CHINA is the world’s second-largest economy,and how its economic growth progresses will inevitably influence that globally.The outside world has followed closely the sustainability of China’s economic growth.Such in...CHINA is the world’s second-largest economy,and how its economic growth progresses will inevitably influence that globally.The outside world has followed closely the sustainability of China’s economic growth.Such interest was the basis for the BBC documentary How China Fooled the World.The documentary is centered around China’s economic growth having been driven by vast amounts of credit from the banking sector over the past few years.展开更多
After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,...After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,the China Banking and Insurance Regulation Commission(CBIRC)disclosed 10 penalties to the tune of RMB156.3 million in fines and confiscation.On the Central Economic Work Conference held at the end of 2018,a new requirement was proposed to strengthen financial regulation and to win the battle on preventing and defusing risks.At the beginning of 2019,President Xi Jinping also made a key deployment on deepening financial reform on the supply side,calling for the optimization of financial services,and preventing financial risks.Hence,the phase of financial expansion characterized by financial liberalization,shadow banking,and the rapid growth of Internet finance is coming to a turning point.In the phase of stringent regulation,the financial sector should respond actively,make early preparations and clarify the boundary for profit growth and compliance development,break away from the current situation that lacking both high-quality assets and stable low-cost liabilities,and balance business innovation and prudential risk control to ensure the momentum of sustainable and sound growth.展开更多
In recent years, China's think tanks have entered a rapid development era. In some fields and areas, there is a growing think tank mania, which is a relatively new phenomenon in the country, reflecting the urgent nee...In recent years, China's think tanks have entered a rapid development era. In some fields and areas, there is a growing think tank mania, which is a relatively new phenomenon in the country, reflecting the urgent need for think tanks in society.展开更多
How to tap residents' spending power in the 14th Five-Year Plan period The Fifth Plenary Session of the 19 th Central Committee of the Communist Party of China(CPC) in October 2020 decided to comprehensively promo...How to tap residents' spending power in the 14th Five-Year Plan period The Fifth Plenary Session of the 19 th Central Committee of the Communist Party of China(CPC) in October 2020 decided to comprehensively promote consumption and further its fundamental role in driving economic development. A major task during the 14 th Five-Year Plan(2021-25) period will be to adapt to the general trend of consumption upgrading and accelerate unleashing the consumption potential of 1.4 billion people to lay a solid foundation for high-quality development.展开更多
The demand for trade in services has increased considerably during the crucial stage of transformation and upgrading of China’s economy.It is essential to adapt to development trends and form a new patter...The demand for trade in services has increased considerably during the crucial stage of transformation and upgrading of China’s economy.It is essential to adapt to development trends and form a new pattern of opening up focused on trade in services.The process of opening up China’s service sector has displayed a general trend of acceleration.Orderly expanding the opening up of the service sector to the outside world requires important breakthroughs in opening up the service market and promoting institutional reforms with more efforts on institutional openness.展开更多
The coronavirus pandemic is likely to change the direction ofinternational economic integration The novel coronavirus outbreak has brought severe shocks to global supply and industrial chains.The longer the pandemic l...The coronavirus pandemic is likely to change the direction ofinternational economic integration The novel coronavirus outbreak has brought severe shocks to global supply and industrial chains.The longer the pandemic lasts,the bigger the impact will be.Some supply chains could possibly break down.Being the powerhouse of global manufacturing,the accelerating production resumption in China is conducive to the development of the global manufacturing industry.展开更多
Under the impact of the novel coronavirus pandemic,Hainan Province must give priority to opening up and institutional innovation to build itself into a free trade port with a new open economic system boasting both Chi...Under the impact of the novel coronavirus pandemic,Hainan Province must give priority to opening up and institutional innovation to build itself into a free trade port with a new open economic system boasting both Chinese characteristics and inter national competitiveness.Service-oriented economy The most pressing task is to make breakthroughs in its transformation into a serviceoriented economy.The weak industrial foundation is the main stumbling block in the development of the Hainan Free Trade Port.For example,in 2019,the added value of Hainan's hi-tech industry was less than one 30th of Beijing's.展开更多
In the post-COVID-19 era,China and the European Union,given the com plex global econom ic situation,need to deepen economic and trade cooperation to not only promote economic growth in C hina and the EU,but also help ...In the post-COVID-19 era,China and the European Union,given the com plex global econom ic situation,need to deepen economic and trade cooperation to not only promote economic growth in C hina and the EU,but also help global econom ic recovery and develop a new global growth pattern.展开更多
Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”...Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”Guangdong Province has been at the forefront of reform and opening up.In this way,it has gained significant advantages in cooperation with Hong Kong and Macao.And its cooperative relationship with Hong Kong and Macao has become a leading example of regional development,enabling it to have been playing the role of a bellwether in the overall layout for China’s reform and opening up.展开更多
文摘CHINA is the world’s second-largest economy,and how its economic growth progresses will inevitably influence that globally.The outside world has followed closely the sustainability of China’s economic growth.Such interest was the basis for the BBC documentary How China Fooled the World.The documentary is centered around China’s economic growth having been driven by vast amounts of credit from the banking sector over the past few years.
文摘After the growth phase featured by high-leverage,expansion of shadow banks,and increased potential risks,the financial industry in China now enters the phase of stringent regulation and remediation.On December 7,2018,the China Banking and Insurance Regulation Commission(CBIRC)disclosed 10 penalties to the tune of RMB156.3 million in fines and confiscation.On the Central Economic Work Conference held at the end of 2018,a new requirement was proposed to strengthen financial regulation and to win the battle on preventing and defusing risks.At the beginning of 2019,President Xi Jinping also made a key deployment on deepening financial reform on the supply side,calling for the optimization of financial services,and preventing financial risks.Hence,the phase of financial expansion characterized by financial liberalization,shadow banking,and the rapid growth of Internet finance is coming to a turning point.In the phase of stringent regulation,the financial sector should respond actively,make early preparations and clarify the boundary for profit growth and compliance development,break away from the current situation that lacking both high-quality assets and stable low-cost liabilities,and balance business innovation and prudential risk control to ensure the momentum of sustainable and sound growth.
文摘In recent years, China's think tanks have entered a rapid development era. In some fields and areas, there is a growing think tank mania, which is a relatively new phenomenon in the country, reflecting the urgent need for think tanks in society.
文摘How to tap residents' spending power in the 14th Five-Year Plan period The Fifth Plenary Session of the 19 th Central Committee of the Communist Party of China(CPC) in October 2020 decided to comprehensively promote consumption and further its fundamental role in driving economic development. A major task during the 14 th Five-Year Plan(2021-25) period will be to adapt to the general trend of consumption upgrading and accelerate unleashing the consumption potential of 1.4 billion people to lay a solid foundation for high-quality development.
文摘The demand for trade in services has increased considerably during the crucial stage of transformation and upgrading of China’s economy.It is essential to adapt to development trends and form a new pattern of opening up focused on trade in services.The process of opening up China’s service sector has displayed a general trend of acceleration.Orderly expanding the opening up of the service sector to the outside world requires important breakthroughs in opening up the service market and promoting institutional reforms with more efforts on institutional openness.
文摘The coronavirus pandemic is likely to change the direction ofinternational economic integration The novel coronavirus outbreak has brought severe shocks to global supply and industrial chains.The longer the pandemic lasts,the bigger the impact will be.Some supply chains could possibly break down.Being the powerhouse of global manufacturing,the accelerating production resumption in China is conducive to the development of the global manufacturing industry.
文摘Under the impact of the novel coronavirus pandemic,Hainan Province must give priority to opening up and institutional innovation to build itself into a free trade port with a new open economic system boasting both Chinese characteristics and inter national competitiveness.Service-oriented economy The most pressing task is to make breakthroughs in its transformation into a serviceoriented economy.The weak industrial foundation is the main stumbling block in the development of the Hainan Free Trade Port.For example,in 2019,the added value of Hainan's hi-tech industry was less than one 30th of Beijing's.
文摘In the post-COVID-19 era,China and the European Union,given the com plex global econom ic situation,need to deepen economic and trade cooperation to not only promote economic growth in C hina and the EU,but also help global econom ic recovery and develop a new global growth pattern.
文摘Since the start of reform and opening up in 1978,espe-cially since the return of Hong Kong and Macao,for the purpose of maintaining the regions’stability and prosperity under the policy of“one country,two systems,”Guangdong Province has been at the forefront of reform and opening up.In this way,it has gained significant advantages in cooperation with Hong Kong and Macao.And its cooperative relationship with Hong Kong and Macao has become a leading example of regional development,enabling it to have been playing the role of a bellwether in the overall layout for China’s reform and opening up.