Characteristic of the new policy system of Chinese foreign direct investment

Under the background of the ＂Go Global＂ strategy, a new policy system of FDI （Foreign Direct Investment） is established. It is constituted of three parts including the FDI approving policy, the FDI encouraging policy and the FDI supervising and servicing policy. And the new policy system emphasizes on the efficiency of FDI investors instead of the government control.     

举债经营适度性决策分析方法浅析——权益性资本与债务资本？…

筹资决策与分析是企业财务管理的核心内容之一，而举债经营是企业筹资的一种重要方式，在举债前有必要对其进行“能否举债”和“举债适度性”的分析，以找到举债经营收益与风险的平衡点，合理有效地确定权益资本与债务资本的最优结构，为提高企业投资收益，降低财务风险服务。     

关于重点龙头企业扶持政策绩效的思考

2000年,中央提出在全国选择一批有基础、有优势、有特色、有前景的龙头企业作为国家支持的重点,农业部等八部委随后认定了重点龙头企业,制定了扶持政策,在财政、税收、金融、外贸等方面给予了具体的扶持。经过两年多的发展,扶持政策的绩效如何?存在哪些问题?有哪些对策?本文就此作些分析与思考。一、已取得的绩效主要从两方面来体现:(一)重点龙头企业呈现良好的发展态势1、规模扩大,成为行业“领头羊”。重点龙头企业主要通过吸引工商资本投入、规范化改制申请上市、运用现代资本运作等方式扩大资产规模。2001年,第一批重点龙头企业(扣除监…     

Lessons from ＂Audit Storm＂ in China

The phenomenon of ＂Audit Storm＂ in China shows that transparency in government audit has been improved and increasing attention from the public has been paid to it, as government auditing and the mass media in China make joint effort to become a powerful source of supervision of government financial administration. Lessons drawn from Audit Storm show that more need to be done to systematically ensure public accountability in China, including improving the independence of China National Audit Office （CANO）, strengthening the manning of Chinese National People＇s Congress （NPC） and Ministry of Finance （MoF）, improving NPC and MoF joint cooperation with CNAO, insisting on more transparency in public funds allocation and management, the introduction of an effective responsibility system, and so on.     

Government Controlling and Firm Performance： An Empirical Study on China＇s Listed Companies

The current study compares the firm performance in China＇s listed companies by distinguishing the governance controlling of three types of state-shareholder. The results indicate that the performances in firms with direct government controlling are significantly weaker than other firms. In contrast, the performances in firms without direct government controlling are not significantly different. The results suggest that the introduction of market-oriented state-share holders is a desirable process during the transition economy in China.     

Research and Analysis of School-selection Fee in China

Senior high school education belongs to semipublic goods in China as the payout of senior high school is provided by public finance and market. Some key high schools ask for very high school-selection fee, which is a great burden on many families. And higher and higher school-selection fee is against social justice and endangers social environment＇s harmonious and steady. The paper analyzes the reasons and influences of school-selection fee, and points out some suggestions.     

A Proposal for Progressively Integrating Illiquid Shares and Liquid Shares in Chinese Stock Markets

This paper classifies the market barriers which cause the division of the Chinese stock markets into two categories： the barriers for trading across markets and the barriers for capital transference across markets. It critically reviews various plans and Chinese historical practices which aimed to remove the barriers, and brings forward a proposal for progressively integrating illiquid shares and liquid shares in Chinese stock markets.