China's domestic oil production has lagged the growth in domestic oil consumption since the beginning of the 21st century,leading to a growing reliance on imports.In response,the Chinese government has introduced ...China's domestic oil production has lagged the growth in domestic oil consumption since the beginning of the 21st century,leading to a growing reliance on imports.In response,the Chinese government has introduced a number of policies,including import license constraints,to support domestic suppliers.In an effort to measure the economic impact of these policies we develop a short-run equilibrium model of China's wholesale oil and gas market at the provincial scale.We construct counterfactual scenarios that suggest that relaxing policies that prioritize domestic production in 2016,when the average price of Chinese oil imports was US$42 per barrel(bbl),could have increased China's import demand by 0.29 million barrels per day(MMbbl/d).This results in a substitution of 9%of China’s domestic production in 2016,and a reduction of US$2.8 billion in crude supply costs including transportation as the imported oil has more direct access to the country’s pipeline network,compared to the displaced domestic production.In addition,rising import prices since mid-2017 may provide a window of opportunity for Chinese policymakers to proceed with further deregulation of the domestic oil sector,as the short-term impact on domestic producers is reduced.展开更多
The ecological protection of the inter-provincial river basin of Xin’anjiang River takes the ecological compensation mechanism as the starting point and achieves good results.The success of the mechanism is best refl...The ecological protection of the inter-provincial river basin of Xin’anjiang River takes the ecological compensation mechanism as the starting point and achieves good results.The success of the mechanism is best reflected in its innovation of public policy supply,which is not only a vivid practice of Xi Jinping’s ecological civilization thought in the new era,but also establishes a model for absorption,transformation and export of policy supply.The effective supply of public policies on ecological environment is the realistic choice for the construction of ecological civilization in the new era.展开更多
Compared with what they are under close economy, balance of payments and money supply under open economy have their own features in composition, structure, characteristics and targets. A mathematic model of compositio...Compared with what they are under close economy, balance of payments and money supply under open economy have their own features in composition, structure, characteristics and targets. A mathematic model of composition and structure of GNP is fabricated in this paper, and then the paper analyzes the impacts upon money supply and exchange rate that open economy has. Finally, the relationship among the independence of monetary policies, the stability of foreign exchange rate and the free circulation is discussed.展开更多
Firstly, this paper theoretically proves that with the development of open economy the effect of monetary policy will become poor. Secondly, the paper empirically analyzes the impact of open economy on our monetary po...Firstly, this paper theoretically proves that with the development of open economy the effect of monetary policy will become poor. Secondly, the paper empirically analyzes the impact of open economy on our monetary policy. We conclude that there no longer exists long stable relationship between money supply and economic growth. Finally, in four aspects the paper concretely points out that with the open of economy great changes will take place in the implementation of our monetary policy.展开更多
文摘China's domestic oil production has lagged the growth in domestic oil consumption since the beginning of the 21st century,leading to a growing reliance on imports.In response,the Chinese government has introduced a number of policies,including import license constraints,to support domestic suppliers.In an effort to measure the economic impact of these policies we develop a short-run equilibrium model of China's wholesale oil and gas market at the provincial scale.We construct counterfactual scenarios that suggest that relaxing policies that prioritize domestic production in 2016,when the average price of Chinese oil imports was US$42 per barrel(bbl),could have increased China's import demand by 0.29 million barrels per day(MMbbl/d).This results in a substitution of 9%of China’s domestic production in 2016,and a reduction of US$2.8 billion in crude supply costs including transportation as the imported oil has more direct access to the country’s pipeline network,compared to the displaced domestic production.In addition,rising import prices since mid-2017 may provide a window of opportunity for Chinese policymakers to proceed with further deregulation of the domestic oil sector,as the short-term impact on domestic producers is reduced.
文摘The ecological protection of the inter-provincial river basin of Xin’anjiang River takes the ecological compensation mechanism as the starting point and achieves good results.The success of the mechanism is best reflected in its innovation of public policy supply,which is not only a vivid practice of Xi Jinping’s ecological civilization thought in the new era,but also establishes a model for absorption,transformation and export of policy supply.The effective supply of public policies on ecological environment is the realistic choice for the construction of ecological civilization in the new era.
文摘Compared with what they are under close economy, balance of payments and money supply under open economy have their own features in composition, structure, characteristics and targets. A mathematic model of composition and structure of GNP is fabricated in this paper, and then the paper analyzes the impacts upon money supply and exchange rate that open economy has. Finally, the relationship among the independence of monetary policies, the stability of foreign exchange rate and the free circulation is discussed.
文摘Firstly, this paper theoretically proves that with the development of open economy the effect of monetary policy will become poor. Secondly, the paper empirically analyzes the impact of open economy on our monetary policy. We conclude that there no longer exists long stable relationship between money supply and economic growth. Finally, in four aspects the paper concretely points out that with the open of economy great changes will take place in the implementation of our monetary policy.
