China’s great transformation,launched three decades ago,has changed the fate of hundreds of millions of people,including Liu Wei,an "educated youth" at the time. After having witnessed the seeming insignifi...China’s great transformation,launched three decades ago,has changed the fate of hundreds of millions of people,including Liu Wei,an "educated youth" at the time. After having witnessed the seeming insignificance and helplessness of individuals in the face of grand social movements over the past 30 years,Liu,now an economist,shifted his attention to how the fate of ordinary people changes amid the rising and ebbing tides of the economy. While people fret over the future national well-being during complicated policy changes,Liu pointed out that employment holds key to China’s economy because employment has a direct bearing on people’s livelihood.展开更多
This paper first presents a comparison between China and India with respect to their overall economic and social development conditions and finds that China is currently at a higher development stage than India in ter...This paper first presents a comparison between China and India with respect to their overall economic and social development conditions and finds that China is currently at a higher development stage than India in terms of key economic indicators or social indicators.This paper also conducts an assessment of the international competitiveness of the Chinese and Indian manufacturing industries and finds that the Chinese manufacturing industry is more competitive than its Indian counterpart.This paper then conducts an evaluation of the international competitiveness of the Chinese and Indian service industries and finds that(1)the Indian service industry has remained more globally competitive than its Chinese counterpart in most of the years examined;(2)the Chinese service industry has derived its international competitiveness primarily from its competitive advantages.In spite of its weaker comprehensive competitiveness,the Chinese services industry has consistently secured a stronger competitive edge over its Indian counterpart.The Chinese service industry’s comparative competitiveness is weaker than India’s simply because the Chinese manufacturing industry has grown at a faster pace.Last but not least,this paper conducts an in-depth analysis of the causes of competitive difference between China and India in respect of labor quality,infrastructure,government role,social heterogeneity,religion and culture as well as overseas compatriots.展开更多
The 2023 China Balance of Payments Report reveals a notable shift in foreign investment trends,with a net inflow of US$14.1 billion into China's securities,marking a turnaround from the net outflow observed in 202...The 2023 China Balance of Payments Report reveals a notable shift in foreign investment trends,with a net inflow of US$14.1 billion into China's securities,marking a turnaround from the net outflow observed in 2022.This surge is primarily attributed to heightened foreign capital allocation toward RMB-denominated bonds,fostering a gradual stabilization in foreign investment within China's securities domain.Amidst evolving international and domestic macroeconomic policies.展开更多
Resident income inequality has widened drastically within a short timeframe in the process of transition. From a static point of view, there is a combination of three factors underpinning the widening of the resident ...Resident income inequality has widened drastically within a short timeframe in the process of transition. From a static point of view, there is a combination of three factors underpinning the widening of the resident income gap. Such factors include a) the variation in quantity of factors of production accumulated during the planned economy era; b) the difference between localities in respect of starting points at different historical stages along their varying paths of evolution; c) the illegal and abnormal income stemming from institutional loopholes and policy deficiencies. From a dynamic point of view, there are three root causes underlying resident income gap expansion. Firstly, the privileged group has been continuing to benefit from an increasingly large share of institutional transition returns by exerting influence over the path of evolution; secondly, the underprivileged group has lost their ability to capture income on a sustainable basis due to the lack of a mechanism to express their interests; thirdly, public policies are not designed or enforced well enough to regulate income inequality. Given the significant effects of excess income disparity on economic performance and social stability, it is thus imperative to hold the income gap in check in light of the societal reality of the transitional stage.展开更多
The Chinese economy has continued to grow robustly amidst accusations of"extensive growth",and a scientific concept of development is now needed to provide leadership and guidance for China’s development.Ho...The Chinese economy has continued to grow robustly amidst accusations of"extensive growth",and a scientific concept of development is now needed to provide leadership and guidance for China’s development.How did China come to embark upon the path of extensive growth? What are the hallmarks of this growth pattern? Why,after many years of discussion upon this matter,are satisfactory results still so hard to obtain? Does China possess the essential conditions for transforming the growth pattern? All of the above directly relate to the following question:where should China begin when implementing a change in the growth pattern? Professor Jin Bei’s insightful deliberations will allow the reader to develop a clearer understanding of the issues.展开更多
In July 2024,the third plenary session of the 2oth Central Committee of the Communist Party of China was held in Beijing.During this session,the Resolution of the Central Committee of the Communist Party of China on F...In July 2024,the third plenary session of the 2oth Central Committee of the Communist Party of China was held in Beijing.During this session,the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization(hereinafter referred to as"Resolution")was adopted.The Resolution clearly defines the guiding philosophy,overall objectives,and general principles for further deepening reform comprehensively.It emphasizes that"We must pursue coordinated reforms in the fiscal,tax,financial,and other major sectors",and outlines a series of significant deployments for deepening financial system reform.展开更多
This paper investigates the reasons behind the resilience of China＇s economy to the global financial tsunami. China ＇s economy is lowly leveraged in its banking, household, public and external sectors and, therefore...This paper investigates the reasons behind the resilience of China＇s economy to the global financial tsunami. China ＇s economy is lowly leveraged in its banking, household, public and external sectors and, therefore, is less plagued by the global deleveraging than most developed economies. Chinese domestic sectors have improved significantly over the past decade, giving them larger capacity to cope with external shocks than during the Asian financial crisis a decade ago. Contrary to the conventional wisdom that China＇s economic growth is highly dependent on exports, we find that the main growth engine for China is domestic demand. Destocking, rather than falling exports, was the main cause of the sharp economic slowdown in China in late 2008 and early 2009. Therefore, the global economic slowdown should have limited impact on China＇s economy. We forecast a sustained eeonomic recovery in China in 2009-2011, with real GDP growth exceeding 10 percent in 2010.展开更多
文摘China’s great transformation,launched three decades ago,has changed the fate of hundreds of millions of people,including Liu Wei,an "educated youth" at the time. After having witnessed the seeming insignificance and helplessness of individuals in the face of grand social movements over the past 30 years,Liu,now an economist,shifted his attention to how the fate of ordinary people changes amid the rising and ebbing tides of the economy. While people fret over the future national well-being during complicated policy changes,Liu pointed out that employment holds key to China’s economy because employment has a direct bearing on people’s livelihood.
基金the stage-wise achievement of"Developing Technologies for Dynamic Simulation of Cross-Regional Economic Development(2006BAC18B03)",a research project under the National Science and Technology Support Program
文摘This paper first presents a comparison between China and India with respect to their overall economic and social development conditions and finds that China is currently at a higher development stage than India in terms of key economic indicators or social indicators.This paper also conducts an assessment of the international competitiveness of the Chinese and Indian manufacturing industries and finds that the Chinese manufacturing industry is more competitive than its Indian counterpart.This paper then conducts an evaluation of the international competitiveness of the Chinese and Indian service industries and finds that(1)the Indian service industry has remained more globally competitive than its Chinese counterpart in most of the years examined;(2)the Chinese service industry has derived its international competitiveness primarily from its competitive advantages.In spite of its weaker comprehensive competitiveness,the Chinese services industry has consistently secured a stronger competitive edge over its Indian counterpart.The Chinese service industry’s comparative competitiveness is weaker than India’s simply because the Chinese manufacturing industry has grown at a faster pace.Last but not least,this paper conducts an in-depth analysis of the causes of competitive difference between China and India in respect of labor quality,infrastructure,government role,social heterogeneity,religion and culture as well as overseas compatriots.
文摘The 2023 China Balance of Payments Report reveals a notable shift in foreign investment trends,with a net inflow of US$14.1 billion into China's securities,marking a turnaround from the net outflow observed in 2022.This surge is primarily attributed to heightened foreign capital allocation toward RMB-denominated bonds,fostering a gradual stabilization in foreign investment within China's securities domain.Amidst evolving international and domestic macroeconomic policies.
文摘Resident income inequality has widened drastically within a short timeframe in the process of transition. From a static point of view, there is a combination of three factors underpinning the widening of the resident income gap. Such factors include a) the variation in quantity of factors of production accumulated during the planned economy era; b) the difference between localities in respect of starting points at different historical stages along their varying paths of evolution; c) the illegal and abnormal income stemming from institutional loopholes and policy deficiencies. From a dynamic point of view, there are three root causes underlying resident income gap expansion. Firstly, the privileged group has been continuing to benefit from an increasingly large share of institutional transition returns by exerting influence over the path of evolution; secondly, the underprivileged group has lost their ability to capture income on a sustainable basis due to the lack of a mechanism to express their interests; thirdly, public policies are not designed or enforced well enough to regulate income inequality. Given the significant effects of excess income disparity on economic performance and social stability, it is thus imperative to hold the income gap in check in light of the societal reality of the transitional stage.
文摘The Chinese economy has continued to grow robustly amidst accusations of"extensive growth",and a scientific concept of development is now needed to provide leadership and guidance for China’s development.How did China come to embark upon the path of extensive growth? What are the hallmarks of this growth pattern? Why,after many years of discussion upon this matter,are satisfactory results still so hard to obtain? Does China possess the essential conditions for transforming the growth pattern? All of the above directly relate to the following question:where should China begin when implementing a change in the growth pattern? Professor Jin Bei’s insightful deliberations will allow the reader to develop a clearer understanding of the issues.
文摘In July 2024,the third plenary session of the 2oth Central Committee of the Communist Party of China was held in Beijing.During this session,the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization(hereinafter referred to as"Resolution")was adopted.The Resolution clearly defines the guiding philosophy,overall objectives,and general principles for further deepening reform comprehensively.It emphasizes that"We must pursue coordinated reforms in the fiscal,tax,financial,and other major sectors",and outlines a series of significant deployments for deepening financial system reform.
文摘This paper investigates the reasons behind the resilience of China＇s economy to the global financial tsunami. China ＇s economy is lowly leveraged in its banking, household, public and external sectors and, therefore, is less plagued by the global deleveraging than most developed economies. Chinese domestic sectors have improved significantly over the past decade, giving them larger capacity to cope with external shocks than during the Asian financial crisis a decade ago. Contrary to the conventional wisdom that China＇s economic growth is highly dependent on exports, we find that the main growth engine for China is domestic demand. Destocking, rather than falling exports, was the main cause of the sharp economic slowdown in China in late 2008 and early 2009. Therefore, the global economic slowdown should have limited impact on China＇s economy. We forecast a sustained eeonomic recovery in China in 2009-2011, with real GDP growth exceeding 10 percent in 2010.
