[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.
[Abstract] The US President Trump has repeatedly provoked China recently. After signing an executive order to impose tough tariffs on imported steel and aluminum products on March 16th, he proposed the penalty tariffs on $50 billion of Chinese imports based on the findings of the 301 investigation. Furthermore, the US will restrict Chinese companies’ mergers and acquisitions. From these newly-imposed tariffs and the reports issued by the United States at the end of last year, we can see the obvious changes in the US policies for China, which surely worth our attention and study.
[Abstract] In accordance with the section 232 of the Trade Extension Act of 1962, the US President Trump formally signed an executive order on March 8th, to impose tariffs on imported steel and aluminum on the grounds that other countries’ trade practices endanger American national security, which provoked a new round of international trade war.
[Abstract] The Belt and Road initiative has provided us with a historical opportunity to respond to the changes in the supply-demand relationship of agricultural products, deepen the supply-side structural reform in agriculture, and promote international agricultural cooperation. Apart from that, it will help the vertical development of agricultural cooperation and solve the structural problems facing China’s agriculture.
[Abstract]The rapid development of the digital economy has profoundly changed the production and lifestyle of our society. Since the CPC 18th National Congress, the Central Committee and the State Council have attached great importance to the digital economy and launched a series of major strategies and policies such as the “Internet Plus Action”, “Outline for the Development of National Informatization” and “Outline for the Promotion of Big Data Development”. The digital economy has become the most active field in China’s economic development. However, China’s software industry also faces some new problems during its accelerated transformation and upgrading in the era of the digital economy.
[Abstract]The Trump’s new tax reform that is regarded as the “US largest tax cut in 30 years” will not only have a wide impact on the US economy, but also trigger a chain reaction globally. Under the background of the global competitive tax cuts and the wave of global taxation reform, China should speed up the reform of its fiscal and taxation systems and make plans for enhancing its competitiveness.
[Abstract]In recent years, the emergence of new technological revolutions and the rise of global security issues have led to a continuous increase in the development and production costs of high-tech weaponry and equipment. However, the huge cost of national defense procurement has over-burdened many countries, therefore, there is an urgent need for the military industry to restructure industrial products and the R&D system, get rid of the predicament of over-size and low efficiency, and to establish a flexible military-civilian integration. This will not only satisfy the national security needs, but also promote national economic development. Currently, all major military countries have adjusted their strategies and policies for military industrial development, formulated new development plans, reformed production systems and management methods, restructured industrial product and formed new military industries, so as to create new development opportunities for the national economy and defense.
[Abstract]In 2017, the world economy has ushered into the most synchronized round of recovery since the breakout of the financial crisis. The cyclical factors and endogenous growth drivers have become stronger, and the global trade growth has again surpassed global economic growth. However, the deep-seated structural factors that affect the global trading system have not been changed, the incoordination and uncertainty of macroeconomic policies are likely to be strengthened, and trade protectionism may fully escalate amid the trend of anti-globalization. It is expected that in 2018 and the coming years, the sustainability and growth of global trade recovery will be restrained and face continuous competitive challenge.
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