[Abstract] Recently, a research team of the China Center for International Economic Exchanges conducted a fact-finding trip in the Yangtze River Delta, investigating the successful implementation of the “going out” and “bringing in” strategy. Some enterprises have brought in advanced technology and management experience through the “going out” strategy, while some enterprises have expanded their business abroad by cooperating with foreign-funded enterprises. However, they also face many difficulties when implementing these strategies. In response, we should make the best use of the “going out” and “bringing in” strategies, help Chinese enterprises integrate themselves into the global industrial chain, value chain and innovation chain, and make them more competitive in international cooperation and competition.
[Abstract] With the continuous development of the Belt and Road and the new open economic system, China’s participation in the international industrial chain has achieved positive results. We should take specific measures and move the industry to the middle and high-end industrial chain, and further improve the quality of China’s participation in the international industrial chain.
[Abstract] Smederevo steel plant is the largest steel company in Serbia with more than 5,000 employees. The company was in big troubles due to the civil war and poor management. The United Steel Group once acquired the Smederevo steel plant, but it did not manage to get the company out of trouble and created a lot of labor-management problems. In 2016, China’s Hebei Iron and Steel Group invested RMB 340 million to acquire the Smederevo steel plant and sent a team of experienced managers and technicians to manage the plant. Now, the Smederevo steel plant has become one of the most competitive companies in the European steel market, and 80% of its products are being sold to the EU countries, the income level of the enterprise’s workers has been significantly improved. As the world’s third largest steel company, Hebei Steel’s successful experience in overseas acquisitions is worth learning.
[Abstract]Recently, the China Center for International Economic Exchanges organized an expert group to visit the United States and exchanged views with famous American scholars on the latest developments in the China-US economic and trade relations. Experts and scholars from many influential organizations participated in the seminars, including think tanks representing the Democratic and Republican parties, Council on Foreign Relations, the Cato Institute, the Kissinger Institute on China and the United States at the Woodrow Wilson Center, the American Enterprise Institute, and the Carnegie Endowment for International Peace.
[Abstract]As one of the pillar industries of China’s economic development, the growth of the automobile manufacturing industry in recent years increased to more than double the growth rate of Gross Domestic Product (GDP). As of the end of 2017, China’s production capacity of vehicles exceeded 63 million units, but the sales of automobiles during the same period were less than 30 million units. In other words, the growth of new car sales has reached a stagnation. The export of second-hand car will indirectly enhance the domestic car purchase, accelerate circulation in the new car market, and effectively improve the capacity utilization of car enterprises. The export of used cars will help the entire industrial chain such as spare parts, insurance, and auto finance. The trade of used car can enhance vehicle replacement and optimize the automobile market structure continuously, which is conducive to the automotive industry and macroeconomic development.
[Abstract]At present, the United States is curbing the development of China’s high-tech industry, the EU has set up foreign acquisition reviewing mechanisms, together with Japan, they made a complaint to the World Trade Organization (WTO) about China’s “discriminatory regulations on technology patent licensing”. As a result, it has become increasingly difficult for China to acquire advanced foreign technology and brands through making cross-border mergers and acquisitions or invest in foreign high-tech enterprises and start-ups. The establishment of an institutional mechanism for independent innovation is the key to implement high-quality development, and improve the scientific and technological progress.
[Abstract] China’s socialist market economy implements a basic economic system in which the public ownership is the mainstay and the multiple forms of ownership are developed together. The state-owned economy plays a leading role means and is vital for the development of the national economy. It should focus on quality not just its proportion in the national economy. The control and influence of state-owned or state-controlled enterprises can be summarized in the following four aspects. First, the control of natural monopoly or monopoly on resource-based industries. Secondly, the control of important public goods and the industries that are vital to the national economy. Thirdly, the control of pillar industries or pilot industries. Lastly, the control of the special high-tech enterprises and important military enterprises. We must improve China’s basic economic system and adopt the changes in the major social contradictions, focus on solving problems of unbalanced development, vigorously improve the quality and efficiency of economic development, and meet people’s growing needs in the aspects of economy, politics, culture, social, and ecology.
[Abstract] The ownership of the means of production is the foundation and core of the entire socio-economic system. With further reform of the socialist market economy with Chinese characteristics, China’s ownership structure has changed continuously since the 18th National Congress of the Communist Party of China. The public and non-public ownership are the two basic forms of ownership in China, and the mixed ownership is becoming another important form. Generally speaking, China’s public economy includes the state-owned economy and the collective economy; the non-public economy covers the individual economy, the private economy, and the foreign-funded economy; and the mixed-ownership economy is formed by the cross-shareholding of state-owned capital, collective capital, and non-public capital, which is an important reflection of China’s basic economic system. At present, the state-owned capital in the public economy is shifting to important industries and key areas, while the non-public economy continues to develop, and the proportion of the mixed-ownership has increased rapidly.
[Abstract] China’s net import of agricultural products has continued to increase since 2004. In 2007, China officially proposed that the agricultural industry should start to implement the strategy of “go global”, make the best use of the domestic and international markets and resources, change itself from passive imports to active imports so as to improve the quality and efficiency of the domestic agricultural industry. Although the private enterprises have currently become the main force of the “go global” strategy, they are still weak in terms of industrial layout, business operation and risk prevention. The New Hope Group is one of the earliest private enterprises to expand its business globally, which has successfully established an industrial network for its international agricultural and animal husbandry and achieved good economic and social benefits. Under the background of China’s economic transformation from rapid growth to high-quality development and further opening up, it is necessary for other private agricultural enterprises to draw lessons from the experience of the New Hope Group in international expansion.
[Abstract] In December 2017, China’s President Xi Jinping and Myanmar’s State Counselor Aung San Suu Kyi reached an important consensus in Beijing on building the China-Myanmar economic corridor. The China-Myanmar Economic Corridor (hereinafter referred to as “the corridor”) is an important part of the “Belt and Road” initiative and the China-Indochina Economic Corridor. The corridor will help to promote the interconnection of infrastructure between China and Myanmar and other neighboring countries, boost economic development along the corridor and hence to lay a good foundation for building a community with a shared future for China and Myanmar.
[Abstract] The report of the 19th National Congress of the Communist Party of China and the “No. 1 central document” proposed to cultivate new agricultural entities and new professional farmers (hereinafter referred to as “two new types”). The research team of the China Center for International Economic Exchanges (CCIEE) went to Jilin province and conducted a special investigation on the “two new types”. The research team held discussions with relevant government departments, the education department, and leading enterprises, cooperatives, and family farms. They also visited various farmers to learn more about the production and management of the local agriculture and the targeted poverty alleviation. In summary, Jilin Province has boosted agricultural efficiency and increased farmers’ income by making more efforts in cultivating the “two new types”.
[Abstract] The advanced manufacturing industry has developed rapidly around the world during recent years. Among the major developed economies, the United States has consolidated its foundation of the advanced manufacturing by relying on the national innovation network. The UK has implemented the high-end manufacturing strategy in key industries and areas. The Japanese government has given great support and guidance to build a smart and information-based manufacturing. All these practices are worth learning.
[Abstract] It is widely recognized that the social security contributions of Chinese enterprises are fairly high, especially the basic pension payment they have to pay. China has already lowered the social security rate four times since 2015, but there is still room for further reduction. The continuation of the high base and payment of China’s social security will not just hinder economic growth but also cause moral hazard. Therefore, we should actively create conditions to reduce social security contribution, especially the basic pension payment.
[Abstract] The Japan-US trade frictions happened between the 1960s and 1990s involved mainly the fiber products, steel, home appliances, automobiles, semiconductors, and communications equipment and Japan’s responses have both merits and disadvantages. In order to draw lessons from Japan’s experience, a research team of China Center for International Economic Exchanges visited relevant organizations in Japan to review Japan’s response to the trade frictions with the US and draw lessons from it.
[Abstract] The Tax Cuts and Job Act of 2017 signed by president Trump came into effect on January 1, 2018. Generally speaking, the act covers four main areas: reducing tax for middle-class families; improving the competitiveness of American companies; creating jobs, increasing wages and the investment in the United States; simplifying the tax law and making it fairer.
[Abstract] Recently, the CCIEE research team of the “40 years of reform and opening up” conducted a fact-finding trip in Binhai New District of Tianjin and visited industrial parks, local companies and the Sino-Singapore ecological city. The 40 years’ reform and opening up of Binhai new district is a good reflection of China’s reform and opening up and we need to summarize the successful experience and practice from its development, which is of great significance for promoting further reform and opening up.
[Abstract]From April 16 to 20, 2018, the research team of the “China-Japan-Korea Economic Development Trend” conducted a fact-finding trip in Japan and exchanged views with their Japanese counterpart on Japan-U.S. trade frictions, Japan’s industrial upgrading, and the how dos the US contain China’s strategy of Made in 2025 by imposing a ban on ZTE. Furthermore, the research team visited different organizations, such as the Global Industrial and Social Progress Research Institute, Nomura Institute of Capital Market Research, Japan External Trade Organization, and the Global Infrastructure Facility (GIF).
[Abstract] The United States is no longer a leader of globalization and has begun to pursue the policy of America First since Trump took office. Now, the US has become a destroyer of multilateralism and globalization and its global strategy has undergone significant changes. In response, China must change at times to deal with these changes.
[Abstract] As emerging developing countries, the BRICS economies are highly complementary to each other and have huge potential for cooperation. In recent years, the BRICS countries have deepened their cooperation in the aspects of production capacity, which has injected new impetus into the world economic recovery and the growth of emerging market countries. The BRICS countries are also the preferred partners of China when it comes to capacity cooperation. For example, the scale of cooperation between China and the rest of the BRICS countries has been continuously expanded, the mode of cooperation has become more diversified, the policies for cooperation have been improved gradually, and the cooperation mechanism has started to take shape.
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