The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking thro...The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.展开更多
Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companie...Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companies in pilot regions(Shanghai and eight other provinces and municipalities) and the rest of China. Our study arrived at the following findings: Compared with pilot sectors in non-pilot regions, BT-to-VAT reform has no significant effect on the turnover tax burden of pilot companies in pilot regions; compared with non-pilot companies, BT-to-VAT reform slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden for pilot companies in the long run. Further differentiation of ownership nature led to the discovery that BT-toVAT reform somewhat reduced the turnover tax burden of SOEs and central SOEs, slightly increased the turnover tax burden for non-SOEs and local SOEs in pilot regions, slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden in the long run after nationwide pilot programs were introduced; BT-to-VAT reform has more significant effects on non-SOEs and local SOEs. In general, BT-to-VAT reform has no significant effects on the turnover tax burden of companies and after differentiating pilot regions, pilot sectors and ownership nature, we did not discover any significant effect, which is generally consistent with policy expectations.展开更多
Tsinghua Business Review Issue No.5,2015Transformation of Transnational Corporations China’s reform and opening-up has witnessed a dazzling succession of transnational corporations entering the Chinese market.But the...Tsinghua Business Review Issue No.5,2015Transformation of Transnational Corporations China’s reform and opening-up has witnessed a dazzling succession of transnational corporations entering the Chinese market.But the salad days are over,along with business transformations,capital withdrawals and enterprise shutdowns.What kind of business environment do these transnational corporations now face?展开更多
The China Model for development of a modem society adapts the lessons of previous Asian ＂miracle economies＂ to Chinese conditions. The core Asian Model is pragmatic adoption of best international practices regardles...The China Model for development of a modem society adapts the lessons of previous Asian ＂miracle economies＂ to Chinese conditions. The core Asian Model is pragmatic adoption of best international practices regardless of origin, organized around the central less of Asian successes and gives priority to economic growth at the expense of geopolitical, political and ideological goals. Given the economic imperative, the model establishes priority rankings： agriculture first, then light industry, heavy industry, domestic politics, and international politics. The Asian Model＇s economic strategy includes critical components： international opening; domestic economic marketization; rapid incrementalism rather than shock therapy in pursuing those goals; and competition. In all the Asian miracles including China, successfill economic reform has been accompanied by parallel incremental political reforms. In addition to emulating the Asian model, China has added distinctive strategies, including most notably the use of a ＂ One, Two＂ approach -- one country, two systems; one sector, two systems; one company, two systems; and so forth. China has refined the art of managing a country on an efficient business organizational model, and of using ＂social globalization＂ to expose its government, business and student elites to best practices all over the world.展开更多
文摘The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.
基金National Accounting Research Key Project of the Ministry of Finance"A study on the Supervision and Governance Functions,Implementing Pathway and Promotion Mechanism of Audits(Grant No.2015KJA017)"General Project of Hunan Provincial Foundation for Philosophical,Social and Scientific Research"Study on the Supervision and Governance Functions of Audits in the New Normal"(Grant No.l5YBA079)Social Sciences Foundation of China(SSFC)"A study on the Supervision of Asset Mispricing,the Mitigation of Systematic Financial Risks and Dynamic Supervision"(Grant No.l6BGL050)
文摘Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companies in pilot regions(Shanghai and eight other provinces and municipalities) and the rest of China. Our study arrived at the following findings: Compared with pilot sectors in non-pilot regions, BT-to-VAT reform has no significant effect on the turnover tax burden of pilot companies in pilot regions; compared with non-pilot companies, BT-to-VAT reform slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden for pilot companies in the long run. Further differentiation of ownership nature led to the discovery that BT-toVAT reform somewhat reduced the turnover tax burden of SOEs and central SOEs, slightly increased the turnover tax burden for non-SOEs and local SOEs in pilot regions, slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden in the long run after nationwide pilot programs were introduced; BT-to-VAT reform has more significant effects on non-SOEs and local SOEs. In general, BT-to-VAT reform has no significant effects on the turnover tax burden of companies and after differentiating pilot regions, pilot sectors and ownership nature, we did not discover any significant effect, which is generally consistent with policy expectations.
文摘Tsinghua Business Review Issue No.5,2015Transformation of Transnational Corporations China’s reform and opening-up has witnessed a dazzling succession of transnational corporations entering the Chinese market.But the salad days are over,along with business transformations,capital withdrawals and enterprise shutdowns.What kind of business environment do these transnational corporations now face?
文摘The China Model for development of a modem society adapts the lessons of previous Asian ＂miracle economies＂ to Chinese conditions. The core Asian Model is pragmatic adoption of best international practices regardless of origin, organized around the central less of Asian successes and gives priority to economic growth at the expense of geopolitical, political and ideological goals. Given the economic imperative, the model establishes priority rankings： agriculture first, then light industry, heavy industry, domestic politics, and international politics. The Asian Model＇s economic strategy includes critical components： international opening; domestic economic marketization; rapid incrementalism rather than shock therapy in pursuing those goals; and competition. In all the Asian miracles including China, successfill economic reform has been accompanied by parallel incremental political reforms. In addition to emulating the Asian model, China has added distinctive strategies, including most notably the use of a ＂ One, Two＂ approach -- one country, two systems; one sector, two systems; one company, two systems; and so forth. China has refined the art of managing a country on an efficient business organizational model, and of using ＂social globalization＂ to expose its government, business and student elites to best practices all over the world.
