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China's breakneck economic growth has been accompanied by an expanding development finance agenda. Many have hypothesized that China is undermining the West's drive to promote good governance globally, and in Africa in particular, by predominantly distributing money to poorly governed countries. This paper explores whether the determinants of Chinese development finance in Africa differ from those of Western countries. It finds that Western countries send more development finance than China to better governed African countries—those with lower corruption levels, better democratic outcomes, and a better human rights track record (though only the latter two have a negative relationship with Chinese development finance in absolute terms). This paper also finds that bilateral trade and UN voting alignment have a stronger impact on China's development finance than that of Western countries and that China allocates more development finance than the West to richer and more resource-dependent African countries. [ABSTRACT FROM AUTHOR]

Purpose – This article aims to present a historical overview of the evolution of business ethics in China and highlights the ways in which its ethical structure lags behind its rapid economic expansion. Understanding Guanxi, the Chinese social network of reciprocal business relations common in Confucian cultures, has long been recognized as one of the major success factors when doing business in China (Hwang et al., 2009). Recognizing the significant impact of Guanxi and its influence on everyday dealings in China is, thus, crucial for Western firms. Whereas considerable research has dealt with the growth of Chinese industries in recent years, the key relationship between changes in its economy and shifts in Chinese business ethics has been neglected although it impacts the ways Westerners, in particular, both clinch deals and judge Chinese firms. The implications of this disparity for global business are discussed. Design/methodology/approach – The discussion draws on the academic literature and the researchers’ experience in how business and business ethics are conducted between Western and Chinese firms. This paper presents a content analysis of theoretical articles and compares them to conceptual and empirical approaches, with an emphasis on a pragmatic approach to fostering a better understanding of the evolution of Chinese business ethics and its implications on business practices. Findings – Maps the evolution of business ethics in China and need to adapt to an ever changing business environment. Originality/value – This study offers a new insight to the evolution of Chinese business ethics and highlights its importance in business interactions. It illustrates the co-evolution of business ethics in parallel with the advancement of the Chinese economy. This paper is the first paper that addresses the issue of the evolution and formation of Chinese business ethics and links it to economic progress and opening up to the West. [ABSTRACT FROM AUTHOR]