Where have China’s state monopolies gone?

If China’s economy is an example of “state-capitalism,” then its large, state-owned enterprises (SOEs) could be expected to monopolize key sectors. But previous estimates of industrial concentration, using the Herfindahl—Hirschman Index (HHI), have suggested that the level of industrial concentration—and therefore the potential for the abuse of monopoly power—is very low. These studies have significantly underestimated HHI, since they do not consolidate subsidiary enterprises in Chinese survey data into larger business groups, or according to ultimate ownership. After making these adjustments, a measure of potential HHI shows that large state monopolies remain in oil and gas, electricity, tobacco and, potentially, automobiles. In particular, SOEs supervised by the central government are heavily invested in potentially concentrated industries. But aggregate profits of the state sector are driven more by the portfolio distribution of assets between resources, manufacturing and utilities, rather than industrial concentration within sectors.     

污水处理厂的脱氮除磷改造

结合城镇污水处理厂脱氮除磷改造工程实例，对老氧化沟进行功能区划分、设备改造：增加好氧区溶解氧浓度，降低缺（厌）区溶解氧浓度；同时适当增容，延长氧化沟水力停留时间和污泥泥龄。运行结果表明，系统出水主要指标稳定达到GB18918—2002一级A标准。     

The Prospects for European Bank Concentration in Light of Recent US Experience

ABSTRACT

Recent United States experience is used to draw implications for European bank concentration. The basic hypothesis is that US concentration is driven by the need to internalise risk reduction activities and that this is done by creating an internal market comprising multiple financial activities. A similar process seems to be at work in Europe after the Single Market Act and the various European commission directives have made it possible for banks to operate across national boundaries. That there has been little EU cross-border merger activity suggests additional impediments. One is the absence of a single EU regulatory agency that limits the benefits of expanding activity across borders.

RESUMEN. La reciente experiencia estadounidense se está utilizando para determinar implicancias para la concentración de los bancos europeos. La hipótesis básica es que la concentración de los EE.UU. está siendo impulsada por la necesidad de internalizar las actividades de riesgo y que esto se logra creando un mercado interno compuesto por múltiples actividades financieras. Un proceso similar parece haberse puesto en marcha en Europa después de la Ley del Mercado Único y las diversas disposiciones emitidas por las comisiones europeas han permitido a la banca operar en transacciones transfronterizas. El hecho que hasta el momento haya habido pocas operaciones de fusión a través de las fronteras de la Unión Europea sugiere la existencia de impedimentos adicionales. Uno es la ausencia de una agencia única de la Unión Europea que limite los beneficios de expandir estas actividades a través de las fronteras.

RESUMO. A recente experiência americana é usada para verificar as implicaç[otilde]es da concentração bancária européia. A hipótese fundamental é de que a concentração americana tem sido conduzida pela necessidade de internalizar as atividades de redução de risco e que isto é feito através da criação de um mercado interno que envolve múltiplas atividades financeiras. Um processo semelhante parece estar acontecendo na Europa, a partir da Lei do Mercado Único, e as diversas comiss[otilde]es diretivas européias, que possibilitaram aos bancos operar através das fronteiras nacionais. O fato de ter havido poucas fus[otilde]es internacionais sugere a existência de outros impedimentos. Um deles é a ausência de uma única agência reguladora da União Européia, que tem limitado os benefícios da atividade de expansão entre as fronteiras dos países.     

循环水浓缩倍数的涵义及控制方法探讨

文章介绍了甲醇厂循环水系统的具体情况,探讨了浓缩倍数的涵义,并详细分析了浓缩倍数控制范围及影响因素、具体浓缩倍数的计算和控制方法。     

超细全尾砂连续充填工艺技术的研究与开发

冬瓜山铜矿采用阶段空场嗣后充填采矿法,设计生产能力13000t/d,充填能力3850m3/d,年需充填量120万立方。矿块分二步骤回采,即先采矿房,后采矿柱,为控制地压活动,采用隔三采一和隔一采一的采矿顺序。在矿石中有25%的难选矿石,为提高选矿回收率因此矿石粒级细且尾砂含硫较高,若用分级尾砂充填矿山充填材料缺口很大,同时在充填料浆中含有一定的有害气体。因此采用全尾砂高浓度连续充填和选择适宜的高强度充填胶结材料是冬瓜山铜矿实现安全文明生产,保证矿山生产能力的前提。     

Industry characteristics,spatial competition and industrial concentration – evidence from China

We study the determinants of a geographic concentration of manufacturing industries in a spatial competition framework. Based on a panel data set of China during 1995–2003, we have the following findings. First, some traditional comparative advantages in production factors such as labor endowment are becoming the major factors that prevent the industrial concentration. Second, the major factors that promote geographic manufacturing concentration are technology spillover and industry linkage. Third, the effect of economy of scale on manufacturing concentration is significant, but the direction depends on how the concentration is measured.     

土地集中经营的有效方式探讨

目前我国粮食生产的经营规模仍然较小,其难点是土地集中困难.文章从土地转出方、土地转入方及土地流转机制不健全等方面分析土地集中困难的原因,提出有效的土地集中经营方式.在此基础上,提出稳定农民非农收入；完善农村社会保障体系；健全土地流转机制；降低土地流转风险等加强土地集中经营的对策建议.     

Industry Structure and Corporate Debt Maturity

We examine how industry competition affects firms’ choice of short‐term debt. We find that the percentage of short‐term debt is positively related to industry concentration at low levels of concentration, and inversely related to industry concentration at higher levels of concentration. This nonlinear relation is stronger in industries where firms are either more homogeneous or compete more aggressively. Moreover, we find that firms with shorter‐maturity debt are less aggressive than their rivals in the product market. The overall evidence suggests that although financial contracts alleviate agency problems, they exacerbate the risk of predation.     

产业集聚的机制与效应分析——以河南省数据为例

本文改进了Ellision和Glaeser定义的地理集中度指数,建立了产业集中度指数并对河南省2003-2009年20个产业的集聚程度进行了测算。我们的结论是,河南省20个产业在2003-2006年间总体集聚程度提高,在2006-2009年间集聚程度大幅下降;河南省产业集聚程度变动的机制与各产业拥有的垄断优势强弱呈正相关关系;这种垄断优势不一定是大企业所特有的,中小企业如果在技术、管理和品牌方面拥有垄断优势也会加强产业的集聚程度,相反大企业仅仅生产规模大而没有其他的垄断优势,则产业的集聚程度会减弱。Porterd和Krugman的产业集聚促进经济增长的理论并不适合所有的产业;产业集聚如果要促进产业和经济的增长,关键是要培育产业在全国范围内技术、资本、管理和品牌方面的垄断优势;河南省总体的垄断优势在全国有弱化的趋势,因此加紧培育产业的垄断优势就成为河南省乃至各地区经济发展的一项重要任务。     

20Kt/a煅烧焦回转窑耐高温下料溜管技术改造的研究

介绍在大港油田20Kt/a煅烧焦厂煅烧回转窑高温下料溜管的投产使用中,针对出现的焊口开裂、高温下管体变形等一系列问题,通过焊接应力分析、高温温差应力、溜管整体结构受力分析等方法和原理,从整体结构和焊接方法两方面进行技术改造,探讨出符合大港油田20Kt/a煅烧焦60米回转窑使用要求的耐高温下料溜管制作安装方法。