Open Market Operations in China： Practice and Experience

On the basis of reviewing the reform on open mar-ket operations, this paper analyzes the framework, op-erational target and basic experience of open marketoperations of the People's Bank of China. The authorpoints out that open market operations need to be coor-dinated with the use of other monetary policyinstruments; the infrastructure of open market opera-tions should be strengthened, and the development ofthe money market and the bond market should be fur-ther promoted. The author ends this article with theoutlook for open market operations in the future.     

University （undergraduate） logistics management education and training mode in China

In recent years, in order to meet the increasing needs of logistics-majored professionals, Chinese higher logistics management education （undergraduate） is developing rather fast and universities are recruiting a sharply increasing number of students for this program. Nevertheless, Chinese higher education mode has the problem of over-emphasizing on theories and knowledge teaching rather than students＇ practice experienceand all-around ability, which can hardly meet the market demand for high-quality logistics-majored professionals. As a result, a reform in the university logistics education and training mode should be placed on the agenda, which is very essential to improve university logistics education in China.     

Discussion on the Suitability of Strategic Trade Policy in China

One theory of strategic trade policies is about the profit shifts theory by ＂harming others to benefit oneself＇. This strategic trade policy is that one country takes its losses to other countries as in ＂using neighbor＇s field as a drain＂. This kind of trade policy may suffer the resistance and vindictiveness of other countries. Under these terms of effective large-scale production, the unperfected market structure and the transition stages of its economic system, China can＇t adopt this strategic trade policy blindly.     

China as a Global Manufacturing Powerhouse： Strategic Considerations and Structural Adjustment

This study examines the nature and consequences of China＇s rise to the center of world economic affairs through manufacturing-led development. Our historical analysis shows that China is still well short of the point in its developmental process where its growth might be reasonably expected to slow, or the energy, resource and carbon intensity of growth to recede. The study argues that the current trajectory of industrialization will have to be altered when China becomes more actively engaged in dealing with structural issues at home and abroad against the background of the unwinding of global imbalances. One profitable strategy that China might employ wouM be to approximate the incredibly fruitful mass-market integration efforts of the USA that eventually elevated it to its position of global primacy. The cyclical re-emergence of excess capacity in Chinese heavy industry, serious questions about the medium term ability of other major regions to accommodate further large gains in Chinese market share, and the stark conflict between the contemporary style of industrial development and the health of the biosphere indicate strongly that now is the time to catalyze the required adjustment and reform processes that will underpin sustainable long-run prosperity.     

Growth and Common Prosperity in China

This paper introduces a decomposition method that quantifies the contributions to common prosperity of labor market performance and social policies and extends the idea of shared prosperity to a new measure of inequity in opportunities.The resulting common prosperity indices and opportunity equality indices are then applied to five waves of the Chinese Household Income Project data from 1988 to 2018.This paper shows that the labor market performance and social policies have been improving over the last 30 years and have helped China move towards common prosperity for everyone.The indices developed in this paper allow us to quantify the extent of shared prosperity that a country has achieved and to carry out empirical studies on which policy is working and which is not.It can also help us identify the fundamental causes of inequality and aid us in achieving equality in opportunity among all members of society.     

Urban Infrastructure Financing and Delivery in India and China

I. Introduction When Indian Prime Minister Dr Manmohan Singh announced in 2005 that Mumbai will be like Shanghai for India, a trigger was fired. Little did he know that his statement would be taken out of context and interpreted differently than what he had meant. Since then, the term “Shanghaing Mumbai” has caught on in the city development discussions in India.The Chief Minister of Maharashtra said that he would do his best to fulfil the dream of making Mumbai into a World Class Ci…     

Prospects and Analysis of FDI in China

I. The General Picture of FDI1. The amount of FDI used in practice and incontract all increased significantlyIn 2004, China approved the establishment of 43,661 foreign-funded enterprises, 6.29 percentmore than in 2003. The contractual amount of FDI was US$153.479 billion, 33.38 percentmore than in 2003 and the amount actually used reached US$60.63 billion, rising by 13.32percent. By the end of the year, the total number of foreign-funded enterprises in Chinacame to 508,938. The contra…     

Rural Taxation and Government Regulations in China

I. IntroductionIn recent years, the problem of rural taxation in China, especially increasing informal local charges on peasants, has become more acute. The central government has been aware of the problem for a decade, and has been taking various steps to alleviate the problem. Yet, to date, these actions have met with limited success. In 2002, after a difficult decision-making process, the central government decided to     

Rural Electrification in China： History and Institution

I. Introduction Prior to 2002 there was a rural electricity administrative system at the county level andbelow, which was separated from the urban (or state) electricity system. In 1949 when the People’s Republic was founded, there were only 33 small hydropower stations in rural China, with a total installed capacity of 3.63 MW, and total electricity consumption in rural areas was 20 million kWh. Since 1949, rural electrification has made considerable progress and contributed a lot to the …     

Rising Poverty and Its Causes in Urban China

Ⅰ. IntroductionPoverty has generally been perceived as a ruralphenomenon in China. However, urban poverty hasbecome a vital issue since 1995 with the re-structuringof public-owned enterprises. Even officiall statisticsconfirm that the total number of unemployed workersplus xiagang(laid-off)workers reached a figure of some     

Correlation between Employment and Income Distribution in China

I. General Correlation between Employmentand Income Distribution in ChinaBy the general rules of the market economy, the size of employment and the wage levelshould be expanded and raised with economic growth. The wage level should move in theopposite direction from the changes in the size of employment, and the total payroll shouldmove in the same direction with the size of employment when there is little change in thetotal payroll.Correlation between Employment and Income Distribution in…     

China＇s Economy in 2006/2007： Managing High Growth for Faster Structural Adjustment

China's economy in 2006 continued to register high growth of 10.5 to 10.7 percent with low inflation (CPI at 1.3 percent),dissipating fears of a hard landing. Since its accession to the WTO,China has become a significant global economic player,and is the favorite destination for many regional and global production networks. China is now a truly economic power (jingji daguo). China's economic leadership is also increasingly confident of its ability to manage China's domestic economic growth and its growing relations with the outside world. Although China's growth is expected to slow down in 2007 to approximately 9.5 percent,the national mood now is one of "more balanced" growth rather than "fast growth". Therefore,the building of a "harmonious society" is to be emphasized in China,while letting economic growth solve the burning social and environmental issues. In 2007,the government will also need to deal with various internal and external macroeconomic imbalances. The renminbi will be under even stronger pressure to revalue,given China's record trade surplus of US$160bn and foreign reserves of US$1tn.     

Energy Restructuring in China： Retrospects and Prospects

Thirty years have passed since China first adopted the policy of reform and opening up to the outside. Reviewing and appraising the advantages and disadvantages of the government＇s energy restructuring policy in the intervening years is of great importance to the consideration of future reform and opening-up efforts in this industry. Energy production and supply have been a major part of the national economic restructuring. In this paper, the author proceeds from three angles to review and assess the reform and opening-up efforts in the energy industry, and suggests some direction and priorities for its restrueturing in the future.     

Distribution and Permanent Cyclical Fluctuation of Growth in China

Combing the consumer utility function with technology choice and the firm＇s profit maximization function, this paper establishes a model, then basing on the firm＇s behavior in the capital marketing, the equilibrium can be reached. So the phenomenon of permanent cyclical fluctuation of growth can be presented in this model. The reason, basing on the model, is the inharmonious proportion that is distributed to the labor and investor. The empirical research in China proves the hypothesis. At last, economic policies for escaping from permanent cyclical fluctuation have been put forward.     

Decomposing Income Inequality and Policy Implications in Rural China

Using village data from samples covering 6 provinces,36 counties and 216 townships,the income inequalities within and between townships in rural China are assessed. The Theil index and the mean logarithmic deviation methods enable us to test income inequality at the township level,and to decompose it into intra-regional and inter-regional at county and provincial levels. In the present paper,we also decompose income inequalities between and within the nationally designated poor counties (NDPC). The results show that approximately two-thirds of the income inequality in rural China would be eliminated if measures and policies were targeted at the county level. This study also confirms the rationale that China's poverty alleviation strategy of focusing on poor counties based on the inequalities between NDPC and non-NDPC accounts for the most inter-province inequality.     

Energy Technology Advancement and Energy Policy Selection in China

This paper studies the system structure of energy technology advancement and sticking points of energy technology advancement in China. Then the marketing competence and supply and demand makeup of some primary kinds of energy in China are predicted. At last the policy selection to promote energy technology advancement is put forward for the future in China.