Chinese Economy in the “New Normal”: Realities and Prospects

Great achievements were made in the 12th Five-Year Plan period （2011-2015） in such areas as economic growth, living standards, industrial restructuring, innovation- driven growth, new-type urbanization and ecological civilization, trade and investment, and reform. These achievements have paved the way for China to enhance the quality and efficiency of growth in the new normal. China＇s future growth prospects are highly correlated with the 13th Five-Year Plan （2016-2020）. For the 13th Five-Year Plan period, China is committed to maintaining an annual growth rate of no less than 6.5%, which is both necessary for China to build an all-round, well-off society before 2020 and consistent with the characteristics of China＇s current economic development stage. Meanwhile, efforts must be made to give prominence to consumption, investment, and export as drivers of growth while continuing to improve labor and capital input and efficiency which is vital to mid- and long- term economic development.

Principles for Designing New Types of Housing for a Strong and Resilient Local Economy in the Republic of Congo

The Congolese population is organised into households, which are thus headed by a chief who ensures the social well-being, development and integration into working life of the individuals in his charge. This study examines the functional principles of new housing design as an instrument for transforming the (current) failing economy into a strong and resilient one. Accordingly, a literature review of the practice of designing and building housing in human settlements in the Congo revealed the state of the art on this subject. An analysis of the existing housing stock from a demographic, social and economic point of view made it possible to identify the most common household sizes and numbers, as well as the lifestyle processes that determine the need for developed space. To this end, the experimental method was used to propose configuration plans for various new types of dwelling. To this end, the study highlighted the link between people’s standard of living and the effectiveness of their involvement in the local economy. To achieve the aims of the National Development Plan (NDP), particular attention must be paid to solving the housing problem. The existing housing stock actively contributes to the problems associated with unemployment and insecurity. Functional principles for the design of new types of housing have been developed. Four model types are proposed in line with the demographic structure of the population, their socio-economic characteristics and their lifestyle.

The Effects of Uncertainty Risks on Consumption of Migrant Workers under the Economic New Normal

Based on the precautionary theory,this paper established a framework for consumption of migrant workers from the perspective of the uncertainty risk,and analyzed the effects of uncertain income risk on consumption of migrant workers using the quantile regression method.Results indicated that the income uncertainty significantly inhibits the consumption of migrant workers. The lower the consumption level or the lower the income level,the stronger the inhibitory effect will be. Uncertainty of expenditure also has a significant inhibitory effect on the consumption of migrant workers. Promoting urbanization of migrant workers and accelerating the reform of the household registration system can reduce the uncertainty risks faced by migrant workers,so as to raise the consumption expectation of migrant workers,release the consumption potential of migrant workers,and improve the living standards of migrant workers.

The New Normal of China's Macroeconomic Policy

This paper summarizes the theoretical background and realistic considerations for the emergence of the new normal of macro policy. The characteristics of the new normal of macro policy are as follows: 1) a supply-side approach in response to growth slowdown; 2) understanding economic heterogeneity and growth disequilibrium and paying attention to structural regulation; 3) highlighting strategic planning and broadening the horizon of macro policy; 4) re-establishing a benchmark of macro policy and re-initiating local competition; 5) balancing the interests of various stakeholders and understanding the political economy of macro policy; 6) respecting the spillover effects of major countries and implementing responsible macro policies; 7) respecting "market determinism" and recognizing the limitations of macro policy; and 8) propelling institutional developments and creating a basic framework of macro policy. This paper concludes that the new normal of macro policy is not simply a passive adjustment to the new normal of economy but represents an initiative of proactive response that steers the economy towards a more advanced form. In particular, the following issues should be clarified in current macro policy: some of the characteristics will be corrected or phased out, some that coincide with the new normal will be abreast with the times, and some require that a new trail be explored through innovation of macro policy. These components will constitute the basic framework for China's macro policy to transition towards the new normal.

Natural Gas Utilization and Policy Incentives under the Economic “New Normal”

Since the Chinese economy entered the“new normal”stage,natural gas consumption in China has been sluggish and supply and demand have been relaxed.At the same time,environmental protection policies are intensified and the marketization process is accelerated.Many factors have intertwined with each other and affected China’s natural gas consumption.Judging from China’s economic growth,structural adjustment of and energy consumption,and the scale and structure of global natural gas utilization,we believe that there is still significant rise of natural gas consumption in China.However,there are still many problems that hinders the utilization of natural gas,which may be solved by policies and market-oriented reforms.Taking natural gas-based distributed energy as an example,this paper analyzes the change and influence of relevant policies,and puts forward proposed incentive policies to promote the utilization of natural gas in China under the economic“new normal”.

The New Normal from the Perspective of Macro History and Grand Logic of China's Economic Development

This paper attempts to explain the "new normal" of China's economic development put forward by XI Jinping, the General Secretary of the Central Committee of the Communist Party of China, from three perspectives. First, as the new normal is a natural phase of long-term development in the country's renaissance, recognition of it helps policy-making to hold a historical perspective and maintain a patience in the face of growth slowdown. Second, the new normal as the logic of China's economic development underlines the necessity and urgency of transforming growth patterns and growth drivers. Third, different from the "new mediocre" of the world economy, the new normal reveals great potentials of sustainable growth of the Chinese economy that must be tapped through structural reforms.

The Thinking Path of Deepening Transformation and Innovation of Chinese Banking Industry under the Background of “New Normal” Economy

This paper analyzes the three big impact in the development of Chinese banking industry and discusses the limitations of financial innovation of Chinese banking industry.The results showed that:(1)deepening the banking system innovation to adapt to the new situation;(2)improving customers’experience by deepening model innovation of the internet financial;(3)improving intensive of bank branch operation and the intelligent of network service with the aid of informatization;(4)Providing individualized,characteristic and differentiated services for high-quality customers of banks and enhancing customer value through lightweight network outlets;and(5)Adapting to the development of new entity economy by comprehensive management,optimizing the operation mode of outlets,and strengthening the supply side reform of commercial banks themselves.

Analysis on preserving or increasing the value of social security funds under the new normal economy in China

The ＂new normal＂ is the current stage of development of China＇s economy. The ＂new＂ in new normal means different to past; the ＂normal＂ means relatively stable. For a period of time in the future, the decrease of potential growth rate has become an indisputable fact. Social security fund is an important source of funds for the protection of people＇s livelihood, whose every movement often attract much attention. Under the situation of new normal economy, how to ensure the preserving or increasing value of social security funds on the premise of security is the core task in the operations management of social security fund investment. At present, there are some difficulties in the development of the social security funds, such as the management system and operation mechanism are not perfect, some institutional measures have not been fully implemented and the progress of the law and regulations is slow. In this paper, we will put forward some corresponding improvement measures, such as expand the scope of social security fund investment, accelerate the implementation of the nominal account system and strengthen the actuarial management of social security fund.

Research and Analysis of Transformation and Development of China's Green Economy under the New Normal

In May 2014,Chairman Xi Jinping mentioned the "new normal" for the first time during his inspection of Henan,and proposed that China's development is still in an important period of strategic opportunity. It was advocated to promote the transformation and development of China's green economy and to go out an ecological path of green innovation,green production and green consumption. This paper mainly explains the current situation,problems,corresponding countermeasures and suggestions of the transformation and development of China's green economy under the new normal to let readers understand the necessity of the transformation and development of China's green economy.

Special Economic Zones——New growth points in China's economy

It was approved by the State Council in1984 to establish economic andtechnological development zones in 14coastal port cities to function as windows forthose cities to attract foreign investment,introduce advanced technology andmanagement methods and expand the export-oriented economy. Since 1992, 18 otherdevelopment zones have been approved bythe Council, increasing the number of suchzones to 32.

Research on the Development Orientation of Enterprise Management Incentive Mode under the Background of New Normal and Economic Transformation

In this paper, we conduct research on the future development orientation of the enterprise management incentive mode under the background of new normal and economic transformation. Along with our country social economy level being unceasing enhancement, the modem enterprise management mode also has corresponding improvement, scientific enterprise management gradually, rationalization. In the modem enterprise management mode, for modem enterprise human resources management has always been the hot spot of the enterprise management problems, under the premise of constantly improve the modem enterprise system, human resource management mode to major change. Enterprise＇ s incentive system is an important part of the modem enterprise system, enterprise management, incentive as measures of effective management to enterprise, is the foundation of the enterprises achieve comprehensive in stimulating the enterprise staff＇ s work enthusiasm that has the enormous role. Our research innovatively proposes countermeasures for the challenges for enhancing the future of enterprise management incentive mode.

Human Rights Protection under the New Normal State of Economy

The new normal state of economy is not only the overall trend of China's current economic development stage, but also the strategic choice of China for the future economic development, the anticipation for the economic development and its outcome under the new strategy. It is of great strategic significance for the long-term development of China's human rights as a whole, yet it makes a short-term challenge to the realization of the rights of vulnerable groups. Under the new normal state of economy, it should be targeted to strengthen the protection of the rights of vulnerable groups, which is very important not only for the overall development of China's human rights causes, but also for China to cross over 'the middle-income trap' and to achieve sustainable development of economy.

Exploring the Internal Audit Practices of Electric Power Enterprises in the Context of the New Economic Normal

In the current economic landscape characterized by a decelerating domestic economy,rising investments,and an extended project construction timeline,power generation enterprises must enhance their internal audit efforts to sustain their competitive edge in business development.Addressing systemic shortcomings methodically and practically can enhance the internal audit effectiveness within electric power enterprises and contribute to the steady enhancement of their production and operation performance.

An Optimal Model for Carbon Sinks of CDM Project to Build a New Countryside Based on Cyclic Economy under Uncertainty

Based on the status and characteristics of Clean Development Mechanism （CDM） renewable energy project and the mode of cyclic economy, aimed at achieving the maximum capacity of carbon sinks in the system, Lvjin Jiayuan—New Countryside Distripark CDM project in Wuchuan County was taken as an example for developing an interval linear programming （ILP） model to optimize the crops planting scheme and cows breeding scheme by using interval optimal method. The case showed that the optimized crops planting scheme and cows breeding scheme obtained from the optimal model was reasonable with relatively preferable overall performance. In the context of meeting economic benefits and fertilizer, electricity demand, [231 287.8, 273 312.7] t of CO2 could be absorbed and fixed, which had increased by [12.94, 33.46]% compared with the feasibility scheme of case project and provided technical support for making the decision in CDM project.

Transformation of Rural Grassroots Governance under the New Normal

目前, 中国农村治理进入新常态,主要表现为城乡人口双向流动、农村财产权市场化、农村成员权二元化和农村党建工作重要性日益突显,农村开始从“静” 向“动” 转变.农村政经社“三位一体” 的传统治理模式建立于“静” 的基础之上,呈现出政经社高度一体, 治理方式行政化、决策方式集权化、管理内容综合化的特点; 而新型“协商民主” 治理模式则建立于“动” 的基础之上,其特点概括为：党支部统一领导、政经社相对分离、群众组织积极参与.在“协商民主” 治理模式下,各类组织宏观一体、微观独立,保持“形散而神不散”.

New Normal Control of Agricultural Non-point Source Pollution in the Dianchi Lake Basin

Based on Kunming statistical yearbook and field survey data of agricultural non-point source pollution in counties or districts in the Dianchi Lake basin,previous and current situation of agricultural production and agricultural non-point source pollution control in the Dianchi Lake basin were studied,and countermeasures and suggestions of comprehensive control of agricultural non-point source pollution in the basin were proposed.

Methods and Countermeasures of Controlling Drilling Cost under New Normal

The oil price drops in the international crude oil market and the benefit of upstream operations reduces which has been the new normal of oil companies so far. The upstream operations production and management of oil companies face numerous problems and challenges. One of the most significant aspects is to control and optimize investment. Drilling investment is an important component of development investment in drilling oil and gas wells. This paper proposes ways and countermeasures of controlling drilling cost from 3 aspects which are technology innovation, management innovation and system innovation on basis of studying drilling cost structure and influence factors analysis. The results have some guidance and exemplary significance to show how to improve production and management effect respectively on upstream operations of oil companies under new normal.

Circular Economy in New Village Construction——A Case of Qinhuangdao City, China

On the strength of the theory of agricultural circular economy, the mutual relation between the development of agricultural circular economy and new village construction is analyzed. The results show that developing agricultural circular economy and constructing new village is the mutual promotion; realizing agricultural circular economy is the main target of new agricultural construction and developing agricultural circular economy is the way of realizing new village construction. The major problems in the development of agricultural circular economy in Qinhuangdao City are pointed out, covering weak ideological foundation of developing agricultural circular economy; inadequate directions from the government and insufficient technical and financial support. The countermeasures on developing agricultural circular economy in new village construction are put forward, including cultivating people's awareness on circular economy; establishing the law and regulation system of agricultural circular economy; intensifying the technical and model innovation of agricultural circular economy and accelerating the maketization pace of agro-products.

S Phase Cell Percentage Normalized BrdU Incorporation Rate, a New Parameter for Determining S Arrest

In this study, a new parameter, S phase cell percentage （S fraction） normalized BrdU （SFN-BrdU） incorporation rate, was introduced to detect $ arrest. The results showed a positive linear correlation between the BrdU incorporation rate and the S fraction in unperturbed 16HBE cells. Theoretical analysis indicated that only S arrest could result in a decrease in the SFN-BrdU incorporation rate. Additionally, the decrease in SFN-BrdU incorporation rate and the activation of DNA damage checkpoints further demonstrated that S arrest was induced by diethyl sulfate treatment of 16HBE cells. In conclusion, $FN-BrdU incorporation rate can be used to detecting S arrest.

Structural Fiscal Regulation and Choice of Instruments in the New Normal

Based on the overall consideration of individual behaviors of Ricardian and non-Ricardian households, this paper develops a New Keynesian dynamic stochastic general equilibrium(DSGE) model to form a relatively systematic research framework for analyzing the economic effects of structural fiscal instruments. Our study findsthat great differences exist in the macroeconomic effects of different fiscal instruments, suggesting that the government should prudently select these fiscal instruments in fiscal macro-control. The simulating results of fiscal shocks show that the effect of tax cut is superior to the effect of increased spending. In the context of slowing economic growth and less potent stimulation policy, the government should transform its previous regulatory approach of fiscal policy and shift from hefty spending stimulus policy to structural tax cuts. This paper believes that China should step up the implementation of public-private partnership, increase its spending on social security, healthcare, pension and public services and facilitate the transition toward a service-based government; and that tax policy should focus on structural tax cuts on consumption to promote the transition of demand structure toward consumption-driven.