[Abstract]At present, the globalization process has experienced twists and turns due to the fact that the current governance system and economic structure are incompatible with the development of globalization. In the next 5-10 years, globalization will still be in a period of adjustment and demonstrate new features and trends.
[Abstract]The so-called new trade protectionism, also known as the “ultra trade protectionism” or “new mercantilism,” emerged in the early 1980s, and was mainly represented by non-tariff barriers such as anti-dumping, green barriers, technical barriers, and intellectual property protection. Unlike the traditional trade protectionism, especially the temporary protection measures adopted by the developing countries to protect their emerging industries, the new trade protectionism is taken by the developed countries mainly due to their desire to maintain its well-established political and economic interests. The outbreak of the financial crisis in 2008 brought great difficulties to the world economy, particularly the developed countries. In order to promote economic recovery and boost employment, the developed countries led by the United States have set off a new wave of trade protectionism. Since Trump became the president of the United States, he has vigorously promoted trade protectionism under the slogan “America First”. The new trend of the trade protectionism in the United States can be summarized as follows: the United States has become the world’s number one country for trade protectionism, the object and scope of trade protection have become more extensive, the trade protection methods are more diverse and hidden, the unilateralism has been pursued, and finally the trade protection policies and measures have been changed to comprehensive economic competition policy.
[Abstract]The General Secretary Xi Jinping pointed out that the current financial risk is the inevitable consequence of the superposition of the financial cyclical, structural and institutional factors. The Experience shows us that high leverage is the fundamental source of all financial fragility and is reflected in the real sector as over-indebtedness, while in the financial sector, it manifests itself in an over-expansion of credit. China’s financial risk has to be resolved urgently.
[Abstract]China is an advocate, contributor and practitioner of globalization. Faced with the new trend of globalization, China is actively leading the development of the new globalization and seeking for improvement in global economic governance, as well as playing a constructive role in the promotion of globalization.
[Abstract]In recent years, CCIEE has completed a number of field investigations in many poor areas across China by undertaking important research projects commissioned by both the central and local governments. The research team found that the authorities of all the poverty-stricken areas have made strategic plan to reduce poverty and great progress has been achieved.
[Abstract] The current round of globalization has brought such problems as the pursuit of capital for profit, the separation of finance and entities. The root causes of these problems include unbalanced distribution of benefits, lack of external compensation, the competition between different interest groups, conflicts between countries and so on. The development of future globalization needs to improve the international rules.
[Abstract]At the end of 2017, the United States passed the tax reduction bill and consequently, the corporate income tax rate is reduced from 35% to 21%, and the maximum personal income tax rate is reduced from 39.6% to 37%. The new tax rate will come into force from January 1, 2018 and will cause significant impact on the US economy.
[Abstract] The U.S. president Trump introduced a series of anti-free trade initiatives since he took office. Some people think that the United States is leading the new round of anti-globalization wave, while others believe that the United States still adheres to free trade and globalization. In fact, economic globalization is in the long-term interests of the United States and the real intention of the United States is to reshape the globalization with the aim of maximizing its interests.
[Abstract]With the development of modern information technologies such as the Internet, Internet of Things, cloud computing, cloud services and artificial intelligence, cross-border e-commerce has promoted significant innovation in international trade and created the next generation of trade: E-international trade. The E-international trade is an offline and online trading mode which is highly informative, intelligent, international and network-based. It is built on modern internet technology and cloud computing, relies on the clustering and management of the cross-border trading platform and brings consumers, producers, suppliers and brokers together. The E-international trade is a new type of trade and the next generation of trade. Just like the steam engine from the industrial revolution, the E-international trade broke the geographical obstacle of the traditional international trade, infiltrates the whole process of international trade and brings dramatic innovative changes.
[Abstract] China’s proposal of the Belt and Road Initiative has received positive response worldwide. At the BRICS Summit (Xia Men, China) held in September 2017, General Secretary Xi Jinping proposed that the Belt and Road will be extended to Latin America. Central America is an important part of the Latin American region and China will be able to promote a steady economic and diplomatic relations in central America as Panama and Costa Rica have established diplomatic relations with China. However, Central America is the weakest link of China’s global diplomatic strategy. As one of the seven Central American countries, Salvador is very keen on participating in the Belt and Road Initiative. Learning from China’s experience, Salvador is actively preparing for the establishment of a special economic zone. China should seize this opportunity to support its enterprises in to take part in the construction of the special economic zone.
[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.
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