[Abstract]In recent years, the conflicts in the strategic and security fields between China, Japan and Korea have affected their economic and trade cooperation adversely. However, the vigorous development of new industries such as artificial intelligence, 3D printing and the digital economy has also brought more new opportunities for the economic and trade cooperation between the three countries, and cooperation in manufacturing is still the key area for cooperation
[Abstract] On the report of the 19th CPC National Congress, the General Secretary Xi Jinping pointed out that in order to implement China’s strategy of building a great healthcare industry, we should improve the policy for national healthcare, and provide comprehensive health services to the people. This is a major move to meet the new requirement and changes of Chinese society in the new era and to meet the people's growing needs for a better life. Speeding up the construction of a national demonstration area of large-scale healthcare industry, carrying out pilot project and deepening reform will ensure a smooth implementation of China strategy of healthcare.
[Abstract]The report of the 19th National Congress of the Communist Party of China proposed to build a strong China with high-quality economic development. Also, the Central Economic Work Conference noted that China should shift its focus from rapid development to high-quality development. High-quality development is a state of high efficiency, high effectiveness, coordination and balance, representing the development concept of fairness and justice. The goal of high-quality development is to provide high-quality products and services to meet people’s growing need for a better life and lay a solid foundation for the realization of the "two centuries" goals and the great rejuvenation of the Chinese nation.
[Abstract]The developed countries such as the United States, Germany, Sweden, Japan and Korea have different experiences in supporting the real economy. By analyzing their industrial policies, financial services industry and the development of advantageous industries, we can draw lessons to support the development of China’s real economy.
[Abstract]Lithium material has become the first choice in the battery manufacturing due to its small size, light weight and large capacity, and this trend is likely to remain until the arrival of a disruptive technology. In 2016, China sold 648,000 units of electric vehicles and accounted for over 40% of the global sales, making it the largest market for the electric vehicle in the world. Supported by domestic policies, China's new energy automotive industry, which is based on lithium batteries, has entered a stage of large-scale development. As the market continues to develop rapidly, we need to make great arrangement and investment in the core resources and technologies of the lithium battery in order to cope with the fiercer international competition in the future.
[Abstract] The growth rate of global productivity has started to decline in the new century. The total factor productivity of some countries even experienced negative growth after the 2008 financial crisis, which is very rare since the industrial revolution. Looking to the future, a new round of technological industrial revolution will increase global productivity significantly as it continues to make progress.
[Abstract]In recent years, some of the foreign-funded companies in China laid off many of their employees or even shut down their business. As a result, some people claim that the foreign capital is withdrawing from China and China's investment environment is deteriorating, making people worry about China’s advantage in attracting foreign capital. Statistically, the growth of China's foreign direct investment has slowed down, but the structure has been optimized and there is no large-scale withdrawal of foreign capital. In response to the profound changes in the international and domestic economic situations, China needs to deepen its reforms in the fields of services industry, opening up, investment facilitation and intellectual property protection in order to create a sound business environment in the future.
[Abstract]Rejuvenating the real economy and preventing it from deconsolidating to the virtual economy has become the social consensus. Therefore, how to clarify the relationship between the real economy and virtual economy has become an urgent task.
[Abstract]The high leverage rate and debt level of enterprises have increased sharply over recent years. In particular, some large state-owned enterprises have experienced serious problem in their operation. In 2015, the average debt ratio was as high as 68%, which increased the debt risk of SOEs. In response, the State Council released the “Opinions on Actively and Steadily Decreasing Corporate Leverage” and proposed that the enterprises should conduct asset securitization business proactively, including the securitization of property rights, commercial property and infrastructure. During our fact-finding trip, however, the research team found that the majority of the SOEs that have carried out securitization of assets are merely exploring ways of broadening their financing channels, and hence made little progress in deleveraging and cost reduction.
[Abstract] There have been a lot of changes in the international energy market, for example, the restructuring of the global energy governance system is accelerating, and the inward-and outward-cooperation are making great progress. Therefore, we should fully understand the new changes and trends in the international energy cooperation, take the "Belt and Road Initiative" as a breakthrough point and carry out more active international cooperation in energy resources so as to create a community of shared interest, a community of shared responsibility and a community of shared-future.
[Abstract]Securitization refers to a structured financing method whereby promoters sell assets that lack liquidity but have predictable cash flow to special purpose vehicles (SPVs), obtain financing through reorganization and credit enhancement and improve the liquidity of assets. Securitization plays an important role in helping SOEs to reduce costs and deleveraging, improve liquidity and business performance. At the same time, asset securitization can better facilitate the performance of business class II and nonprofit companies as compared with corporate securitization. In addition, asset securitization is also an important starting point for investment and operation companies to promote the transformation of state-owned capital and improve the efficiency of capital allocation. In summary, securitization is not only an important management tool, but also a reform tool.
[Abstract] Deepening the international energy cooperation with the help of the Belt and Road provides China’s energy enterprises with an important opportunity to expand their business globally and helps China to conduct further opening up. Based on the analysis of the opportunities for energy cooperation along the Belt and Road, we have made the following tentative plans.
[Abstract]The Belt and Road region has some of the major global energy producers and consumers, who could be the important partners of China’s energy cooperation in the future. The aim of the energy cooperation along the belt and rod region is to jointly create an inclusive and mutually beneficial energy community. To achieve this goal, we should promote the integration of regional markets, commit ourselves to building a regional market for energy trading and improve global energy governance.
[Abstract] At the National Congress of the 19th CPC, the government proposed to increase the suppliers of residential housing, encourage house-renting and adopt multiple measures to ensure that everyone has a place to live. Over recent years, the international housing system has made continuous progress and we can draw experience from it to address China’s housing problems.
[Abstract] During the past years, China has conducted continuous reform of its rural collective property system. In 2014, China started a pilot project to empower the shareholding power to peasant’s collective assets. In December 2016, the central committee of the CPC and the state council released the “Suggestions on the steady promotion of rural collective property rights reform”, expanding the number of pilot reform town, city, and district from current the 29 to 100. We have accumulated a lot of experience from this reform, however, some issues still remain and should be dealt with carefully.
[Abstract] Over recent years, some major developed economies such as the United States, the European Union and Japan have adopted various policy initiatives to promote their national big data strategy. China can learn from their successful experience.
[Abstract] At present, China has entered a critical period of fighting poverty which will decide whether or not China can achieve the strategic goal of building a well-off society in an all-round way. The report of the 19th National Congress of the CPC pointed out that decisive progress has been made for the poor in recent years. For instance, more than 60 million people have been lifted out of poverty, and the poverty rate has dropped from 10.2% to well below 4%. However, the task of fighting poverty remains an arduous one. At the end of 2016, there are still more than 43 million poor people living in China’s rural areas, and to get all the poor people out of poverty has become a top priority of the rural administrations. Although the central and local governments have invested huge amounts of money and tremendous administrative resources in implementing the policy of aiding the poor, the concrete implementation still depends on the completion of the grassroots cadres. Due to various problems, the task of poverty alleviation has put grassroots cadres under enormous pressure and triggered new conflicts between the cadres and masses, resulting in ineffective investment of resources. Therefore, we should start with optimizing the top-level design and take measures to crack down on the grass-roots dilemma.
[Abstract] The asset securitization is the focus of restructuring the asset of the military enterprises, as it allows the asset to be sold in the form of shares or bond. This process will increase the liquidity of military asset, bring a market-based institution to the national defense industry, further expand the financial channels for the national defense industry, reduce the financial burden of the government, help corporations to improve their asset management, solve the funding bottleneck and push forward civil-military integration.
[Abstract] With the rapid increase of the elderly people, premature aging has become an urging problem of China. Due to the increasing number of disabled seniors, seniors with dementia and the so-called empty nest elderly, China’s aging services industry faces significant challenges. For example, the severe shortage of qualified personnel cannot meet the demand of the aging industry. To deal with these problems, we should train enough qualified personnel for the aging services industry.
[Abstract] The assimilation problem is a great challenge facing the new energy development of China. To meet that challenge, the new energy producers should deploy the energy storage facilities to the user-side. By doing so, they will be able to reduce the mismatch between the power producers and users, solve the problem of impeded power grid channel and change the instant synchronization of production, transportation and consumption. Furthermore, they will be able to assimilate clean energy, satisfy the demand of power grid, break the bottleneck of assimilation, and increase the share of clean energy consumption.
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