©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.×Ø,,,,×Ø×ØF114141×ØA×Ø1000-6052(2008)01-0013-05,,,,,,,,,,,,,,,,,,,,,,(FDI),,,,,,,,,,,,,,,1.3120081©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.:,1,Q0C0,PdPwX,XTTp[1],Q1,X,YC1,,21,,Q0Q1Pw,C0C1,,[2]3.,,,(PTA)PTA,,3,Q0C0XXPdPw4120081©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(PTA),X,PTAPpta,Q1,C1,,,PTA,,,,X,X,XTp,Q2C2,,,,,PTA,XX,PeaQ3C3,,,,,,,,,,(FDI)KimuraAndo(2003),,,,,,,,,;,,,,,,,,,,,,,,,,,,,5120081©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(Ep)PXA,PXB,,,X,,SXBp,SEBp(E)SEBp(Ep),PXApPXB,,X,,,,,,,6120081©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(:):[1],[2],Y,:[1]ArndtS.,(2002)Productionsharingandregionalintegration,inT.Georgakopoulus,C.C.Paraskevopoulos,J.Smithin(eds.)[C],GlobalizationandEconomicGrowth,97-107.[2]ArndtS.,(2005)Cross2borderproductionsharingandexchangeratesinEastAsia[S],workingpaperinAPEA(Asia2PacificEconomicAssociation)conferenceJuly.[3]DeardorffA.,(2001a)FragmentationinSimpleTradeModels[J],NorthAmericanJournalofEconomicsandFinance,12,121-137.[4]DeardorffA.,(2001b)FragmentationacrossCones,inArndtS.andKierzkowskiH.(eds.),Fragmenta2tion:NewProductionPatternsintheWorldEconomy[C],Oxford:OxfordUniversityPress,35-51.[5]FeenstraR.C.,(1998)IntegrationofTradeandDisintegrationofProductionintheGlobalEconomy[J],Jour2nalofEconomicPerspectives,14(4),31-50.[6]Hummels,D.,J.Ishii,andK.-M.Yi,(2001)TheNatureandGrowthofVerticalSpecializationinWorldTrade,JournalofInternationalEconomics,54,75-96.[7]JonesR.,KierzkowskiH.,(2001)AFrameworkforFragmentation,inArndtS.andKierzkowskiH.(eds.),Fragmentation:NewProductionPatternsintheWorldEcono2my[C],Oxford:OxfordUniversityPress,17-34.[8]Kimura,F.andM.Ando,(2003)FragmentationandAgglomerationMatter:JapaneseMultinationalsinLatinA2mericaandEastAsia[J],NorthAmericanJournalofEco2nomicsandFinance,14,3(December),287-317.[9]Yi,K2M.,(2003)CanVerticalSpecializationEx2plaintheGrowthofWorldTrade?[J],JournalofPoliticalE2conomy111,52-102.Cross2borderProductionSharingandRegionalIntegrationinEastAsia:theroleofChinaTongJia2dongHuangChun2yuanAbstract:Thepaperexaminestheimplicationsofthisdevelopmentforofficialintegrationandconcludesthatitseffectsarepositiveforsingle2marketpolices,butnegativefortraditionalfreetradeareasandcustomsunions.Besides,market2orientedintegrationdiminishesthesensitivityoftradeflowstoexchange2ratechanges,whichhasinfluencesontheexchangeratepoliciesofthecountries.ThepaperalsoconsiderstheroleofChinainthesettingupofaregionalintegrationwithproductionsharing.Keywords:cross2borderproductionsharing,regionalintegration,exchangeratepass2through7120081