Trends for China's Economic Development in 1995

Following a series of reforms conducted in the financial, taxa-tion, foreign trade, investment, price and distribution structures—a decisive step for the establishment of socialist market economic structure, China’s economy has entered 1995. This year, China’s economic development will feature the following trends: 1. National economy will continue to maintain high growth, and GDP will increase by around 10％. In recent years, the growing global economy has formed an excellent external environment for China’s economic development; domestically, the

NEW ENVIRONMENT AND NEW THINKING FOR CHINA'S ECONOMIC DEVELOPMENT

Recent Changes of External Environment for China’s Economic Development Nearly ten years has passed since the outbreak of international financial crisis,however,its impact on world economy still lingers.World economy under negative impact of the crisis and interwoven with new economic problems has shown some new features

China's Economic Development is Healthy,Orderly,and Vigorous

From May 31 to June 3,Mr.Ji Bingxuan,Vice-Chairman of NPC Standing Committee and Vice-President of CAFIU visited Canada,leading a CAFIU delegation.During the visit,he attended a seminar themed"China’s Economic and Social Development"jointly hosted by the Chinese Embassy in Canada and the Canadian International Council,and delivered a keynote speech.The following is the full text of the speech.

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.

NEW STATUS OF THE LOESS PLATEAU IN CHINA'S ECONOMIC DEVELOPMENT

impovensnment ana backwardness usea 10 be me common impression the me Loess Plateau. In thewake of the current reform drive and "open-door" policy, the Loess Plateau has seen a burgeoning development in the regional economy that is now driven by a new momentum. Viewed from the increase of its grain output, exploitation of the land resources and fruit production, establishment of energy bases, soil-and-water conservation and other aspects, this article delineates a brand-new and panoramic blueprint for the Plateau’s future. So a new status in the development of China’s national economy is endowed to the Plateau.

Efficient Resource Allocation to Take Center Stage in China's Economic Development

China has basically succeeded in its quantitative catch-up with advanced economies and has now entered into a new stage of economic development focused on the greater efficiency of resource allocation. In order to achieve the objectives of the 13 th Five-Year Plan for National Economic and Social Development, efforts must be made to reform the "petty-farmer" economic mode of production while promoting specialization, modernization, and economies of scale. The restructuring and upgrade of the manufacturing sector should be focused on existing industries and the development of high-end industries while maintaining China's comparative advantage in narrowing technology gaps with advanced economies. The goal should be to transform China from a large industrial manufacturer into a competitive one. Technological innovation should be based on demand, supported by projects, carried out by firms through the social division of labor, and work to increase the capacity of large enterprises to integrate the results of innovation. Materialized labor consumption and logistical costs must be reduced, and the quality and level of urbanization must be increased. To assist productivity development, urban citizenship should be granted to rural migrant workers. In addition, the urbanization of those who remain in the countryside should be promoted in order for rural populations to enjoy the benefits of industrially robust, technologically modern and ecologically sound civilization.

Does City Shape Affect China's Economic Development?

This paper constructs a general equilibrium spatial urban model and measures city geometric compactness using the patch-shape index based on evidence from satellite imagery and basic vector maps of China.It adopts the ordinary least squares and instrumental variable approaches to examine the effect of city shape on the urban development of 279 Chinese cities at or above the prefecture level.The empirical results show that there was a significant negative correlation between city shape and economic outcomes.Specifically,every 1 percentage point increase in the patch-shape index led to a decrease in city-scale GDP by 0.009 percent,housing prices by 0.044 percent,and wages by 0.024 percent.More compact urban layouts attracted an inflow of households and firms,stimulated city economic growth,and were associated with increased housing prices and wage rates.The paper considers the cities'initial conditions,trends in population changes(expanding,shrinking,and stagnant cities),and geographic factors,and finds that the results are robust.An array of policy implications can be drawn from the research.

The Impact of Digital Finance on High-Quality Development of the Chengdu-Chongqing Economic Circle

This paper developed a comprehensive evaluation system that was able to quantify the levels of high-quality development across the cities within the Chengdu-Chongqing economic circle,and investigate the impact that digital finance had on the cities’high-quality development and the underlying mechanisms through which it achieved this.This comprehensive evaluation system was constructed using statistical data from these cities for the period 2014 to 2020 while also taking China’s high-quality development philosophy into account.The key findings revealed that:(a)Digital finance was able to significantly promote high-quality development in the Chengdu-Chongqing economic circle;(b)Digital finance had a significant positive effect in promoting innovative,coordinated,green,open,and shared development;(c)Digital finance was able to stimulate the high-quality development in the Chengdu-Chongqing economic circle by boosting entrepreneurial dynamism;(d)Digital finance had a significant impact on the high-quality development of the axis areas,while its impact was less discernible in non-axis areas.The insights from this research offer a deeper understanding of the factors that drive high-quality development,the role digital finance plays,and the mechanisms through which digital finance is able to propel high-quality development at the city cluster scale.

Socio-economic development of countries based on the Composite Country Development Index(CCDI)

World experience indicates the existence of significant imbalances in the development of countries.The problem of assessing the rational development of the regional and national economy is becoming urgent,since such assessments can prevent development imbalances across countries.The aim of this study is to elaborate a methodology to assess the countries’socio-economic development by integraring 12 modern indices of socio-economic development into the Composite Country Development Index(CCDI).The methodology of this research was based on a set of key indices that described socio-economic development level in four fields(social development,digital development,economic development,and environmental security)and then these indices were integrated into the CCDI.The study further applied factor analysis and R-Studio software to define the gaps of social and economic development in 59 selected countries using the trigonometric function of the angle sine.The correlation analysis confirmed the existence of a close interrelation among the studied countries.This paper noted that due to the emergence of new priorities,it is necessary to revise the assessment methodology of socio-economic development level and expand them to cover the decisive factors.This was confirmed by the results obtained,demonstrating various combinations of the development level in the four fields and their impact on the CCDI.The scientific contribution of this research is to form a methodology(e.g.,the CCDI)for evaluating the socio-economic development level of countries in the world.

Regional Economic Development Trend Prediction Method Based on Digital Twins and Time Series Network

At present,the interpretation of regional economic development(RED)has changed from a simple evaluation of economic growth to a focus on economic growth and the optimization of economic structure,the improvement of economic relations,and the change of institutional innovation.This article uses the RED trend as the research object and constructs the RED index to conduct the theoretical analysis.Then this paper uses the attention mechanism based on digital twins and the time series network model to verify the actual data.Finally,the regional economy is predicted according to the theoretical model.The specific research work mainly includes the following aspects:1)This paper introduced the development status of research on time series networks and economic forecasting at home and abroad.2)This paper introduces the basic principles and structures of long and short-term memory(LSTM)and convolutional neural network(CNN),constructs an improved CNN-LSTM model combined with the attention mechanism,and then constructs a regional economic prediction index system.3)The best parameters of the model are selected through experiments,and the trained model is used for simulation experiment prediction.The results show that the CNN-LSTM model based on the attentionmechanism proposed in this paper has high accuracy in predicting regional economies.

Relationship between Sustainable Land Use and Rural Economic Development:A Case Study of Meining Village,Pingma Town in Guangxi

For a long time,rural economic development has put economic benefits in the first place,ignoring the impact of unreasonable land use on local land resources and ecological environment,which is not conducive to the long-term high-quality development of local economy and sustainable land use.There is an urgent need to study the relationship between sustainable land use and rural economic development in order to achieve the coordinated development of the two.By using the methods of literature research and field investigation,this paper studies Meining Village,Tiandong County,Guangxi Zhuang Autonomous Region.The study found that farmers tend to plant pure eucalyptus forest,single land use structure,short-term rotation planting model and traditional afforestation and land preparation technology are not conducive to sustainable land use in forest areas,and affected by economic and educational factors,farmers livelihood is relatively simple,so the development of rural economy will be restricted.In view of the above problems,this paper puts forward the following solutions:changing the land use model of Meining Village to promote sustainable land use;introducing advanced science and technology and diversified livelihood ways to promote the sustainable development of rural economy;building a virtuous circle of sustainable land use and rural economic development.

Integration of Transport and Land Use Planning by Transit-Oriented Development for Economic Sustainability of the Standard Gauge Railway Projects in Tanzania

Tanzania is one of the countries in Africa that has engaged in the projects for construction of the electrified Standard Gauge Railway (SGR). However, lack of integration of transportation and land-use planning threatens economic sustainability of the SGR project. This study was carried out for the purpose of finding-out how transportation can be integrated with land-use planning for economic sustainability of the project. The study was carried-out by using qualitative research approach through demonstration as case study. Findings show that construction of the SGR is not integrated with land-use planning around the stations and along the SGR corridor. It is concluded that economic sustainability of the SGR projects can be achieved by integration of transport and land-use planning. As demonstrated, it is recommended to deliberate for integration of transportation and land-use planning in the SGR projects of which the prime land within Transit Stations can be efficiently used by using Transit Oriented Development and secure more land for production activities around the Transit Stations and along the SGR corridor.

Impact of taxes on the 2030 Agenda for Sustainable Development:Evidence from Organization for Economic Cooperation and Development(OECD)countries

Multiple ecological and socioeconomic problems have occurred worldwide,raising the awareness of sustainability.This study aims to examine the impact of taxes on Sustainable Development Goals(SDGs)in the context of Organization for Economic Co-operation and Development(OECD)countries.This research used effective average tax(EAT),tax on personal income(TPI),tax on corporate profits(TCP),and tax on goods and services(TGS)as the variables of taxes,and employed secondary data from 38 OECD countries covering 2000–2021.The study also used Breusch-Pagan Lagrange Multiplier(LM),Pesaran Scaled LM,Bias-Corrected Scaled LM,and Pesaran Cross-sectional dependence(CSD)tests to analyze the existence of crosssectional dependency.Then,we established the stationarity of variables through second-generation panel unit root tests(Cross-sectional Augmented Dickey-Fuller(CADF)and Cross-sectional Im,Pesaran,and Shin(CIPS)),and confirmed the long-run cointegration of the variables by using secondgeneration panel cointegration test(Westerlund cointegration test).The results showed that EAT,TPI,TCP,and TGS are positively associated with SDGs.However,the change in TPI has a smaller effect on SDGs than the change in EAT or TCP or TGS.The result of panel causality indicated that EAT,TPI,and TGS have a unidirectional causal relationship with SDGs.The study also found that TCP has a bi-directional causal relationship with SDGs.Moreover,the finding indicated that the OECD countries need to focus on tax policies to achieve the 2030 Agenda for Sustainable Development.This study is based on the theory of optimal taxation(TOT),which suggests that tax systems should be designed to maximize social welfare.Finally,we suggests the importance of taking a comprehensive approach for the managers and policy-makers when analyzing the impact of taxes on SDGs.

Assessing the Contribution of Ecotourism to Economic Growth and Rural Development Offered by Wildlife Resources to People Living in Communities around Matusadonha National Park

Ecotourism is one of the major drivers of economic growth and rural development in many countries involved in wildlife resource management.The objective was to assess the contribution of ecotourism to economic growth and rural development offered to people living in communities around Matusadonha National Park.A total of 140 participants were interviewed and questionnaires were administered to the same number of people.Data were analysed using both qualitative and quantitative methods.Results show that the majority of participants(57%)were females.Safari operations were the major(54.7%)ecotourism activity in Matusadonha National Park.Above half(58.8%)of participants indicated that ecotourism contributed toward economic growth in communities around Matusadonha National Park.Most people(343)were employed on a part-time basis from 2000 to 2022.Participants indicated that the standard of living in most communities increased by more than 50%.Above 50%of participants were satisfied with the contribution of ecotourism towards rural development.It can be concluded that ecotourism has the potential to improve economic growth and rural development if close monitoring and accountability of funds are monitored closely.Local people should be included in the accountability of funds and management of wildlife resources to improve economic benefits to local people.

The Current Status and Prospects of China’s Low- Carbon Economic Development

This paper aims to explore the importance of developing a low-carbon economy in China and presents a series of key recommendations.Firstly,it emphasizes the adverse impact of economic development on the natural environment and highlights the unsustainable nature of China’s previous pursuit of economic growth at the expense of its ecological surroundings.Subsequently,the paper provides specific recommendations in response to the pressing resource and environmental challenges in current economic and social development,along with the urgent need to accelerate the transition towards a greener,low-carbon economy to achieve carbon peak and carbon neutrality goals.The key recommendations include continually enhancing the legal framework for a low-carbon economy,optimizing the energy structure,improving energy efficiency,and optimizing the industrial structure.These proposals aim to offer concrete actions to support the development of a low-carbon economy in China,encompassing legal support,energy transformation,and industrial upgrading.Ultimately,this paper underscores China’s potential in developing a low-carbon economy and calls for resolute actions to strengthen legal frameworks,foster technological innovation,and promote industrial restructuring.These actions will guide China towards a more sustainable and environmentally conscious economic future,aligning its growth trajectory with the global imperative to reduce carbon footprints.

THE RECENT ECONOMIC DEVELOPMENT OF CHINA'S 'MILLION' CITIES

Since the 1980's, two new trends have been emerging in the economic development of the Chinese ' million'cities.One is the development disparity, and the other is the industrial restructuring.Firstly,in terms of per capita GDP(Gross Domestic Product), 32 'million' cities are classified into 4 types.The paper thinks there are 3 main causes which bring about the development disparity.Then, the paper approaches the industrial restructuring of the 'million'cities. In order to shrink the gap between the coastal 'million' cities and the interior 'million' cities, the paper thinks that the central government should pay most attention to the economic development of the inland, meanwhile,the interior 'mllion' cities should speed up the economic reform and industrial restructuring.

Economy Function in the Mode of Sustainable Development

To implement the previously formulated principles of sustainable economic development, all solutions of the linear system of equations and inequalities, which are satisfied by the vector of real consumption, are completely described. It is established that the vector of real consumption with the minimum level of excess supply is determined by the solution of some quadratic programming problem. The necessary and sufficient conditions are established under which the economic system, described by the “input-output” production model, functions in the mode of sustainable development. A complete description of the equilibrium states for which markets are partially cleared in the economy model of production “input-output” is given, on the basis that all solutions of system of linear equations and inequalities are completely described. The existence of a family of taxation vectors in the “input-output” model of production, under which the economic system is able to function in the mode of sustainable development, is proved. Restrictions were found for the vector of taxation in the economic system, under which the economic system is able to function in the mode of sustainable development.

Economic Resilience in Bangladesh: Analyzing Household Well-Being amidst Price Hikes through ANOVA and Paired Sample t-Test Insights

This study delves into the multifaceted impact of price hikes on the standard of living in Bangladesh, with a specific focus on distinct socioeconomic segments. Amidst Bangladesh’s economic growth, the challenges of rising inflation and increased living costs have become pressing concerns. Employing a mixed-methods approach combines quantitative data from a structured survey with qualitative insights from in-depth interviews and focused group discussions to analyze the repercussions of price hikes. Stratified random sampling ensures representation across affluent, middle-class, and economically disadvantaged groups. Utilizing data [1] from 2020 to November 2023 on the yearly change in retail prices of essential commodities, analysis reveals significant demographic shifts, occupational changes, and altered asset ownership patterns among households. The vulnerable population, including daily wage laborers and low-income individuals, is disproportionately affected by adjustments in consumption, income generation, and living arrangements. Statistical analyses, including One-Way ANOVA and Paired Sample t-tests, illuminate significant mean differences in strategies employed during price hikes. Despite challenges, the prioritization of education remains evident, emphasizing its resilience in the face of economic hardships. The result shows that price hikes, especially in essential items, lead to substantial adjustments in living costs, with items like onions, garlic, and ginger experiencing significant increases of 275%, 108%, and 483%, respectively.

Multiple Forces Driving China's Economic Development:A New Analytic Framework

Based on economic growth theory and the World Bank＇s analytical framework relating to the quality of growth, the present paper constructs a framework that encompasses physical, international, human, natural and knowledge capital to synthetically interpret economic development. After defining the five types of capital and total capital, we analyze the dynamic changes of these types of capital in China and in other countries. The results show that since China＇ s reform and opening up, knowledge, international, human and physical capital have grown rapidly, with speeds of growth higher than that of economic growth. As the five types of capital have all increased at varying paces, the savings level of total capital in China has quadrupled in 25 years and overtook that of the USA in the 1990s. The changes in the five types of capital and total capital reveal that there are progressively multiple driving forces behind China＇ s rapid economic development. Implications for China＇s long-term economic development are thereby raised.