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韦德1946注册送18【ozueira.com】为您提供集团最新官方网站,更高级的VIP服务体验,更多的优惠活动,更快速的存取款时间,专属美女客服一对一服务,赶快注册游戏吧。宜春偾诒趴租售有限公司(原玉溪禄烟电子科技有限公司)成立于1992年,占地面积57590平方米,牛车水娱乐场官网其中生产厂房占地9624平方米,仓库面积占地7160平方米。固定资产5741万元,流动资产9448万元,干部职工共400人,工程技术人员63人。韦德1946注册送18,,,gavefullplaytoitscomparativeadvantages,an,,China,previouslyaclosedcountrywithsmall-sizedeconomyandtradefeaturingproducingprimaryproducts,hasexpandeditstradesc,Chinaisthel,Chinawastheworld’slargestrecipientof,,China’scurrency,Renminbi(RMB),willbeincludedintheSpecialDrawingRights(SDR)veringbothsituationsathomeandabroad,makefulluseofdomesticandinternationalmarketsandresources,soastoserveChina’-,theopening-uppolicyshou’sforeigneconomicrelations,,itscompetitivea,acountry’sresourceendowme,however,acquiredfactors,comparedwithcompetitiveadvantages,becomemoresignificant,likehumanresources,technology,industrialbase,infrastructure,system,enterprisecompetitiveness,theimplementationofgovernmentstrategyandpolicyetc.,,thepreviousproperdevelopmentstrategiesmayceasetobeeffectiveorevenhavenegativeeffects,,itisnecessarytoadjusttheopening-upstrategywiththetimes,,theChineseeconomyhasenteredtheNewNormal,wherethegoalandimpetusofeconomicdevelopmentarechangingandthenewdevelopmentstrategyguidedby“FiveDevelopmentConcepts”(innovated,coordinated,green,open,sharing)raisesnewrequirementsforopeningupsothatthemedium-highrateof’,,globaleconomicgove,China’sforeigneconomicrelations,especiallyitscomparativeadvantages,sandchallenges,,ChinaneeternalfactorsimpactingChina’opening-upstrategyisvitalfoomicgrowth,whichhingesonthenumber,,productionfactorsincludenotonlytraditionallabor,capitalandland,butalsotechnology,information,management,andsystem,actsonacountry’,suchasintroducingcapital,technology,management,,likeintroducingtalent,improvingmanagementandtechnology,uctionfactors,likeintroducingresourcesandproductionfactorsinneed,removingthedisadvantagesinproduction;orchangingtheproportionofproductionfactorsbytransferringlaborfromagriculturalsectorswithlowefficiencytoefficientindustrialandservicesectors,sothatlaborproductivitywillincreaseexponentially();orraisingtheefficiencyofreso,productionfactorsmaybereduced,suchasbraindrainandcapitaloutflow,,thequalityofproductionfactorsislikelytobelowered,,theefficiencyofresourceallocationmaybeaffected,suchasadversetradeterms,anddeterioratingindustrialstructureinducedbyinternationalcompetition,,illmanagementleadstoeconomicrisks,,therefore,,improp,withdifferenttheoriesofforeigneconomicrelations,economiesa,highlyprotectingthedomesticmarke,boththeUnitedStatesandGermanyhaveadoptedthestrategyofprotectinghomeinfantindustriesduringcertainperiods,,ifthereistoomuchprotectionorprotectionfortoolong,domesticind,mostofthemexperiencedfinancialcurrencycrisis,socialunrestand“middle-incometrap”.Atthesametime,economiesinEastAsialikeJapan,Singapore,SouthKorea,China’sTaiwan,andHongKonghavetakenthe“export-oriented”strategy,whichhasimprovedtheirinternationalcompetitiveness,preventedthemfrom“middle-incometrap”,’snationaldevelopmentstrategy,,themostimportantobjectiveand’stwo-gapmodelsuggeststhelackofcapitaland,Chinahaslearnedfromothernationsa,itcarriesouttheexport-orientedstrategyinlabor-intensiveindustrieswithcomparativeadvantages,andthestrategyofimportsubstitutionincapiteexportprocessingindustryoverseas,,Chinahasdevelopedlabor-intensiveprocessingexportindustrieshighlycompetitiveintheinternationalmarket,whichhassuccessfullysolvedtheshortageofforeignexchangethatimpedesindustrialization,,anewstageforChina’,,,,thedrivingforceforeconomicdevelopmenthasbeentransformedfromthenumberofproductionfactorstoinnovationandtheresultingoptimizedstructure.ZhangJunkuoThe15thCongressoftheChineseCommunistPartyexplicitlypointedoutthatinordertoadjustandimprovetheownershipstructureoftheChineseeconomy,"itisimperativet,assetreorganizationandstructuraladjustmentmaybecarriedouttostrengthenthekeysectorsandimprovetheoverallqualityofthestate-ownedassets.""Underthepreconditionthatwithpublicownershipasthemain-staythestatecontrolsthelifelineofthenationaleconomyandthecontrolandcompetitivenessofthestate-ownedeconomyisincreased,aproperreductionoftheproportionofthestate-ownedeconomywillnotlikelytoweakenthesocialistnatureofourcountry."Thestrategicadjustmentofthestate-ownedeconomy,whichinvolvesbothadvanceandretreat,isacorrectstrategicprincipleofutmostimportanceputforwardbythePartyCentralCommitteeafterearnestly,someprogresshasbeenmadeincarryingoutthestrategicadjustmentofthelayoutofthestate-ownedeconomy,especiallyin"freeingthesmallones".Butsomeconstraintsstillexistintheadjus,itisnecessarytotakefurthermeasuresonthebasisofaconscientioussummaryoftheexperiencetoensureoptedbythe15thCongressandovercometheideologicalbarrierstotheadjustmentofthelayoutofthestate-ownedeconomyTheoriginallayoutofthestate-ownedeconomywasformedundertheinfluenceoftheSoviet-stylesocialisttheories,whichregardedthes,stateownershipmustoccupyanabsolutelydominantpositionintheentirenationaleconomyand,withtheexceptionofsometradeswhichinvolvesmainlymanuallaborandcannotbeownedbythestate,thehighertheproportionofthestate-ownedeconomyis,,however,theerroneousnessofthesetheorieshasbecomeincreasinglyobvious,withtheadoptionofthemarketprportantcomponentofthesocialistmarketeconomy,,insteadofinallthesectors,thestate-ownedeconomyshouldoccupyadominantpositiononlyintheimportantindustriesandkeysec,thebasicframeworkforeconomicsystem,withpublicownershipasthemainstayandvariousformsofownershipdevelopingtogether,,somepeoplearestillobsessedwiththeoutdatedconceptthat"stateownershipisanadvancedformofpublicownershipandagoalpursuedbysocialism".Theydonotfullyrealizethegreatsignificanceofthedecisionmadebythe15thPa,thefinancialcapacityofthestateisunabletosupportthestate-ownedeconomywhichcoversatoowidespectrumandfindsitselftobefinancial,theresidentssavingsgrowyearafteryearand,alongwiththeotherfinancialassetsheldbythem,thetotalhasreachedeighttrillionyuan,e,allth,thestate-own,thenon-stateeconomyregisteredavigorousgrowth,whichnowcanreplaceorpartiallyr,itispossiblefortheincrementalinputsandstockassetsofthestate-ownedeconomytobepulledoutofsomeindustriesandtradesinaplannedmannerandflowtoandstrengthentheimportantindus,thestate-ownedcapitalandthenon-statecapitalcanreplaceandcomplementeachothertoincreaseChinasoverallnationalstrengthinabetterandfasterway.Ⅱ.Tofurtherdefinethestrategicpositionofthestate-ownedeconomyandthemodeofcontrolAtpresent,somepeopleregardtheadjustmentofthelayoutofthestate-ownedeconomyasapassiveexpedientmea,therefore,thatthosestate-ownedenterpriseswithpoorefficiencyandwithlittlehopetosurvivecanbesold,,guidedbythisidea,thestrategicadjustment,whichinvolvesbothadvanceandretreat,nedeconomy,wemustcorrectlydefinethepositionofthestate-ownedeconom,wecanfurtherdefineinwhichindustriesandsectorsthestate-ownedeconomyshouldoccupyamonopolyposition,inwhichindustriesandsectorsthestate-ownedeconomymuststay,andfromwhic,drivenbyself-interest,everyin,,underthepropertyrightsystemofthestate-ownedeconomy,thestate-ownedenterprisescan,theyalsofinditdifficulttocompletelyseparategovernmentfunctionsfromcorporatemanagementortotrulygiveenterprises,dents,thefunctionstofacilitatetheimplementationofthepublicpoliciesofthestate,thefunctionstosafeguardstatesecurityandth,thestate-ownedeconomycanbettersurviveandgrowintheimportantindusompetitiveareas.…Ifyouneedthefulltext,pleaseleaveamessageonthewebsite.。

    ,2015Itisimportanttofirmlyestablishandvigorouslyimplementthedevelopmentphilosophyofinnovation,coordination,greengrowth,opennessandfruit-sharing,acceleratetransformingagriculturaldevelopmentmode,andfosternewdrivingforcesforagriculturalgrowth.“China’sFoodSecurityFoodSafetyStrategySummit”attentionfromallwalksoflife,includingtheinternationalcommunity,andplayedasignificantroleindesigningChina’rtyofChina,heldinOctober2015,reviewedandapprovedRecommendationsforthe13thFive-YearPlanforEconomicandSocialDevelopment,theblueprintforChina’sdevelopmentinthenextfiveyears,particularlyfocusingonimprovingthequalityandefficiencyofdevelopment,andacceleratingtheestablishmentofthesystem,mechanism,andeconomicgrowthmodelthatguidethenewnormalinChina’,withthethemeof“AgriculturalDevelopmentModeTransformationGrowthEngineSuccession”,reflectstheguidelinesofChina’snewdevelopmentphilosophyduringthe13thFive-YearPlanPeriod,andconcentratesonthelinchpinsinChina’odsupplyinChina,whichhascha,China’spercapitashareofgrainis450kg,,storage,processing,anddistribution,,solidfoundationforthecountrytodealwiththechallengesbroughtbyreformandopening-up,andmaintainsoundeconomicandsocialorder,butalsohasgreatlycontributedtopovertyandhungeralleviat,Chinahasmadearemarkableachievementbecauseitsupportsonefifthoftheworld’spopulationwithonefourthoftheworld’,oodsafetyisweak,,theactualamountofwaterusedinmajorgra,,suggestingChina’,China’’saveragelevel,,landandsoilinChinahavebeenoverlydeveloped,ndenvironment,thebasistosustainagricultureanditsdevelopmentwillbedestroyed,an,thestatehasraisedthefloorpurchasepriceofriceandwheat,aswellasthetemporarypurchaseandstoragepriceofmaize,effectivelypromotinggrainoutputandfarmers’,nonetheless,,thebiggestconflictinthefoodmarketisthatdomes,pricesofprimaryagricuubstitutes,whiledomesticfoodwithahighcostispurchasedbythegovernmentwiththeaimtosupportfoodprice,resultinginthegrowthoffoodproduction,’sagriculturalpoliciestoperfectthepricingmechanismofagriculturalproducts,improvethesystemoffoodpurchaseandstorage,,andtheasymmetricinformationamongproducers,dealers,consumersandregulators,,withover200millionfarminghouseholds,morethan400,000foodfirms,andsome3millionfooddealers,,depressedconsumermarket,andcontinuousincreaseofproductioncost,somefoodenterprises,inordertomaintaintheirprofitlevel,havereducedtheireffortsinqualitycontrol,’sImportedFood2010-2014issuedbyGeneralAdministrationofQualitySupervision,InspectionandQuarantineofthePeople’sRepublicofChina,thenumberofunqualifiedfoodimportedfrom112countriesandregionsduringthatperiodwas1692,1857,2499,2164and3505batchesrespectivelyeveryyearduringthatperiod,offoodsecurityandfoodsafety,wemustactivelytakemeasures,firmlyestablishandvigorouslyimplementthedevelopmentphilosophyofinnovation,coordination,greengrowth,opennessandfruit-sharing,acceleratetransformingagriculturaldevelopmentmode,’smore,itisofsignificancetofocusonbothfoodquantityandquality,boththecurrentandlong-rundevelopment,bothdomesticmarketandinternationalmarketandresources,soastocomprehensivelyimprovefoodsecurityandfoodsafety.LiZhaoxiAfterthestate-ownedenterpriseshavebeentransformedintocompanies,contradictionsemergedbetweentheso-called"threenewhuis"(thegeneralmeetingofshareholders,theboardofdirectorsandthesupervisoryboard)andthe"threeoldhuis"(thepartycommittee,thetradeunionandtheemployeescongress).ThestickingpointisthattheprovisionsoftheLawontheState-OwnedIndustrialEnterprises(1988)concerningthepositionsandrolesofthetradeunionandtheemployeescongressintheleadershipoftheenterprisesaredifferentfromtheprinciplesofthecorporategovernancespecifiedbytheCompanyLaw(1993).Accordingtotheformerlaw,theemployeesofastate-ownedenterprise"havetherighttoparticipateinthedemocraticmanagementoftheirenterprise"while"thestateprotectsthemasterstatusoftheemployees".Theemployeescongressanditsstandingbody,thetradeunioncommittee,constitute"abasicvenueforanenterprisetoexercisedemocraticmanagementandabodyfortheemployeestoexercisetheirrighttodemocraticmanagement".UndertheCompanyLaw,however,acompanyshouldbemanagedbymanagersundertheguidingandsuprisesaretocontinuetobeimplementedinthesolelystate-ownedcompaniesandthestateholdingcompanies,,webelieve,thepositionandrolesoftheemployeesintheChinesesocietyandintheirenterprisesshouldbeco,thestatusoftheemployeesisofatriplenature:(1)theyarethemasterofourcountry;(2)theyareanimportantstakeholdertotheirenterprises:(3),themasterstatusoftheworkingclcongressandthetradeunioncommitteeinthesolelystate-ownedcompaniesandthestateholdingcompaniesshouldcontinuetoworkasbodiesfortheemployeestoexercisetheirrighttodemocraticmanagementarguethatChinaisasocialistcountryandthelaboringpeoplearethemasterofthecountry:thatbywayofbeingthemasterofthecountry,theemployeesshouldenjoythemasteroyeesinthepolitical,thelaboringpeoplearethemasterofChina,andthismasterspositionshouldbemanifestedintheirrighttothehandlingofstateaffairs,,theemployeesofthesocialistenterprisess,theproperti-ownedenterprisesbutalsothecitizensofthePeoplesRepublicofChinawhodonotw,nomatterwhetherheworksinanenterpriseorwhetherheworksinastate-ownedenterprise,acollectiveenterprise,aprivateenterpriseoraforeign-fundedenterprise,,regardingthepropertiesofthestate-ownedenterprisesasbelongingexclusivelytotheemployeesoftheseenterpriseshasundoubtedlyinfringedupontherighsresponsibilitysystemundertheleadershipoftheenterprisecommitteeelectedbytheemployeeswasacoshingofthe"GangofFour",inwhichtheemployeescong,thissystemwasfoundtohavemanyshortcomingsandwrnationally-acceptedmoderncorporatesystem,itisonlynaturalthatastandardcorporategovernancestructure,itisnotadvisabletotreattheemployeescongressasanorganfortheemployeestoexercisetheirman,theemployeesasamajorstakeholdershouldparticipateindecision-makingbyele,amajordevelopmentinwesterncorporatetheorieswasthatwhiletheseniormanagersofacompanyshouldbeaccountablechieflytotheshareholders,theyshouldalsoberesponsibletotheotherstakeholdersofthecompanies,includingtheemployees,creditors,suppliers,,mpany,themanagersofthecompanyshouldalsobeaccountabletoth,theemployeesparticipateinmakingmajoroperatingdecisionsfortheircompaniesandexercisesupervisionovertheseniormanagersbyelectingtheirrepresentativesintothesupervisoryboards(boardsofdirectors),000people,halfofthemembersofthesupervisoryboardshouldbeelectedbythepartiesrepresentingcapitalandtheotherhalfbytheemployees.…Ifyouneedthefulltext,pleaseleaveamessageonthewebsite.10-200米,’andacceleratingrebound.(1),theaveragenon-performingloanratio%.%,%higherthanin2013,,Chinahastosimultaneouslydealwiththeslowdownineconomicgrowth,makedifficultstructuraladjustments,,,itisimpossibletomaintainthenon-performingloanratiobelow1%,,14listedbanks,comparedwithonlythreein2013,hadanon-performingloanratioofover1%bytheendof2014,amongwhichAgriculturalBankofChina,%,%%,,ChongqingRuralCommercialBank,andShengjingBank,other18listedbankshadanincreasingnon-performingloanratioin2014,,ChinaEverbrightBank,AgriculturalBankofChina,ChinaMinshengBank,ShanghaiPudongDevelopmentBankandBankofChongqing,%.(2),t%,amongwhichChinaMinshengBank,PingAnBank,IndustrialBankandChinaMerchantsBankexceeded1%.Comparedwith2013,%%inAgriculturalBankofChina,PingAnBankandChinaMerchantsBank.(3),,the%,%,asfarasthespecificbanksareconcerned,14A-sharebanksexperiencedasharpincreaseinthemigrationratiofornormalloansmigrationratio,,,%,%,asforspecificbanks,thoughPingAnBank,ChinaMinshengBankandBankofChinaexperiencedafallingmigrationratioforspecial-mentionloans,other13A-sharebankssawasignificantincreaseinthemigrationratiofornormalloans.(4),theratiooflistedbanks,%,wasstillwaybelowthatofothermajoreconomiesandtheaverageofthe20largestbanksintheworld(seeTablebelow).。

    九五至尊官方网ByHeJianwu,DepartmentofDevelopmentStrategyandRegionalEconomyofDRCResearchReportNo115,2014(Total4614)In2010,thescaleofChinaseconomyexceededthatofJapan,becomingthesecondlargesteconomyintheworldandthelargestinAsia,andoneofthemedium-andh,itsdevelopmentisreflectednotonlyintheimprovementofitsownlevel,butalsointhefactthatithasalsobecomeanimportantsincreasingroleandinfluenceinglobaleconomy,thecorrectunderstandingandpublicizingofthepositiveroleofChinasdevelopmentintheglobaleconomyisnotonlyconducivetoimprovingthepositiveimageofChinaintheinternationalcommunity,butalsohasgreaitiveinfluenceofChinasEconomicGrowthSpeedsuptheChangeofthe"South-North"DevelopmentP,itisfoundthatthegloba,theproportionofGDPofdevelopedcountriestothatofdevelopingcountriesintheglobaleconomyremainedbasicallystable,withtheGDPo,theproportionofGDPofdevelopedcountriesintheglobaleconomyroseremarkablyfromlessthan80%tonearly85%.Inthiscentury,boostedbydevelopingcountries,especiallyChinasrapidgrowth,thesituationhasbeenreversed,withtheproportionofdevelopingcountriesbeginningtosoarfromabout18%%in2012,%%seconomyontheglobaleconomyisreflectednotonlyinthechangeoftheSouth-Northdevelopmentpattern,(2011),withthecontinuedriseofChinaseconomyandthedevelopmentofotherregionsinEastAsia,theglobaleconomiccenterofgravityisshiftingtotheeastatanacceleratedspeed,movingfromthemiddleofthesEconomicGrowthNotOnlyProvidesAHugeMarkettotheGlobalEconomy,ButAlsoSpeedsUpT,Chinasecseconomicdevelopmenthasprovidedhu,itsreflectedinthefollowingaspects:,fastindustrializationhassuccessfullyboostedChinasrapideconomicgrowth,,thedemandsforenergy,rawmaterialsandelectromechanicalequipmentgrowrapidly,greatlystimulatingtheexportgrowthofenergy,rawmaterialsandmachineryequipment,,China,andtheimportdemandsforhigh-techproduct,withChinaseconomicgrowth,themiddle-levelincomepopulationhasbeearketofiPhoneintheworld,with38%,sdevelopmenthaspromosopeningtotheoutsideworldhasnotonlyimproveditsownspecializationlevel,butalsopromotedtheimprovementofitstradepartnersspecializationlevel,andpropelledthedeepeningofthegloballabordivisionsyst,overthepast20yearsandmore,theverticalspecializationindexesofmajorAsianeconomieshaveallgoneup,indicatingthattheirspecializationlevelisimprovingandtheirlabordivisionsbeingdeepened(WTO,2011).Amongthem,Chinawitnessedthebiggestincrease,withitsverticalspecializationindexrisingfromabout8%in1985to37%in20081,,Chinasdevelopmenthasalsopro%,smore,,Chinahadbecomethefifthlargestbuyerofsstabledevelopmentisconduc,China,overthepast30yearsandmore,theannualaveragepricehikeofChina%%.Besides,overthepast30yearsandmore,Chinaseconomyhasmaintainedastableandrapidgrowth,playingtheroleof"stabilizer",toacertainextent,insuppressingthe,overthepast30yearsandmore,thefluctuationdegreeofChinaseconomyisgreatlylowerthanthatofmajordevelopedcountries,andisonlyhigherthanVietnaminallth,aftertheoutbreakofthefinancialcrisis,thecourseofrecoveryofglobaleconosEconomicGrowthtoGlobalEconomicGrowthInordertoworkoutthecontributionofChinaseconomicgrowthtoglobaleconomicgrowthinanall-roundway,,fromthehistoricalandglobalperspective,historicaldataisusedtoestimatethehistoricalcontributionofChinaseconomicgrowthtoglobalGDPincrement;ontheotherhand,basedonthecurrentfacts,transnationaldataandtheinternationalinput-outputmodelareusedtoanalyzetheboostingeffectofChineseeconomyontheeconomyofdifferentcountries.ZhangWenkui  sandthestateholdingcompaniesisnecessitatedbyvariousfactorsFirst,theoverlyextensivedistributionofthestate-ownedcapitalandtheholdingpositionofthestate-ownedcapitalinmostmajorenterprisesinvariousindustrieshaveresultedinaseriesofproblems,nthe"StrategicRestructuringofState-OwnedEnterprises(SOEs)",theverylimitedstate-ownedcapitalatthepresentisdifficulttosupportthecolossalstate-ownedeconomicsectorsandhasbeendistributedtoasmanyashundredsofthousandsofstate-ownedenterpriseslike"spreadingpepperpowder",,,000state-ownedenterprisesthathavecompletedcorporatetransformation,%amongtheseenterprises,%ofthetotal,%,%,%%.Theexcessivelyextensivelayoutofthestate-ownedeconomyandtheexcessivelylargeproportionofthestateequityhavemadeitd,562incorporatedcentralandprovinciallevelenterprises,t%,erimentontheestablishmentofmoderncorporatesystem,theirasset-liabilityratiowasstillashighas65%afterfouryearsofhardefforts,%es,thedeclineofasset-liabilityratioofthestate-ownedenterprisesbyeveryonepercentwillrequireaninputofRMB¥,weshouldcombinetheeffortsofincreasingassetsandreducingdebtswiththestrategicrestructuringofthestate-ownedeconomicsectorsandtransferthestate-ownedequitysharestothepublicandcorporateentitiessoastoutilizetherelativelyabundantsoci,Chinasreformisatacriticalstage,,liquidatingandregroupingthebadassetsofthebankingsystem,makingupthedeficiencyofthesocialsecurityfundandprovidingtheminimumlivingsec,thebalanceoftheChinesegovernmentdebtshasreachedaconsiderablyhighleveland,tdebtsoftheenterprisesormakeupthecapitalfundofthestate-ownedenterprisesthathavetobemaintainedThesefundswillnotonlyhelpimprovetheeconomicstructure,strengthenthekeyareasandrevitali,thefactthatthestateequitymonopolizesorconstitutestheoverwhelmingmajorityofthesharesofacompanyhasbecomeaseriousobstacletotheestabmandisestablishedondaymanagementrightoftheirenterprisesontheirbehalfandatthesametimeengagethedirectorstoexercisetheregularwh,theexcessiveconcentrationofthestateequityinamannerthatthepowersandfunctionsoftheownersareexercisedbytheadministrativeauthoritiesisevenmorelikelytoleadtoasituationinwhichtheshareholdersinterfereintheday-to-daydecision-makingorthecompanyis"controlledbyinsiders".Bothcasesaredetr,thephenomenonthatthestateequitymonopolizesorconstitutestheoverwhelmingmajorityofthesharesofthestate-ownedenterprisesthathavebeenincorporatedisverycommon,andmostoftheenterprisesconductingexperimentwithmoderncorpo%ofthe750companieslistedonthestockexchanges,thelargestshareholder(normallytheholderofstateshares)possessesequityfivetimesthatheldbythesecondlargestshareholder(normallytheholderofcorporateshares).Thisisanindicationthattheproblemofthelistedco,onepracticalandfeasiblemethodistoestablish,bysellingpartofthestateequityandintroducingnon-stateshareholdersthathavecloserinterestrelations,amechanismbywhichtheshareholders,…Ifyouneedthefulltext,pleaseleaveamessageonthewebsite.ByHeJianwu,DepartmentofDevelopmentStrategyandRegionalEconomyofDRCResearchReportNo115,2014(Total4614)In2010,thescaleofChinaseconomyexceededthatofJapan,becomingthesecondlargesteconomyintheworldandthelargestinAsia,andoneofthemedium-andh,itsdevelopmentisreflectednotonlyintheimprovementofitsownlevel,butalsointhefactthatithasalsobecomeanimportantsincreasingroleandinfluenceinglobaleconomy,thecorrectunderstandingandpublicizingofthepositiveroleofChinasdevelopmentintheglobaleconomyisnotonlyconducivetoimprovingthepositiveimageofChinaintheinternationalcommunity,butalsohasgreaitiveinfluenceofChinasEconomicGrowthSpeedsuptheChangeofthe"South-North"DevelopmentP,itisfoundthatthegloba,theproportionofGDPofdevelopedcountriestothatofdevelopingcountriesintheglobaleconomyremainedbasicallystable,withtheGDPo,theproportionofGDPofdevelopedcountriesintheglobaleconomyroseremarkablyfromlessthan80%tonearly85%.Inthiscentury,boostedbydevelopingcountries,especiallyChinasrapidgrowth,thesituationhasbeenreversed,withtheproportionofdevelopingcountriesbeginningtosoarfromabout18%%in2012,%%seconomyontheglobaleconomyisreflectednotonlyinthechangeoftheSouth-Northdevelopmentpattern,(2011),withthecontinuedriseofChinaseconomyandthedevelopmentofotherregionsinEastAsia,theglobaleconomiccenterofgravityisshiftingtotheeastatanacceleratedspeed,movingfromthemiddleofthesEconomicGrowthNotOnlyProvidesAHugeMarkettotheGlobalEconomy,ButAlsoSpeedsUpT,Chinasecseconomicdevelopmenthasprovidedhu,itsreflectedinthefollowingaspects:,fastindustrializationhassuccessfullyboostedChinasrapideconomicgrowth,,thedemandsforenergy,rawmaterialsandelectromechanicalequipmentgrowrapidly,greatlystimulatingtheexportgrowthofenergy,rawmaterialsandmachineryequipment,,China,andtheimportdemandsforhigh-techproduct,withChinaseconomicgrowth,themiddle-levelincomepopulationhasbeearketofiPhoneintheworld,with38%,sdevelopmenthaspromosopeningtotheoutsideworldhasnotonlyimproveditsownspecializationlevel,butalsopromotedtheimprovementofitstradepartnersspecializationlevel,andpropelledthedeepeningofthegloballabordivisionsyst,overthepast20yearsandmore,theverticalspecializationindexesofmajorAsianeconomieshaveallgoneup,indicatingthattheirspecializationlevelisimprovingandtheirlabordivisionsbeingdeepened(WTO,2011).Amongthem,Chinawitnessedthebiggestincrease,withitsverticalspecializationindexrisingfromabout8%in1985to37%in20081,,Chinasdevelopmenthasalsopro%,smore,,Chinahadbecomethefifthlargestbuyerofsstabledevelopmentisconduc,China,overthepast30yearsandmore,theannualaveragepricehikeofChina%%.Besides,overthepast30yearsandmore,Chinaseconomyhasmaintainedastableandrapidgrowth,playingtheroleof"stabilizer",toacertainextent,insuppressingthe,overthepast30yearsandmore,thefluctuationdegreeofChinaseconomyisgreatlylowerthanthatofmajordevelopedcountries,andisonlyhigherthanVietnaminallth,aftertheoutbreakofthefinancialcrisis,thecourseofrecoveryofglobaleconosEconomicGrowthtoGlobalEconomicGrowthInordertoworkoutthecontributionofChinaseconomicgrowthtoglobaleconomicgrowthinanall-roundway,,fromthehistoricalandglobalperspective,historicaldataisusedtoestimatethehistoricalcontributionofChinaseconomicgrowthtoglobalGDPincrement;ontheotherhand,basedonthecurrentfacts,transnationaldataandtheinternationalinput-outputmodelareusedtoanalyzetheboostingeffectofChineseeconomyontheeconomyofdifferentcountries.韦德1946注册送18重合同守信誉企业市级明星企业,:,bringingwithitaconstantlyhighCenteroftheStateCouncil(hereinafterreferredtoastheResearchGroup)basedonthesixthnationalcensusdata,anaveshousingguaranteesystemhasformedandkeptimprovingamidstcont,theacceleratedconstr,Chinahadaddressedthehousingneedsofanaccumulativetotalof31millionurbanhouseholdsbyofferingin-kindbenefits,%ructionduringthe12thFive-YearPlanperiod,,%,thegovernmentwillplayamorepos,despitecontinuouslyimprovedurbanre,thoughtotalurbanhousingsupplyhasincreased,censusdata,(flatswithbothtoiletsandkitchens)in2010(mosthouseswithoutindependentkitchensandtoiletswerebuiltintheperiodofthe1950sto1970s).Second,,,thereisunevenhousingdistributionamongurbanhouseholds:,since2003,,197yuanpersquaremeterin2003toRMB5,850yuanpersquaremeterin2013nationwide,%.Suchtr,higherincomeforurbanresidents,householdsfissionandincrease,governmentspolicyoptionofboostingrealestatesectorandgrowingdemandforinvestmentandspeculationinsomeperiodoftime,allconstitutefactorspropellingrapidurbanhousingpricerise(Figure2Figure3).,,privateenterprisesaccountforthemajority,%ofallcompaniesinthesurvey;ifgroupedbyscale,smallfirmswithlessthan500employeesaccountforthemost,%ofthetotal;ifgroupedbyexportdestination,exportersorientedtoEurope,otherregions,US,%,%,%%,respectively;ifgroupedbyindustry,enterprisesinfood,mechanicalequipment,%,%%,,%,whichranksthetopintermsofthenumberoffirmsinthesurvey;firmsinJiangsuProvincefollownext,%.hesurveyresultsandcomparisonwiththeresultsfromthesurveysinthisspring(fortheperiodofJantoMay,2015)andlastfall(fortheperiodofJantoOct,2014),severalfeaturesinexportgrowthofthesurveyedcompaniesfortheperiodofJantoOctober,ievingincreaseinexportThesurveyresultsshowthat13%ofthefirmshaveexportgrowthfromJantoOctoberthisyear(includingonegroupwithgrowthrateof5%to19%,andanothergroupwithover20%growth,respectively);36%ofthecompaniesmaintainbasicallyunchangedgrowth,while51%seeadeclineinexports(includingonegroupwithadeclineof5%to19%,andanotherwithadeclineofover20%).Comparedwiththeprevioustwosurveys,muchmorecompaniesreportdeclinedexportsinthissurveythaninlastfallandthisspring,andmuchfewerreportexportgrowththaninlastfallandthisspring;SimilarnumberofcompanriodofJanuarytoOctober,u%medium-sizedcompaniesseeexportgrowthintheperiodofJantoOctoberof2015,whichisbithigherthanthepercentageofsmallexporters;%ofthemedium-sizedcompaniesseedeclinedexports,,muchfewersmallandmedium-sizedcompaniesseeexportgrowththanthoseinthesurveysoflastfallandthisspring;muchmoresmallandmedium-sizedcompanieshavedeclinedexportthanthoseinthesurveysoflastfallandthisspring;thenumberofsmallfirmsreportingunchangedexportisslightlylowerthanthatinlastfallandthisspring,whilethenumberofmedium-sizedfirmsreportingu,theexportsituationforthesmallandmedium-sizedcompaniesinthissurveydeteriorates,%ofthecompaniesinmetalandmetalproductindustryseeexportgrowth,apercentagelowerthanotherindustries;%ofthecompaniesinthisindustryseedeclinedexports,,muchfewerfirmsinallindustriesseeexportgrowththanlastfallandthisspring,andm,otherBRICScountriesandJapanhavearelativelygreaterstressofdeclinedexportsAsfewcompaniesexportingtoASEAN,ChinaHongKong,ChinaMacao,ChinaTaiwan,andKoreaareincludedinthissurvey,,ourfocusofcomparisonisoncompaniesexportingtoEurope,otherBRICScountries,,%,%,%ofthecompaniesexportingtoEurope,otherBRICScountriesandJapanreportrespectivelythattheyhaveanincreaseinexports,whichallarelowerthanthepercentageoffirmsexportingtotheUS;%,%and55%firmsexportingtoEurope,otherBRICScountriesandJapanreportrespectivelyadecreaseinexports,,fewerfirmsreportexportgrowthinallmarketsthanthisspring,whilemoresurveyfJantoOctoberof2015,%ofthecompaniesseeariseorasharpriseinthepricesoftheirexportproducts,bothbeinglowerthanthepercentageinlastfallandthisspring;%ofthefirmsreportstableprices,higherthanlastfallandthisspring;%ofthefirmsreportapricedecline,,ll,,intheperiodofJantoOctoberthisyear,%ofthefirmsreportahighprofitrate,whichisalowerpercentagethanlastfallandthisspring;%oftherespondentssaytheymaintaintheirprofitrateatsomewhatlowandverylowlevels,whichisasmallerpercentagethanthatinlastfallandthisspring;%ofthecompaniesreportabreak-evenperformance,%saytheysufferaloss,eyshows,%ofthecompaniesreporttheyhavea“sharprise”,a“slightrise”inexportordersintheperiodofJantoOctoberthisyear;%reporttheyhavea“slightdecline”anda“sharpdecline”,muchfewerfirmsreportanincreaseinexportorders,andmuchmorereportadecreaseinexportorders,whichshowsthedeterioratingsituationofexporters’,%,;%,,whichindicatesatoughersituationforsmallfirmsinthefuture.,’sCross-BorderE-CommerceAsanewbusinessform,cross-bordere-commercehasseveraladvantagesincludinglowerentrythreshold,fewerintermediaries,lowercostandshortertransactioncycles,whichcanhelpdomesticbusinessesreducethecostininternationaltradeandfacilitateth,China’’sE-CommerceMarketDataMonitoringreleasedbyChinaResearchCenterofE-CommerceshowsthatChina’,%.Ofthetotaltransactionvolume,%%respectively,’senterprisesaremainlyconsumergoods,includinggarments,accessories,,skincareproducts,babyandmaternityproducts,luxurygoods,fashionclothes,electronicconsumergoods,,China’scross-bordere-commercecanbecategorizedintocross-borderB2Btrade(e-commercetransactionsbetweencompaniesinforeigntrade),cross-borderB2C(business-to-customerretailing)businessstartedonthefollowingmajore-retailingplatforms:Tmall,Suning,Yihaodian,,’sSingles’Day()in2014,businessesandconsumersof217countriesandregionsconductedtransactionsonAlibaba’splatform,whichindicatescross-,cross-borderB2BhasbeendominantinChina’scross-bordere-commerce,%rmsasAlibaba,DHgate,GlobalSources,Made-in-China,,,inthefuture,cross-borderB2Bbusinesswillmainlyinvolvematchingi’sEconomicTransformationandUpgradingThedevelopmentofcross-bordere-commercecannotonlyboostthegrowthofChina’sinternationaltradeandnationaleconomy,butalsopromotesthetransformationandupgradingofChina’’seconomictransformation,,developingcross-bordere-commercecanhelpChina’senterprise“InternetPlus”tics,China’,theycannotonlyhaveabetterandtimelyknowledgeofthedevelopmenttrendintheinternationalmarket,butalsounderstandandsatisfycustomers’,andmake“Made-in-China”and“ChinaService”,developingcross-bordere-commercecanfacilitatethetransformationandupgradingofChina’,overseasimporterstendtopurchaseinsmallandmediumvolumesinsteadoflargeones,,large-volumetransactionsincontainersoftenseenintraditionalforeigntradearegraduallyreplacedby“fragmented”t,expandingandpromotingapplicationofe-commerce,China’sexportenterprisesareabletoadapttothenewdevelopmenttrendoftheinternationalmarketandcultivatenewadvantagesofChina’,developingcross-bordere-commercefacilitatesthecultivationofbrandsofChina’,enableslargenumberofChina’senterprisestosteptothefront,(OEM)’“smallandcompetitive”’-commerceInordertosupportthedevelopmentofcross-bordere-commercewhichisanewformofcommercialactivity,GeneralAdministrationofCustomsofChina(GACC),GACChasstartedpilotworkinsomecitieswithenoughcross-bordere-commerceactiviti,theGeneralOfficeoftheStateCouncilforwardedOpinionsonImplementingRelevantPoliciestoSupportCross-BorderE-CommerceRetailExportjointlyissuedbyninedepartmentsincludingMinistryofCommerce,NationalDevelopmentandReformCommission,MinistryofFinance,thePeople’:toestablishanewtypeofcustomsregulatorymodelforexportbye-commerceandrecordthedatainaspecialprogram;tosetuparegulatorymodelfore-exportinspection;tosupportforeignexchangecollectionandsettlementofe-exportingindustries;toencouragebankinginstitutionsandpaymentagenciestoprovidepaymentservicesforcross-bordere-commerce;toimplementtaxpoliciessuitablefore-export;,includingShanghai,Chongqing,Hangzhou,Ningbo,Zhengzhou,GuangzhouandShenzhen,areencouragedtoactivelyandeffectivelypromote,“personalpostalarticlestax”,equivalenttopersonalarticles,andareeligibleforthewaiverof“tariffplusvalue-addedtaxplusconsumptiontax”,inJuly2014,GACCapprovedthemodelofbondedimportinthisindustrybyissuingAnnouncementonIssuesConcerningtheRegulationofGoodsandArticlesEnteringandExitingChinathroughCross-BorderTra,theStateAdministrationofForeignExchangeraisedtheupperlimitofasingletransactionincross-bordere-commercefrom$10,000to$50,,inordertosupportcross-bordere-commerce,theGeneralAdministrationofQualitySupervision,InspectionandQuarantine(AQSIQ)issuedOpinionsonDeepeningtheReformoftheRegulatoryModelofInspectionandQuarantine,,theStateCouncilreleasedGuidingOpinionsonPromotingSoundandRapidDevelopmentofCross-BorderE-Commerce,focusingonprovidingsolutionstothepbordere-commerce,topromoteimproveregulatorypoliciesandmeasuresofinspectionandquarantine,andtoprovidepositivefiscalsupport,soastofacilitateprocedure-baseddevelopmentofcross-bordere-commerce.ByXuHongqiang,,2015ShenzhenandHo,tioninscienceandtechnology,theconstructionofShenzhen/HongKongInnovationCircleandtheworld-classtechnologyinnovationcenterwillprovidenewandsustainableincentivestotheeconomicdevelopmentinthetwocitiesaswellasintheregion,upliftingChina’/HongKongInnovationCircleDrivenbytheneedforinnovationandaimingatdevelopingtheworld-classtechnologyinnovationcenter,Shenzhen/HongKongInnovationCircleispromotedbythegove,,highlyaggregatedregionalinnovationsystemandindustrialagglomerationwhichwilllead,,itmeansthatthroughcoordinatingthemanagementofinnovationresources,ShenzhenandHongKongwillimplementfavorablepoliciesfortechnologicalpersonneltofacilitatetheircross-borderwork,lifeandactivitiesinanattempttoshareinnovationresourcesinresearchworkforce,funds,preferentialtaxpolicies,markets,technologyinnovation,pushforwardtheupgradingofindustrialandeconomicstructureofShenzhen,HongKongandthePearlRiverDelta,/HongKongInnovationCircleBasedonthefollowingthreereasons,itisofgreatstrategicsignificancetobuildShenzhen/,facingeconomicrestructuring,,domesticeconomyisinadesperatenee,’seconomicstructureandincreasetheindustrialcompetitivenessofthePearlRiverDeltaAfter30yearsofdevelopment,Shenzhenhasmadegreatachievementsineconomicconstruction,rankingthe4thineconomicscaleamonglargeandmedium-sizedcitiesinmainlandChina,onlynexttoShanghai,Beijing,,intheprocessofrapideconomicdevelopment,Shenzhenisalsofacndenvironmentalcapacity,relativelylagging-behindsocialcon,ShenzheninitiatedthestrategicconceptionofconstructingtheBayAreaeconomywithafocusoncreatingBayAreaindustrialclustersofTaiShanBay,ShenzhenBay,DapengBayandDayaBay,aneffortofwhichresultsinthegradualformationofaregionalinnovationsystemmainlybasedonGuangzhou,/HongKongInnovationCircleandmakingthescientificandindustrialadvantagesofthetwocitiescomplementarytoeachotherwillpromotethetransformationofShenzhen’seconomicstructurea,pushforwardtheconstructionofregionalinnovationsystem,andrea’sadvantagesintechnologicalresources,andbringinnewdrivingforcesforecono/HongKongInnovationCirclewillhelpmakefulluseofsuchadvantages,turnthemintoindustryandbusinessopportunities,(GII)jointlyissuedbyCornellUniversityintheUnitedStates,theEuropeanInstituteofBusinessAdministration(INSEAD)andtheWorldIntellectualPropertyOrganization(WIPO)showsthatHongKonghasalwaysbeenamongthetopregions,,duringtherecentfouryears,HongKonghasexperiencedadecliningtrendonthelist,indicatingthatHongKong20108月通过ISO9001:2000国际质量管理。

    我公司以ByLuoYuze,,2015WithgreatsignificanceforChinatobuildanewtypeofopeneconomysystem,’,withtheinflowofforeigncapital,equipment,technology,talentsandmanagementexperienceviaopening-uptotheoutsideworld,Chinahasmaderemarkableachievementsineconomicdevelopment,,influencedbysuchfactorsasregionalconditions,resourceendowmentanddevelopmentstages,China’sopening-upischaracterizedbydisharmonyandimbalanceof“highspeedintheeastbutlowinthewest”,and“strongmomentuminthecoastalareasbutweakintheinlandareas”.Aimingatconstructinganewtypeofopening-upandcooperationpatternfeaturingeast-westinteraction,north-southconnectivity,coordinateddevelopmentofthecoastalandinlandareas,andintegrationofdomesticandoverseasdevelopment,theBeltandRoadInitiativeprovidesacomprehensivestrategicfoundationforChinatooptimizethespatialallocationofeconomicactivities,connectdo,manyfactorsinvolved,geopoliticalcomplication,imbalancedeconomicdevelopmentandculturaldiversity,theBeltandRoadInitiativecallsforacompletepolicysupportsystemfromthegovernmentsoastofacilitateenterprises’internationalcooperationvia“GoGlobal”rward,theBeltandRoadInitiativehasreceivedactiveresponsesfrommorethan60countriesandregions,becomingthemajorconsensusofthec,thereareinevitableproblemsandchallenges,ingtheirpoliticalandsocialtransformation,,culturalandsocialconflictsintertwinedwithoneanother,,,theMiddleEast,CentralAsiaandSouthAsiaarecalledStrategicArcofInstability,,Chinahasactivelypromoted,withsometerritorydisputesunsettled,therearestillprominentproblemsandconflicts,’sinternationalstatusfurtherimproved,,thedevelopmentoftherelationshipbetweenthetwomajorcountrieswillhavegrowingimpactsonthisregion’uctureisthemainbottleneckthatconstrainsthe,ofthe54countrieswithdataforcompetitiveness,only4(Singapore,theUnitedArabEmirates,CroatiaandSlovenia)haveahigherinfrastructur(ADB),thatbetween2010and2020,Asia’sinfrastructureinvestmentdemandis$800billion,ofwhichonlyabout$20billioncanbeprovidedasloansfromADB,dRoadCountriesDuetothedifferencesineconomicdevelopmentlevel,allocationofeconomicactivitiesandpopulationdensityingeographicalareas,thecountriesinCentralAsiawithsparselypopulatedareas,,itismostlylikelythatthebestchoicefortheregionmaynotbethebestoneforaparticularcountry,,theinternationalinfrastructureconstructioninvolvesconflictofinterests,,inmanycases,,ooperationLaggingBehindSevereobstaclesarefoundintradeliberalizationandinvestmentfacilitationinmanycountriesduetounsoundandunstablelaws,lowconstructionleveloffreetradezone,manytradeandinvestmentbarriers,suchasstricterlicensesystem,non-unifiedcustomsproceduresanddocuments,inconsistentstandardsandregulationsforinfrastructureconstruction,,eitherlacksmajorcountries’leadershipandstrongpush,orfailstocoverallareasorinvolveslowlevelcooperation,startfortheconstructionoftheBeltandRoad,,“VisionandActionsonJointlyBuildingSilkRoadEconomicBeltand21stCenturyMaritimeSilkRoad”hasbeenpublished,becomingtheguidingdocumentforthisarea’,influencebro,grandplansforregionalcooperationwereputforwardbefore,suchastheInfrastructureDevelopmentPlanforAsianLandTransportproposedbytheUnitedNations’EconomicandSocialCommissionforAsiaandthePacificin1992andtheplantobuildapan-A①proposedinOctober,2010byASEAN,well-knownforitsenforcement,ltilateralcooperation,apartfromaleadershipplayer,itisalsoamusttohaveagoodtop-leveldesign,doanoverallplanning,setupcorrespondingmechanism,poolallkindsofresourcesandmobilizeenthusiasmandinitiativeofallparties.、韦德1946注册送18用户至上MGBBIN明星97Note:Someregions(exceptforWenzhou)ofZhejiangProvinceinitiatedpilotprogramsofprivatecapitalmanagementcompaniessinceSeptember2012,suchasCixiCity,whichissuedtheTentativeMeasuresforManagingPilotServiceCompaniesofPrivateCapitalManagementinCixi(,issuedbyCixiGovernmentOffice[2012]).Source:,withtheindustrialscaleofShandongProvincealreadyaccountingforabout80%ofthenation’stotalThereareremarkableregionaldifferencesintheprogressofadvancingthepilotprogramsofprivatecapitalmanagementcompanies(Table2).Amongalltheareas,ShandongProvincewitnessesafastgro,thenumberofprivatecapitalmanagementinstitutionsofShandonghasreached601,,%%fromtheyear2013,%%,respectively,ofthenumberofsmallloancompaniesandregisteredcapitalinShandongoverthesameperiod,%%%ofnation’stotalintermsofitsnum,itsnumberofinstitutionsandregisteredcapitalreached77and6billionyuan,,areaswithearlierlaunchthanYunnan,likeWenzhouofZhejiangProvinceandQuanzhouofFujianProvince,PilotAreasGuoLihongInourdiscussionaboutthemechanismforventurecapital,ecapitalandtheemergenceofvutinChinabythesamecompanyunderthecompanysysteminmostcases,thetwo,however,stayatdifferentlayersafterall,,,venturecapitalmakesup30percentoftheprivatecapitalmarket,whilethepriva,theproportionstakenupbyindividualsandfamilieshavecomedownfromthetoptothebottom,,whichgivetopconsiderationtosafety,,itisnecessarytonoticethatbothpensionfundsandinsurancefundsinourcountryareState-owned,,thesefundscanoperatemarket,atleastoneofthefollowingpreconditionsisnecessary:eitherthesenon-bankingfinancialinstitutionsareopentothegeneralpublic,orthemanagersoftheseinstitutionscanachievesuccessatthessCongresshasnowstarteddraftingoftheLawonInvestmentFundsandwilltrytopromulgateitbeforetheconclusionofthetermoftheNinthNationalPeople,ventu,however,itwilldependontheachievementsofthesectorofventurecapitaltodrawaconclusionw,therealisticsourceofventurecapitalintheimmediatefuturewillmainlybethatofgovernmentcapitalandoverseascapital,velycomplete,toexerciseself-disciplineinaccordancewithlawandtoestablishbusinessoncredibilityisaself-evidentaimofallkindsofeconomicactivities,dtoregisterwiththeAmericanSecuritiesTradingCommitteeandthatcanbetrade,,themotherbodyofNASDAQ,isnotagovernmentorgan,butsimplyalegalpersonbodysetupbysecuritiescompaniesandt,heM,however,governonlysecuritiesinvestmentfundsthat"specializeintheinvestmentofstocks,bondsandotherfinancialtools",itisstipulatedintheCompanyLawthatapartfrominvestmentcompaniesandholdingcompaniesdesignatedbytheStateCouncil,theaccumulativeamountofinvestmentbyacompanyinothetralCommitteeoftheCommunistPartyofChinainitsDecisionontheReformoftheScientificandTechnicalSystemthat"investmentfundsfornewundertakingscanbeestablishedtosupporthi-techdevelopmentthatchangesrapidlyandinvolvescomparativelybigrisks,"andthedirectivegivenbytheStateCouncilin1991intheProvisionalRegulationsonSomePoliciesConcerningState-levelHi-techIndustrialDevelopmentZonesthat"departmentsconcernedcanestablishventurecapitalfundsinhi-techindustrialdevelopmentzonesforuseetupventurecapitalcompanies."Viewedasawhole,thefairlyweaklegalbasisandextremeambiguityofmarketaccessconstituteoneofthemajorobstacleshinderingtheprosperityofventurecapital....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.Source:ChinaStatisticsDigest:1999Inthe1990s,theoutputshareofthetertiaryindustryfellagainstthatofthesecondaryindustry,andboththeoutputandemploymentshareofthetertiaryindust"oldproblems":Firstly,thelaborforceofthepnwide,itusuallycannotcreatesmuchspaceforthegrowthofthetertiaryindustryasinthecasewscalereductionofemploymentopportunitiesoverthepasttwoorthreeyearshaveactuallyindicatedthatthelackofsupportofthetertiaryindustrywindustriesistheflowoffarmersintotheurbanareasinsteadofthemodeof"departurefromthesoilwithoutleavingthehometown".Secondly,thehighvalue-addedtertiaryindustry(suchasfinance,insurance,telecommunicationsandmedia)failedtoopenwidertonon-state-ownedenterprises,,thenewlaborforceemployedbythetertiaryindustrywasmainlyconcentratedincommerce,cateringandentertainmentsectors,,afurtherexaminationofthepaceofurbanizationoftheruralpopulationsincethe1990srevealedthatwhentheurbanizationprocessduringthisperiodshouldhavebeenaccelerateditactuallysloweddowncomparedwiththe1980s:%ofthetotalpopulationin1998,4percentagepointsupover1990,%between1990and1998,%between1994and1998,%between1980and1988,%growth:first,laborproductivityisincreasedaftertheruralpopulationisshiftedfromthelocalprimaryindustrytothesecondaryandtertiaryindustriesinurbanareas;second,theconsumptionofrurallaborersishigherthanthatwhentheyliveintheruralareasbecausetheirincomeincreaseswhentheyhavejobsinurbanareas;third,thereareusuallyagglomerationeconomiesinurbanareaswherevariousfactorsofproductionarecongregated;fourth,thosefarmerswhostillstayinruralareascangivefullplaytoateconomicdevelopmentisaprocessofurbanizationoftheruralpopulationoverquitealongtime,aprocessinwhichthesecondaryandtertiaryindustriesinurbanareasabsorbthesurplusrurallaborfor,,,,,,,dconsumptionlevelinthe1990sbyshiftingfromthepryaffectedthepaceofeconomicgrowth....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.、DVOR,dernizationThereis,publicpolicyevaluationisaseriesofappraisalandjudgmentactivitiesofpolicysystem,process,qualityand,makepublicpolicymorescientificandpractical,,withthedevelopmentofmodernscientificmethods,publicpo,somedevelopedcountriesandinternationalorganizationsbegantoimplementpublicpolicyevaluationinabroadrange,,,,thereh(atconstant2005prices),theglobaltotaleconomicoutputreached$,anditincreasedto$,representingagrowthofover60%,%intheGDPin1990,%’%initsGDPin1990,whilein2013,%.Allthesechangesindic,withtheincreasinglycomplicatedeconomicdivisionoflaborandsocialformation,,socialconstruction,regionalrural-urbancoordinateddevelopment,environmentalgovernance,newpolicychallengesemergesuccessivelylikeclimatechange,internetcrimes,terrorism,culturalconfrontation,,whenmakingpublicpolicy,itisnecessarytoconsidermorecomplicatedfactors,,historical,culturalandtraditionalfactorsshouldbetakenintoconsideration,whilepracticalci,publicpolicycannotbemademere,effective,,publicpol,,administrativedepartmentsalwayshavenesso,itisnecessarytoincludepolicyevaluationduringtheimplementation,’,allparticipantsengagedingovernancewillhaveopportunitiestofullyexpresstheirviews,communicateandcoordinateeffectivelysoastobalancedifferentinterests,,policyevaluationcanalsoimprovetheabilityuationThediversityandvarietyofpublicpolicyaswellasthecomplexityoftheinterestsinvolve,legislativeandjudicialorgans,butalsoallsortsofthinktanks,socialorganizationsandmassmedia,,governmentthinktanks,asakindofspecialinstitutions,boastingmanyadvantages,,becauseofitsclosenesstodecisionmakersandalsoindependencefromothergovernmentaldepartments,governmentthinktankshavetheadv,governmentthinktankscanbetterunderstandtheintentsandprocessofpolicymaking,especiallyunderstandt,governmentthinktanksneithermakethepolicy,ntorcomprehensiveadministrativedepartments,governmentthinktanksarenotonlyabletobedetachedfrompolicymakingandimplementation,,entrustedbythestate,fundedbythepublicfinance,evaluationdonebygovernmentth,policyevaluationrequirescomplicatedprocessofanalysis,studyandevaluation,,,in2014,NewYorkTimespublishedaseriesofreportsbyBrooksWilliams,anAmericanscholar,ington,DCoftheUS,includingBrookingsInstitution,CenterforStrategicandInternationalStudies,AtlanticCouncil,acceptedover$,governmentthinktanks,entrustedbythestate,unrelatedwiththeevaluatedprojectsintermsofinterest,andstablyfundedbythepublicfinance,ntheobjectivityofevaluation.Thesurveyfindsthatthereisasignifi,enterprisesintheeastha,lar,state-ownedenterprises,state-controlledcompaniesandforeign-investedcompaniesenjoyrelativelybetterbusiness,whileprivateenterprisesseerelativelyworsebusiness(seeTable1).Withregardtoindustry,relativelybetterbusinessperformanceisidentifiedintheproductionandsupplyofelectricity,heatingpower,gasandwater,informationtransmissionsoftwareandinformationtechnologyservices,rentalandleasingandbusinessservices,manufactureofpharmaceuticals,electronicequipment,instruments,,respondentsreporting“good”businessareover25percentagepointsmorethanthosereporting“bad”,chemicalfibers,“good”businessareover20percentagepointsfewerthanthosereporting“bad”,andprofitsarebasicallystableInthesurvey,comparedwith2013,%ofrespondentsreporta“decrease”inthequantityoftheiroutput(services);%notean“unchanged”quantity,%seean“increase”inoutput(services).Accordingtothesurvey,42%ofrespondentssaytheircurrentsales“decrease”;33%report“unchanged”sales,and25%reportan“increase”es“decrease”“increase”,respectively,whichisclearlybetterthantheresultinthefirsthalfof2014butstillworsethantheresultof2013(seeTable2).Table2CurrentOutput(Services),SalesComparedwith2013(%),Chinahasmadesignificantprogresstowardsfinancialsectorderegulationvialiberalizingbanklendingrates,expandingtheQFIIquota,increasingtheflexibilityoftheexchangerate,,includingbanklendingratesandexchangerates,arenowclosermarketequilibriums,andmarketm,Chinatructuralimbalancesduetooverregulations,Chinaneedsto:1)removecontrolsondepositrates;2)furtherincreasetheRMBsexchangerateflexibility;3)furtheropenupitscapitalaccount;and4)liberalizemarketaccesstothefinancialindustrybyremovingexcessiveandhavebeenwrittenintothethirdplenums"Decision",themostchallengingquestionishowtodesignthespecificreformprogramstbeonhighalertincludethefollowing,manyofwhichreflectlegacyissuesoftheoldsystem:,Chinaslocalgovernmentdebthasrisenquicklyinrecentyearstoabout32%,however,isthematuritymismatchbetweenlocalgovernmentliabilities(mostlyintheformofloansandtrustloans),thematurityofatypicalbankloanortrustloanis2-3years,whiletheprojectcashflowswillonlhtening,changeinprudentialregulationsonbanksandtrustcompanies,aswellasdeteriorationininvestorsentimentforwealthmanagementproducts(WMPs).InWesterncountries,theaveragematurityoflocalgovernmentdebtis7-10years,whichismuchclo,therewerenofailuresofbanksandtrustcompanies,andtherewereveryfewdefaultsofhighlyrisky(withriskssimilartojunkbondsinwesterncountries),trustcompaniesandWMPsareexceptionallystrong,butbecausemostofthesepoliticalsystemthatpenalieesofallbanks,trustcompaniesandWMPsleadtoincorrectpricingofcreditproductsissuedbysomeveryriskyborrowers,,,htsteptowardscorrectingthemispricing,,Chinasinterbankratesbecameveryvol,ahighvolatilityofinterestratestendstoconfusefinancialmarketparticipantsandcompaniesastowhatthemonetarypolicyintentionis,,asuddenspikeininterbankratescouldexacerbatethedurationriskf:theyhavedotowiththelackofcapacityinforecastingliquidity,lackofinter-governmentalcollaboration,theloan-to-depositratio,imprudentliquiditymanagementbybanks,shadowbankingactivities,aswellast,cross-bordercapitalflowsremainmanageableasformalcontrolsonQFIIandQDIIquotasremain,,assoonasthecapitalaccountisopen(,theQFIIandQDIIsystemsareabolished),large-scalecapitalinflowsand/oroutflowscouldleadtoexcessivevolatilityoftheexchangerate,destabilizethefinancialsystems,anddamagetherealeco"managedfloatingexchangerateregime",thevolatilityoftheRMB//7thatofMalaysianRinggit,1/13thatofKoreanwon,and1/,massiveinflowscouldresultifChinasbondmarketisopenedtoglobalinvestorsgiventhe2-3%interestratedifferentialbetweenChina)needtomovetowardsamoreliberalizationfinancialsystemsothattoimproveefficiency,and2)theneedtocontainanddefusetheabovementionedfinancialrisks,Chinats,alongwiththeplanedreformssuchasdepositratederegulationandcapitalaccountliberalization:,webelievethatakeyriskfacingthefinancialsystemistheexcessiverelianceoflocalgket,whichwillgraduallyreplaceloansandtrustloans,localgovernmentbondswithlongermaturitiesshouldaccountformorethan50%ofthefinancingsourcesforlocalgovernmentcapex(itisonly10%inChina).Tostartthereformprogram,Chinashouldmodifyitsbudgetlawtoallowindependentissuanceoflocalgovernmentbonds,establishacrediblecreditratingsystemforlocalgovernmentbonds,requirelocalgovernmentstopublishtheirbalancesheetsandmedium-termfinancialprojections,andestablishalegalframeworktoregulatetheapprovalprocedurebylocalpeople"manageddefaults".InaneconomyasbigasChina,afewfailuresofsmallbanksandafewdozendefaultsbyjunkbonds(orWMPs)peryearshouldbenormaland,indeed,,webelievethatregulatorsshouldpermitafewmoredefaultsofnon-standardWMPsintheremainderofthisyear,withsomemodestincreasesinthehaircut(fromthe7%haircutfortheCCTproduct)to,,10-20%.Theseeventsof"manageddefaults"maypotentiallypushupthefundingcostsby100-200bpsforhighlyriskyborrowers,buttheyarenecessaryforcontainingtheexcessiveborrowingviathetrustsector–bypricingoutsomeworstborrowers--andreducingsystemicrisks.。

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