1994 was of special significance to the reform of China’s economic system. The new reform measures for taxation, finance, foreign trade, investment, and the price and enterprise system were smoothly implemented in th...1994 was of special significance to the reform of China’s economic system. The new reform measures for taxation, finance, foreign trade, investment, and the price and enterprise system were smoothly implemented in the past year. In the reform of the taxation system, the taxation quota assigned by central government for the enterprises in the provinces and municipalities, regardless of their actual profits and losses, was replaced by a system in which tax was levied in proportion to the business turnover and profit. A turnover tax system with added-value tax as its core展开更多
In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound c...In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound change of the government’s financial management idea and mode.In reality,the practice of China’s government investment funds is still in the stage of“learning by doing”.The diversification of the target,the lack of supervisory experience,the imperfect information disclosure and evaluation mechanism,and the shortage of professional talents pose a challenge to the government’s future risk control and the regulation of government behavior.This paper summarizes the path and trend of the development of government investment funds and the possible risks,and on the basis of international experience,puts forward the measures and suggestions for further standardizing the management of government investment funds and deepening the reform of government investment and financing system.展开更多
文摘1994 was of special significance to the reform of China’s economic system. The new reform measures for taxation, finance, foreign trade, investment, and the price and enterprise system were smoothly implemented in the past year. In the reform of the taxation system, the taxation quota assigned by central government for the enterprises in the provinces and municipalities, regardless of their actual profits and losses, was replaced by a system in which tax was levied in proportion to the business turnover and profit. A turnover tax system with added-value tax as its core
文摘In the context of guarding against financial risks and deleveraging,government investment funds supplement the traditional government debt financing by market-based equity financing,which is regarded as the profound change of the government’s financial management idea and mode.In reality,the practice of China’s government investment funds is still in the stage of“learning by doing”.The diversification of the target,the lack of supervisory experience,the imperfect information disclosure and evaluation mechanism,and the shortage of professional talents pose a challenge to the government’s future risk control and the regulation of government behavior.This paper summarizes the path and trend of the development of government investment funds and the possible risks,and on the basis of international experience,puts forward the measures and suggestions for further standardizing the management of government investment funds and deepening the reform of government investment and financing system.
