问答题 Two major themes are pursued．The first theme is that investment is notoniy the engine of economic growth in China but also the main source of technological progress，productivity growth and stmcrural change．In developing this argument，James Riedel，Jing Jin and Jian Gao provide in Chapter 1 a brief review of China’s economic reforms and their outcomes in the four economic sectors agriculture．industry， foreign trade and finance．They conclude that the financial sector is the weakest and the most crucial for sustaining growth in the future．In Chapter 2．reviewing recent studies of China’s growth，Riedel，Jin and Gao find that these have not been able to explain economic growth in China，because thev do not consider independent technological improvement over the past two decades．The authors thereflore challenge conventional growth theory，and argue that the function of investment is not iust to replace obsolete capital but more importantly to upgrade technology in the economy：technological change and investment are part and parcel of the same thing．Changing technology requires investment．and investmen tinevitably involves technological change．As a result，investment not only drives China，s economic growth but is also the main source of technological progress，productivity growth and structural change．This argument is probably the book’s most valuable contribution；it also serves as the foundation for the discussion of issues in Chinese financial sector in the rest of the book．