Evidence from China Supervisor: LI Yao / ECON Student: HE Jiawei / ECON WANG Yingfan / MAEC Course: UROP1000, Summer UROP1000, Summer This article studies the changes and impacts of the China-United States trade war in the context of the global COVID-19 pandemic. We first selected the data of imports from China and the U.S. in the last twenty months and did descriptive statistics and analysis. Next, we predict that there is an inevitable link between the increase in tariffs and the import and export volume between the two countries and conduct calculations and analysis on a large number of data to test our hypothesis. Firms in Globalization: Evidence from China Supervisor: LI Yao / ECON Student: LEE Daye / MAEC OUYANG Yuxuan / MAEC Course: UROP1000, Summer UROP1000, Summer Innovation is widely regarded as one of the most substantial factors for companies to continuously operate and develop. Our research investigates whether credit constraints enhance or deteriorate the firms’ innovation. We use the firm-level production data, the annual surveys of Chinese manufacturing firms conducted by the National Bureau of Statistics of China (NBSC) in 2004 to capture firms’ innovation while we obtain factors to proxy credit constraints from Monova (2015) and Fan (2015). In this progress report, our main identification is that research showing the relationship between credit constraints and innovation is worthwhile.