China＇s Energy Reduction Policy System： Outcomes and Responses of Local Governments

The paper examines the outcomes of and responses to the policy system （the ＂obligatory indicator system＂） used by the Chinese central government to induce provincial governments to meet energy-saving targets during the llth Five Year Plan. The institutional mechanisms underlying the policy system that promotes implementation of energy saving are identified. An analytical framework is developed to identify the strategic responses of provincial governments and the factors shaping their responses. Comprehensive sets of provincial data on economic and energy performance are collected and analyzed. The findings indicate that the central government ＇s credible commitment to implement the policy system drove the initially disparate attitudes of provinces to a converged outcome. However, the outcome is significantly constrained by provinces ＇ initial energy intensity. In particular, provincial governments have applied strategies of ceremonial implementation, efficiency-oriented efforts and effectiveness-focused efforts to attain specific targets. This paper discusses the implications in comparison with the modified obligatory indicator system in the 12th Five Year Plan and offers policy suggestions accordingly.     

绿色崛起生态发展

记者:倪行长,您到江西已经快半年了,最大的感受是什么? 倪行长:几个月来,我看到了很多,听到了很多,也想到了很多,主要有四点比较深的感受: 第一,江西是个好地方.自然资源丰富,铜、钨、银、钽、锂、稀土、铀等举世闻名;历史底蕴深厚,红色文化更是闻名中外,井冈山是中国革命的摇篮,南昌是人民解放军军旗升起的地方,瑞金是第一个苏维埃中央政府所在地,安源是中国工人运动的策源地;生态环境良好,森林覆盖率在全国居前列,有1处世界文化遗产、2处世界地质公园、12个国家级风景名胜区,真是无愧于"物华天宝、人杰地灵"的美誉.     

我国文化产业国际竞争力比较及提升策略——基于2011年横截面数据的分析

本文从生产要素、需求要素、产业关联、企业发展、政府行为和贸易行为层面构建文化产业国际竞争力的评价指标体系,依据相关横截面数据,以2011年世界经济排名前20的国家为对象,对中国文化产业国际竞争力水平进行了年度评价。结果表明:中国作为世界文化大国的地位并没有变化,但离文化强国的地位尚有很大差距,文化产业虽增长较快,但综合国际竞争力较弱,在20个参评国家中处于中下等位置,与世界第二大经济体的地位还不相称。存在要素配置不合理、居民文化消费层次低、文化企业价值网络尚不成熟等系列问题。因此,需要从促进产业整合、完善产业网络、提高科技含量、优化政策与法律环境、加强人才培养,推进产业开放,统筹规划产业布局等方面采取系列策略。     

Strategic Asset Allocation for China＇s Foreign Reserves： A Copula Approach

In this paper, we study strategic asset allocation for China＇s foreign reserves using a risk- based approach. Four aspects of the risk management are investigated： an investment universe, dependence structure, allocation strategies under risk minimization and trade-off between risks and returns. A regime-switching copula model is developed to investigate the dynamic dependence between assets. One regime emphasizes a short-term safe asset and the other regime emphasizes a long-term safe asset. The optimal allocation is derived following two strategies： risk minimization and trade-off between risks and returns in utility maximization with disappointment avoidance, lf the central bank focuses solely on risk minimization, the asymmetries in the asset return dependence encourage the flight to safety. However, if higher risks are allowed in exchange for higher returns, even the exchange is very conservative, and the asymmetries would discourage the flight to safety. Therefore, we suggest that China should mitigate its flight to safety after 2008 and increase holdings of short-term bank deposits, long-term treasury bonds and euro bonds.     

坏战略的危险

HoratioNelson面临着挑战。这位英国海军上将统率的舰队在特拉法加（Trafalgar）地区，面临着舰只数量多于自己的法国和西班牙联合舰队，拿破仑命令这支联合舰队破坏英国的商业贸易，并为跨越海峡入侵做好准备。1805年，当时普遍采用的策略是两支敌对的舰队排成一行，从船舷侧面相互射击。但是，Nelson在战略方面拥有不凡的见识，他知道该如何应对寡不敌众的局面。     

让梦想照进现实

狄更斯在《双城记》的开篇写道：“我们眼前无所不有，我们眼前一无所有”。这正是给我们所处时代的赠言。在全球创意涌动的今天，每个人都会有种感觉，身边充斥着空想家、梦想家、幻想家，想法一个接着一个。我们就每天仰望着氢气球似的主意在天空中飘荡，没有任何下落的趋向，一旦落地，即球已破，事已毁。是想法不够好？还是主意不够妙？好象都不是。     

论出口应收账款的跨国证券化

由于经济环境、法律框架等方面的限制，资产证券化技术一直未能在我国境内蓬勃发展。我国应实施资产证券化的突破口——出口应收账款跨国证券化，克服出口应收账款现有融资渠道的局限性，利用出口应收账款证券化融资的经济优势，落实出口应收账款证券化融资的操作机制等。     

勇于开拓创新 振兴民族企业 创国际一流新材料企业

宁波杉杉新材料科技有限公司位于浙江省宁波市鄞州区望春工业园区杉杉科技创业园,是上海杉杉科技有限公司和杉杉股份有限公司共同投资组建的、专门从事新型功能材料研发与生产的高新技术企业,主营锂离子电池负极材料和特种碳素材料的研发、生产与销售,注册资金7000万元.至2005年底,企业总资产3.4亿元,实现年销售10641万元,净利润达到1441万元.     

对浙江地勘局实施企业化经营情况的调研报告

文章为中国地质矿产经济学会调研组赴浙江省地勘局的调研报告。文章概要总结了浙江地勘局实施企业化经营的基本做法和主要体会，对需要研究解决的几个问题提出了看法。