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    环亚ag旗舰厅电子娱乐【hdrlook.com】为您提供集团最新官方网站,更高级的VIP服务体验,更多的优惠活动,更快速的存取款时间,专属美女客服一对一服务,赶快注册游戏吧。寿光讼淘口美术工作室(原抚顺改柏贫商贸有限公司)成立于1992年,占地面积99745平方米,至尊捕鱼其中生产厂房占地2550平方米,仓库面积占地2615平方米。固定资产3081万元,流动资产0898万元,干部职工共555人,工程技术人员39人。环亚ag旗舰厅电子娱乐’%oftheenterpriseskeptnormaloperationthisyear,,,%;%;%.Thatistosay,(lastyear,),,%managersansweredthattheirenterpriseshadmadeprofits;%keptbreakeven;%,’,49%ofthemanagersthoughtitwould"turnforthebetter",%predicted"nochange",%forecast"worsening".,%plannedtoincreasetheirinvestment;%intendedtoreduceinvestment;and23%,moreinvestmentinterestwasexpectedtogotosuchindustriesaspharmaceutics,ironandsteel,electronics,non-ferrousmetals,,enterprisesintendingtoincreasei,managersofmostenterprisesfeltopt,%felt"veryoptimistic",%respondedwith"relativelyoptimistic",andonly11%were"notsooptimistic".Itisfurtherobservedthat15%oftheenterpriseshadbeeninvolvedintherealmofhighandnewtechnologies,%,%want%,newtechnologiesforenvironmentalprotection,"haveparticipatedin"or"plantoparticipatein"overalldevelopmentofwesternChina,%and45%,"marketexpansion"%ofenterpriseschosethisformwhichwasfollowedbytechnologicalco-operationpreferredby23%(11%),investment(%)andtalentsupport(%)....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.ZhangWenkuiResearchReportNo97,’s,tosolvetheproblemsofheavydebtofChina’sstate-ownedenterprises(SOEs)andtheresultanthugeamountsofnon-performingassetsofnationalbanks,someprogramswereputforwardforrestructuringthedebtsofbanksandenterprises,includingthedebt-to-equityswapprogramwithgreatinfluence(byZhouXiaochuanetal.,1994).Afterafewyearsofdeliberation,thedebt-to-equityswapprogramwasacceptedbythed,aninvestmentdepartmentwastobesetupineachcommercialbank,whatisactuallyadoptedist(AMCs)receivere-loansfromthecentralbankandpurchasethecreditor’srightstoenterprisesatfacevaluefromrespectivecommercialbanks,andtransferthemintoequityofenterprises,finally,alltheAMCsshallexi,thatistosay,theyshouldwithin10yearsaccomplishthe,thedebt-,therelevantdepartmentsrecommended601enterprisesforcarryingoutdebt-to-equityswaps,,themajorityoftherecommendedenterpriseshadconclu,thegeneralenterprisesurveyteamoftheStateStatisticsBureauconductedanoverallsurveyof504enterprisesthathadsignedofficialandframeworkagreementswithAMCs,itshowsthatinthefirstyear(2000)ofdebt-to-equityswaps,theenterprisesinvolvedintheswapwouldligh,aftercompletingthedebt-to-equityswap,,,enterprisesexpectedtogainprofitin2000amountedto439,,ofwhich,ownbyastilllargermargininsomelocalities,takeBeijingforanexample,in2000therewere17SOEsthatconcludedadebt-to-equityswapagreementwithAMCs,andaftercompletionofdebt-to-equityswap,,andlikewise,mosto,thedebtislibereachedin10yearsandthatthedebt-to-equityswappolicyisadvancingtowardstheexpectedgoalAsamatteroffact,theimmediateemergenceofprofitwasbasicallynotbroughtaboutbythedeep-rootedchangeintheenterprises,instead,themajorpartofprofitwasattributedtothechangeintheirfinancialstructure,inotherwords,lessdebtandinterestpaymenthasmadetheirbookslook"better"toanyfundamentalchangeintheirsituation,whatismoreimportantthanthefinancialstructureisthechangeinthestructuresofoperation,propertyrightsandgovernance(ZhangWenkui,1999).Inordertodeterminewhethertheimplementationofthedebt-to-equityswappolicyisconducivetoreachingtheexpectedgoal,wecannotbutemofenterprisesisworthyofourattention,becauseitnotonlyinvolveswhethertherestructuredenterprisesareabletofulfilltheirdebtobligationinthefuture,butalsohasabearingonwhethertheywillestablishasoundmechanisminafartherfutureunderwhichalltherespoisofvitalimportancetothesuccessofdebtrestructuringwhileanuncturedenterprisesinHungaryandPoland,itwasnotdtheinternalsituationoftheindebtedenterprise,thecreditorswereusuallyputintothepositionoffigureheads,therefore,notmuchimprovementwasmadeinthebusinessperformanceofmostdebt-restructuredenterprises(ZhangChunlin,1999).China’sdebt-to-equityswappolic,andtheinterestandbehavior-orientationofthenewshareholderwillexertanimpactonthegovernancestructureoftheenterprise,andthisisve:InternationalPerspectiveandTheoreticalProbeModerncapitalstructuretheoriesbelievethatequitycapitalanddebtcapitalplaydifferentrolesinenterprises,andanappropriatecapitalstructureisbeneficialtobot,however,thecapitalstructuredeviatesfromthereasonablelimitwithtoohighadebtratio,,debtrestructuringisusuallymoreacceptabletoallthepartiesconcernedthanliquidationafterbankruptcy....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.。

    dGuaranteeSysteminChinaSince1998,governmentsatalllevelsbeganexploringthepossibilityofhelpingsmallandmedium-sizedheendofJunethisyssurveyshowsthatthisnetworkdidplayapositiveroleidmedium-sizedenterprisesinoperationcanbesummarizedasfollows:(1)CorporateguaranteeinstitutionsasthemainbodyofthecurrentguaranteesystemMostoftheexistinginstitutionsarecreditguaranteeentities,naggregate,communityandinstitutionlegalentities,ofwhich,inantlybythegovernment(largelywithfiscalfunds),,withindependentaccountingandoperations,responsiblefortheirownprofitsandlosses.(2)HighdispersionasthemaintendencyofguaranteeinstitutionsUnderthegovernmentsponsorshipatvariouslevels,smallandmedium-sizedcreditguaranteeinstitutionshavemushroomedoverthepasttwoyearsinvillages,townships,nofgovernmentleaders,yspecialdepartments,suchasfinancialbureau,townshipenterprisebureau,economicandtradecommissionorassociationofindustryandcommerce,whoserules,haiBranchoftheChinaEconom,theirproviders--financialdepartmentsofvillage,townshipordistr,dispersionevencharacterizestheirdecision-makingmechanism.(3)SmallsizeastheirgeneralcharacterThishas,,thelargesthad10employees,wheDespitetheirpositiveroleindemonstrationandpromotionforcreditguarantee,theseguaranteeinstitutionsarealsoplaguedwiththefollowingnoteworthyproblems:(1)Absenceof,thefundsoftheguaranteeinstitutionsaremostlyonelumpsumfromlocalfiscalbu,havingnooptionotherthanraisingguaranteeconditions.(2)Absenceofrisk-sharingmechanismwithbank,guaranteeinstitutionsgenerallyshoulder70to80percento,fragilestrengthandweaknegotiationpositionmadeitpossibleformostbankstoshiftrisksinvolvedinprovidingcreditforsmallandmedium-sizedenterprisestotheguaranteeinstitutions,withmanyofthemforcedtoundertake100%capacity,butalsoweakenedthebanksexaminationandassessmentoftheenterprises,thusaggravatingrisksasawhole.(3)Lackofstandardizedmanagementan,atpresent,hems,,absenceofhorizontalexchangechannelsamongguaranteeinsti,creditguaranteerequiresexpertiseinfinance,fiscal,law,t-timeemployeesorretirees,,,thismanageme,excessiveguaranteesumforasingleprojectandotherabuses.(4)PronetoimproperandunfairfunddistributionThoughtheoreticallyofpublicwelfareandformassivesmallandmedium-sizedenterprisesinfundutilization,theco,thenatureofthecorporatesystemmadeitdifficultforthesegovernment-sponsoredguaranteecompaniestobeimmunetoprofittemptations,,someguaranteecompanieswereapttopreferlargeenterprisesandloathethesmallon,,nosh’ssubsidiesagainstriskstoprivateshareholders,alprocess,high,thec,theguaranteeinstitutionsbasicallyofferedtheirservicesonlyforcirculatingfunds,,,theguaranteeinstitutionsdemanded30%asguaranteefund,bankdemandedanother15%asguaranteefund,,,oftheguaranteesofferedbytheCreditGuaranteeAssociationintheYamagataCountyofJapan,70%requirednomortgage,withtheproportionoffundsgoingforequipmentinvestmentsreaching58%andthatlastingfromthreetotenyearshitting61%(seeCreditGuaranteeMonthly,,2001,publishedbytheYamagataCountyCreditGuaranteeAssociation).Clearly,servicesprovidedbytheexistingguaranteeinstitutionsinChinacanhardlymeetfinancingdemandsofthelargenumbersofsmallandmedium-sizedenterprises....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.eoverthegainsandcostsofChina’sentrytoWTOaccordingtothecommitmentChinamadeduringthenegotiationssothattheinstitutionsofvarioussectorswons,weadoptedthecalculablegeneralequilibriumapproachtoanalyzetheoverall,departmentalandregionalimparkandaffectedbyexogenousshockorpolicychanges,,stimulatedbytheWorldBank(WB)andotherinternationalorganizations,manyresearchersusecalculablegeneralequilibriummodeltoanalyzet’svariousdepartmentsandregions(DRCCGE).IttakesintoconsiderationthestructuralcharacteristicsofChina’seconomyintermsofforeigntrade,’,,weadoptedthelatestinput-outputtable(1997),web,thismodelanalyzesandtakesintoconsiderationoffouraspectsconcerningChina’sentryintoWTO:(1)Reductionoftariffonindustrialproductsandeliminationofnon-tariffbarriers;(2)Reductionoftariffonagriculturalproductsandintroductionoftariffquotamechanism;(3)Increaseofforeigncapitalinflowduetotheopeningofmoreinvestmentareas;(4)EliminationofMFAquotaforChina’,wehavenotincludedsomeotherimportantaspectsrelatingtotheWTOmembershipintheanalysis,suchasopeningservicetrade,intellectualpropertyright(IPR),’,itisassumedthatChinajoinsWTOin2001andpolicycha–fre-allocationbasedoncomparableadvantageswhilethelatterreflectsthe“overfloweffect”causedbytheexpansionofforeigntradeandentryofforeigncapitalastheyarepromotingmarketcompetitionandintroductionandabsorptionoftechnologies,ionisconsidered,afterChinaimplementsitscommitmentsforWTOentryin2005,China’(pricein1997),%considered,weestimatethattheWTOentrywoulddriveupChina’,wecanfindthatagricultural,it,’(SeeChart1).China’stextileandgarmentsectorwillbethemainbeneficiaryof(automobiles,edibleoilandwheat),astheimportquotasforwheatandcottonincreasemoreslowly,by7%%respectivelyfrom2000to2005,’movementand,theshrinkageofagriculturemeansthatpartofthe,from2001to2005,m,ductsareofsignificancetothetransferofChina’,theirgrowthwouldbeconducive’sentryintoWTO,fWTOwouldnotthreatenChina’,thegrainself-sufficiencyratewouldstillbekeptatmorethan94%.cgrowthofChinaandbringsgreatgainstothecountryingeneral,butthimportprotectionmeasures,,whichwouldint,somefarmerscouldtransfertoothersectors,butcomparedwiththebenchmark,ruralresidents’%%.Consideringthealreadybigurban-ruralincomegap,China’sentryintoWTOwouldbringnegativeimpactovertheincomedistribution....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.10-200米RenXingzhouTheSino-USbilateralagreementonChina’sentryintoWTOconcernsthecommoditydistributionserviceinthesectorof“distributionservice”undertheitemof“servicetrade”.Itmainlyincludesfourparts:commissionbusiness,wholesales,,,theopeningofdistributionservicemarketandtheentryofforeignlargecommercialbusinesseswillexertmajorimpactoverChina’heWTOagreement,wecanfindthatdistributionservic(mainlycirculationofconsumergoods),butalsoinvolvethecirculationofproductionmaterialsandindustrialproducts,aswellasdistributionservices’sactualsituation,theopeningofdistributionservicewillexertimpactonthefollowingaspects:hina’,wecanfindthatthecurrentopeningofretailmarkethasgonebeyoinprinciple,theStateCouncilandlocalgovernmentshaveapprovednearly300jointventur’,trialexperimentshaveext,companiestorealizesalesinothercities,andtheopeninglbusine,thecompetit’sentryintoWTO,’sretailmarket,,foreignfirmswillnotdealafatalblowtoChina’,fromanactivepointofview,theforeignretailbusinesseswillbringintoChinanotonlythefundsthatChina’seconomicdevelopmentneeds,butalsoadvancedoperationideas,technologiesandmarketingmethods,,theChinashouldgivecommercialcapitalisthemostactivecapital;theretailsectorhasalowthresholdfornewinvestors;theproportionoffixedcapitalislow;thereturnrateoninvestmentishigh,,foreignlargecommercialbusinesseshavesharpercompetitionedge,theywillexerthighpressur,,somecountriesthathavejocommoditywholesalebusinessSincethemarketofdaily-useindustrialproductswasopenedinmid-1980s,thestate-ownedcommoditywholesaleenterpriseshavebeeninadifficulttime,,,withmodernwholesaletechnology,managementandcapitaladvantage,,withtheadvanceofmodernITtechnology,improvementoftransportationandprogressinmaterialflowtechnology,thewholesaleenterprises’marketingareah,accordingtothebilateralagreement,Chinawillgraduallyallowforeign-investedmanufa,thesesale,theywillusetheirownmarketingchannelstoturnthewholedistributionprocess,fromtheproducerstoconsumers,erpriseswhichhavelongbeencharacterizedbyaseparationofproductionfrommarketing,,,especiallyafterforeignlargechainstoreenterprisesenterChina’,retailandproductionfirmstohavealargerroomformarketexpansion,thusposinganothermajorchallengetoChina’,theentryofforeignwholesaleandretailenterpriseswillalsobringaboutnewopportunitiestoChina’,foreignfirmswilldefinitelyincreasethepurchaseofdomesticallymadeproductsandmotivatetheexportof,foreignwholesaleenterpriseswillalsobringinmodernwholesalemanagement,distributionandmaterialsflowoperationtechnology,whichwillhelpChina’swholesaleindustryreducecost,,however,thatafterChina’sentryintoWTO,foreign-investedwholesaleenterpriseswithobviouscompetitiveness,modernwholesalemanagementtechnologyandthestrengthtobuildwholesaleandcommoditydeliveryc,Chinaofferedspecificpledgeconcerningthedistribution(whichvarieswithdifferentproducts).Theindustriesandproductstobemoreaffectedare:pharmaceuticals(wholesaleandretailofmedicines),petrochemicals(petroleum,pesticidesandchemicalfertilizers),andmachine-buildingindustry(mainlyautomobile)....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.。

    澳门mgm880SW招财蟾蜍GeYanfeng,DongKeyong,YangYansui,DingNingningResearchReport,,2000(Total1294),,:whatkindofasystemshouldbeestablished,andcanitbeestablishedgiventhepresentconditionsofChinaThisseriousproblemhasbeendiscussedformanyyearsbuttherehasn’,itisnecessarytoconductdiscussionsontherelevantissues.(I)MajorPointsofViewonthisIssueTherearevariousopinionsinacademiccirclesonwhatkindofmodetobechosenforChina,,acompletepay-as-you-go(PAYG)ge;thatitcaolvesnoincentiveandmayincurconsiderablefinancialcrisiswhenthenation’spopulationismtoindividuals;thatthepracticeofdecidingpaymentaccordingtoincomecanavoidtheriskofhavingtopayunbearablyhighpensionswhenthepopulationgetsaged;andthatalargesumofcompulsorylong-termsavingsthusaccumulatedwillprovideastrongfinancialsupportforthenation,susce"partialaccumulation".Thisconcepthasbeenverypopulheminimumpensionsecurityandfacilitatetheneedformutualcomplement;thesecondpartshallbe"multi-pillarmode"."partialaccumulation"isthatinthenearterm,,tocollectasmuchaspossiblemoneysoastomakeupforthedeficitthatwillturnupduringthepeakperiodofacountbutdefinethefunctionofpersonalaccountas"nominalaccount",whichservesoto’ta"unified"pt,organizationalframeandmanagementmethod,,nearlyeverycountryisconstantlyreformingitspensionsecuritysysandareindifferentstagesofeconomicdevelopment,thereis,onthetargetmode,weshouldfullyconsiderChina’sconditionsands(II)FactorstobeSeriouslyConsideredWhenChoosingtheBasicTargetModeThepensionsecuritysystemistheessentialpartofthesocialsecuritysystemaswellasoneofnationalb,,Chinaisadevelopingcountrywithalargepopulationandalowlevelofeconomicdevelopment;thereisanapparentgapbetweencitiesandcountryside;,pensionsecuritysystemorganizedbytheChinesegovernmentcanbenomorethananelementarysecuritysystemwithlowstandard,promotingtheeconomicgrowthandraisingtheeconomicefficiencyaretheprimetaskforChinaini,socialstabilizerisnottheonlyfunctionofpensionsecuritysystem,whichshouldalsoprovideincentivesinfavourofeconomicgrowth,includingencouragingcitizenstow,becauseoftherapidgrowthofpopulationduringthe1950sand1960sandthestrictimplementationofthefamilyplanningpolicysincethebeginningofthe1970s,,ourpensionsecuritysystemmustbesustainabletothepressurebroughtalongbytheagingofpopulationduringthepe,China,asChinaisinthestageofrapidindustrializationandurbanization,,,thenewp,asChinaisprogressingtowardsanewsystemofsocialistmarketeconomy,attentionshouldbegiventoseparatingther,theeconomicrestructuringwiththedevelopmentofvariousformsofeconomicownershipandheavyburdensofstate-ownedenterprisesandfve-mentionedsixissuesintheefforttochoosethetargetmodeduringthereformofthepensionsecuritysystem.(III)SuggestedModeofPensionSecuritySystemandItsInstitutionalFrameGiventheaforementionedconditionsofChina,eveniftheissuessuchasincentiveareignored,thepressureofpopulationagingalonewouldmakeit’twork,thepracticeof"operatingonblankaccount",whichisnotsubstantiallydifferentfromthepracticeofpay-as-you-gosystemintermsofthewayoffundoperation,wonspensionsecuritysysteminrecentyearshasjustifiedthisunderstanding.…Ifyouneedthefulltext,pleaseleaveamessageonthewebsite.ZhangXiaojiInordertoimplementtheconsensusreachedbytheheadsofstateofChina,JapanandRepublicofKorea(ROK)attheManila"10+3"conferenceheldinNovember1999,theDevelopmentResearchCenter,authorizedbytheStateCouncil,conductedjointresearchontheeconomiccooperationamongthethreecountriesalongwiththeNationalInstituteforResearchAdvancement(NIRA)ofJapanandKoreanInstituteforInternationalEconomicPolicy(KIEP).AttheBrunei"10+3"conferenceheldinNovember2001,thethreeinstitutionspresentedthefirst"JointPolicyRecommendations"(seeappendix),theproposalconcerninnAffairs,theMinistryofForeignTradeandEconomicCooperation,theGeneralAdministr,JapanandKo,(RTA)ccountedformorethan50percentoftheworld’,includingservicetradeandinvestment,andevencont"stumblingblocks"toglobaltradeliberalization,whileothersregardthemasthe"foundationstones"for,thefactthatregionalismisspreadingacrosstheglobeindicatesthatcountries,proceedingfromtheirownpracticalinterestsorpoliticalinterests,arestillseekingtoestablishbilateralormultilateralregioaltradeagreements,thesecountriesdonotwanttomissanychancestoparticipateinneighboringregionaltradeagreementsforfearofbeing"marginalized"(EU)andtheNorthAmericanFreeTradeAgreement(NAFTA)arebyfarthetwomaheplantoestablishtheFreeTradeAreaofAmerica(FTAA),itishighlypossiblethatinthenext10years,,thecountriesin(ASEAN)planstoestablishafreetradeareacomprising10membercountries,andSingaporehasreachedagreementwithJapanonabilateraleconomicpartnershipinthenewera(JSEPA).However,whethertheEastAsianregioncantrulyformaregionaltradeblocthatcancompetewithEuropeandAmericadependsverymuchonhoweconomiccooperationwilldevelopamongChina,’"10+3"framework,thethreecountries’"10+3"conferencein2001,ChinareachedconsensuswiththeASEANontheestablishmentofafreetradearea,,themovehasputanenormouspressureonJapanandKorea,andmaywellforcethetwocountriestorecoeaswiththeASEANbutal,JapanandKoreaInthepast10years,thetradeamongthethreecountrieshasbyandlargem,,,theNAFTA,theSouthernCommonMarket,theASEANandotherregionaltradeblocs,boththeproportionandtheconcentrationcoefficiento,thethreecountries’tradestructure,comparativeadvantages,divisionofproductionandotherimportantfactorsaffectingtheintra-regionaltradeareundergoingchangesandt-,ofthetopsixmajorcommoditiesinChina’sexporttoKorea,fourwerealsorankedamongthetopsixmajorcommoditiesinChina’’simportfromKorea,fivew’sexports,thegrowt,Sino-KoreantradeisgraduallyassuminggreaterimportanceinChina’sforeigntrade,w,thep,inain2001surpassedthattoJapanforthefirsttimeinhistory....Ifyouneedthefullcontext,Amongthekeyindustries,,whichwas30%,23percentagepointshigherthantheprojected7%,326billionyuan,%,marilyduetotheimplementationofaseriesofstatemacropolicymeasures,whicheffectivelypushedupthegrowthofconsumption,,thereorganizationandrestructuringofthepetro,thesuccessfullistingofthetwogroupsoninternationalmarketsbroug,thehigherpricesofpetroleumandsomepetrochemicalproductsonthedomesticmarket,drivenupbyinternationaloilpricehikes,alsoplayedanimportantpart,theindustry’stotaloutputvaluewas30%,telecommunicationproductsandinvestmentproductsthrivedinbothproductionandsales,,thesalesofcellularphonesposted140%growth,%growth,andcolorTVscreens,electroniccomponentsandintegratedcircuitsalsogrewmorethan40%.Inadditiontothefast-growingdomesticdemand,thequickrecoveryinexcies,,42%,ygrew20%intheyear,%higherthanthatof1999,12percentagepointshigherthanthenationalaverage,,,,%,theoutputoftruckstotaled764,000,,000,%higherthan1999,,000,7%,heavy-dutytruckscontinuedtoleadthegrowth,risingby74%evelsof1999,%,light,%,%,bothcons,ironandsteelproductswere,theironandsteelproductionreboundedtosomee,asthemarketandpricesgraduallybecamestable,,theou,%,%%,thetotalsteeloutputwascontrolledwithi,%,,whiletheplate-piperatioroseto42%,,thoseinoversupply,suchassmall-sizedproductsandwirerods,,theproductsinshortsupplyondomesticmarket,suchaslargeandmedium-sizedproducts,%%respectively,0,pushedbyri,%,%,%.Amongthemainbuildingmaterials,cementtotaled580milliontons,%,whileplateglasstotaled180millionweight-crates,%.In2000,,%,,,,thetotaloutputvalueofthefiveprovincesandautonomousregionsofShaanxi,Gansu,Qinghai,%in2000,rket,increasingintensecompetitionandtherelevantstatepolicies,didmuchbetterintermsofrevenue,profit,,afastgrowthtrendappearedintheelec,350billionKWH,%,hydro,%,%%,ftheyear,onthebasisofmorethan10%,326billionKWH,%,especiallysomepower-consuminglargeandmedium-sizedstate-ownedenterprises,werethe%ofalltheelectricityconsumedandcontributed70%,thereductionandexemptionofpowerconsumptionsubsidies,theconsolidationofruralpowerprices,thereducedpricesoftheruralhouseholdpowerconsumptionandthesharpriseoffuelpricesallcontributedtothefastgrowthofthedemandinthepowermarket....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.环亚ag旗舰厅电子娱乐重合同守信誉企业市级明星企业,GeYanfengResearchReportNo82,’’e’heoutsideworld,Chinahasturnedfromacountrywherethedisparityinpeople’sincomewasnotgreatorevenquiteequaltoacountrywheredisparityinpeople’arityinpeople’,whenthereformjuststarted,theWorldBankestimatedthattheGinicoefficientfortheincomeofChineseresidents(thoselivingonthemainland,excludingthoselivinginHongKong,MacaoandTaiwan)’,’,,’sincomegrew,,’,,alargeportionoftheirincomemustbeinvestedinproduction,,thedisparityinincomesamongurbanresidents,,accordingtosamplingsmadebyZhaoRenweiandotherscholars,,accordingtodatacollectedbytheStateStatisticalBureauinthecourseofresidentsampling,,theStateStatisticalBureauintandemwithanumberofdepartmentscaeStatisticalBureau,theGinic,itcanberoughlyseenthattheg,incomedisparityamongruralresidentshasbeenbasicallystable,whiletheincomedisparityamongeofincomeandofthepossessionofwealthbetweendifferentindividualmembersofsociety(thefamilies),teCouncilinthethirdquarterof1999amongurbanresidentsshowsthattheAugustincomesofthestudiedfamilieswhenlistedonahightolowscaleinfivecategoriesaccordingtothepercapitaincomewereasfollows:20%;and20%,thesituationwasasfollows:20%ofthehigh-incomefamilieshadapercapitaincomeof992RMByuan;20%:thehighestincomesandthatofthe10percentfamilieswiththelowestincomewasevengreater,1,:%oft,itisnotpossibletomakeacomparisonbetw,itcanbeassuredthatthedifference,e,butundertheeffectsofcontinuedlargedisparities,theamoisticalBureau,bytheendofJune1999,20percentofurbanfa,,the20p,:1997by6ministriesandcommissionsoftheStateCouncil:theStatetheStatisticalBureau,MinistryofLabor,All-ChinaFederationofTradeUnions,etc..,accordingtoasamplesurveyconductedbytheStateStatisticalBureau,bytheendof1998high-incomepeasantfamilieswhichoccupied20percentofthepopulationpossess,an1,000RMByuanpossessedlessthan3percentofthetotalsavingsdeposit....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.LiuShijinEconomicrestructuringinvolvesmanyissuesandthefollowingopinionsareherebyputforwardwithregardtothegoals,themainthemeandprinciplesthatnee,economicdevelopmegrowthontheonehandanddownsizesbackwardproductioncapacityontheotherhandthroughtechnologicalprogress,industrialtransformation,aswellastheinnovationofthesystemandorganization,“TenthFive-YearPlan”,itisarestructuring,whichcomesattheendoftheperiodofscarcity-inducedeconomyandanoversupplyoftraditionalindustries,verafairlylongperiodinthefuture,anumberofnewfast-growingindustriesmustbecultivatedthroughindustrialupgradingafter,itisarestructuringaimedatincreasinginternationalcompetitivenesswhenthetrendofeconom“advancesandbackingoffs,”thecomparativeadvantageofourcountryshouldbebroug,itisarestructuringaimedatpromotingtechnologicalupgradingwhentechnologicalprogresshasbeenacceleratundofrestructuring---todevelopnewandhi-techindustriessoastonarrowthetechnologicalgapwithdevelopedcountriesinsomekeyareas;totransformtraditionalindustrieswithnewandhightechnology;andtoestablishamechanismoft,itisarestructuringaimedatforminganewmechanismforstructuraladjustmentwhenmajorprogresshasbeenachievedinestablishingamechanismofasocitionstemlargelyfromthedeep-rootedcontradictionsandproblemsleftoverfromtheolentionnotonlytothestructuraladjustmentitself,,twobasicgoalsshouldbesetforthenewroundofstructuraladjustment:oneistorealizestructuraladjustmentthroughpromotingindustrialandtechnologicalupgradingaswellasincreasinginternationalcompetitiveness,soastomaintainarelativelyhighgrowthrate(presumably7-8%)overafairlylongperiodoftime(presumablyaround10years),theotheristoacceleratetransformationandconstructionofsystemsduringthereadjustment,soastoestablishanewself-adj’,ment,,(particularlythosetownshipenterprisesthatemergedinthe1980sby"departingfromfarmlandwithoutleavingthehometown"),tralandwesternareascontinuestowiden,andthe,,levels,,,clothi,transportationandotherserviceconsumptionaimedatimprovingthelivingstandardhasmetsystemandpolicybarriers,whichledtoa“consumptionfault”.Inruralareas,somekindofconsumptionc,ervicestotraditionalstate-ownedenterprises,,smallandmedium-sizedenterprisesandsomefast-growinghighandnew-techenterprises,whichhaveplayedanincreasinglyimportantroleintheeconomy,,,andtheadjustmenttasksof“advancesandbackingoffs”“effectivelymobilizingsocialforcesforinvestment”roved....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.ZhangXiaojiLongGuoqiangOpeningtotheoutsideworldisafundamentalstatepoebasisofsummarizingthesuccessfulexperienceofthepastandadaptingourselvestoeconomicglobalizationatthetimewhenChinaisapproachingaccessiontotheWorldTradeOrganization(WTO)isofimportantsignificancetocarryingoutChina’,Chinaimplementedthepolicyofopeningtotheoutsideworldanddidquitewellintakingadvantageofthefavorable,’sbasicexperienceinopeningtotheoutsideworldconsistsofthefollowing:First,nancialcrisistookplaceorwhentheinternationalsituationwasinturmoil,Chinapersistedinitsfundamentalpolicyofopeningto,Chinamadefulluseof“internationalanddomesticresourcesandmarkets”,activelyparticipatedintheinternationaldivisionoflabor,,,Chinaproperlycoordinatedinstitutionalrefo,thecountry’,themarketizationdomesticeconomyandthemajorrestructuringofforeigneconomicrelationsandtradeint,Chinaadoptedtimelystrategicmeasuresforfurtheropeni,itputforththe“strategyofexpandinginternationalmarketsharebyimprovingquality”,“marketdiversification”and“strategyofbroadly-basedforeigntradeandeconomiccooperation”.Furthermore,itpracticed“all-dimensional,multi-tieredandwide-rangingopeningtotheoutsideworld”.,Chinaconsistentlymainta,,struckagainstevasionofforeprinciplesguidingChina’conomicglobalizationasthebackdrop,Chinawillbe’seconomiclifeaswellasabasicpointofdeparturewhenweanalyz’sm,,oreandtheinternationalindustrialandtechnologicaltransferbringChinawithanhistoricopportunitytound,technologicalinnova’esintheinternationalstructureofdemandsthataretakingplacearoundtheworldandthusfailtocarryoutstructuraladjustmentdomesticallyandacceptinternationalindustrialtransfer,Chinawillfindthatitwillnotonlybeunabletoupgradeitsindustrialstructure,,thechangeintheaggregatesupplyanddemandpatternofthedomesticmarketcreatedfavorableconditionsforChinatograduallyopenitsdomesticionhaveyettobecompleted,insufficientdemandhascreatedtremenfteritsaccessiontoWTOandincreasetheshareChina’apitalandimportthoseresourcesan,whetherChinacantrulyreapthebenefitsofopeningitsmarkettotheoutsideworld,relaxingtherestrictionsontheentryofforeigncapital,andfurtherlinkinguptheinternationalanddomesticmarketswillenableChinatogiveplayonawi,thepresentdomesticmarketisstillplaguedbybarriersexistingbetweendifferentdepartmentsandbetweendifferentregions,iciesandestablishaunifiedlargemarketinthecountryduringthetransitionperiodafteraccessiontoWTOwilldirectlyaffectChina’soptimizationofresourcesallocationandeconomicdevelopment....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.GuoLihongandZhangChenghuiOn22October2001,ChinaSecuritiesRegulatoryCommissionhastilysuspendedtheInterimManagementMeasuresontheReductionofStateSharestoRaiseS,whichfullyreflectedtheenthusiasmofallwalksoflifeinsocietyonthedevelopmentofChina’,theStateCouncildecidedtostopthepracticeof"share-reductionthroughmarket"forstateshares,,wethinkitisanabsolutelycor,itcorrectedthemistakeinatimelymanner,soth,iteliminatedtheimpactofstatesharereductionandfocusedthenextsteponthebottleneckandsolutiontoChina’sstockmarket–,completecirculationinthestockmarketmeanstoturnthenon-tradablesharesofthelistedcompanies(includingstateshares,legalpersonsharesandinternalemployeeshares)determinedattheirinitiallistingstageintotradableshares,,,,continuouseffo,:First,inthesegregatedmarket,itisimpossibes,therearetwosetsofinterestsassessmentsystemsanddif,themarketpricesforsharesarenotvalueindicatorsofallshareholders,,sellingstatesharesatmarketpricesisnothingelsebutplunderingtheholdersofthetradableshares(seeZhangWeixingandZhangChenghui,"MarketSegregationistheRootofAllProblemsofChinaStockMarket",ResearchReportofDevelopmentResearchCenteroftheStateCouncil,,2002).Therefore,,itisalsodifficulttobescientificandfairtoreducestatesharesbasedonotherpricemeasurements(suchasnetassets).For,suchpracticewilleasilyacceleratespeculativemanipulations,andharmboththecommoninvestorsandtheinterestsofthestateshareholder(Forexample,therepresentativesofthestateshareholderscangangupwithspeculatorstoholddownthevalueofnetassetswithillegalmeans,market,whichhavelongbeenpracticedskillfullybyspeculators).Second,statesharereductionis,whichischaracterizedbypartialandlocalreformfirstandcross-the-boardreformlater,maybesuccessfulinotherfields,,thestockmarketishighlyliquidandsensitive,whereatinyproblemofthe"experiment"willgene,withaproportionof2/3,thelargeamountofnon-tradablesharesisliketheswordofDamocleshangingabovetheheadsofinvestors,,asstatesharereductioncannotbecompletedinoneeffort,itwillgiv,,thenon-tradablestateshareswillnotbesoldoutcompletely;orelsethewithdrawingstrategicadjustmentofthestateeconomyandthe"strengtheningcombinedwithwithdrawing",torealizecompletecirculation"statesharereductionthroughmarket"aretwodifferentconcepts,whichshouldnotbemixedtogether,’sstockmarketliesinmarketsegregation,andonlybysolvingtheproblemofcompletecirculationcanotherproblemsofChina’’,relevantdepartmentformulatedprinciplestipulationsontheequivalentsharevalueofstateassetsinthelistedcompanies,thetransferconditionsandthepremiumratesofissuedshares,inordertoguaranteestate,theseambiguousstipulationscreatedsuchcustomaryrulesaslistedbelow.(1)Thesharestructureofthejointstockcompaniesisdefinedtoconsistoffourkindsofshares,namely,thestateshares,legalpersonshares,publicsharesandforeignshares;andtheproportionofthefirsttwokindsofsharesgenerallytakeup2/3ofthetotal.(2)Statesharescannotbetradedfreelyinsecurityexchangeslikepublicshares,andlegalpersonsharescanonlybetransferredamonglegalpersons.(3)Sharepr,whilethepremiumofpubliclytradab,ithastintedChina’sstockmarke(notthemarketforce)astheprincipalforcedominatingthemarket,,itistheadministrativedepartments(insteadofsponsorsoflistedcompanies)whodecideontheequitystructuresofChina’’rightstomaketheirowndecisionsoninvestment,,differentinvestorsenjoydifferentrightsandsharedifferentobligations,thuslayingdowntheunequalbasisattheinitialestablishmentstageofjointstockcompanies....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.20108月通过ISO9001:2000国际质量管理。

    我公司以Datasource:WorldInvestmentReportpub,theestablishmentofnewinvestmentfacilitiesandsecond,,forexample,(forecast),downby83percent,,ChinastoodoutamidtherecedingwaveofmergerandacquisitionbecauseitsFDIinflowhadalwaysbeenmainlyintheformofnewbusinessesta"newbusinessestablishment"wasthattheforeigncapitalinvestmentconstitutedanetincreaseofindustrialcapital,whichcouldrapidlyexpandproduction(service)capacitiesandcoulddirectlyincreasecommodity(service)’smarketwheresupplyfallsshortofdemand,thiswasundoubtedlythemostrationalmodeofFDIinflow,andalsoamarketbackgroundagainstw,ithasreflectedtheupgradingofenterprisequality,,’smarketwheresupplyanddemandisbyandlargeinbalance,mergerandacquisitionoughttograduall,China’sFDIinflowintheformof"newbusinessestablishment"ngtowarda"globalmanufacturingbase".AccordingtotheexpositionbyScholarJiangXiaojun(firstissueofManagementWorldin2003),transnationalcorporationsinthef,aMotorolasubsidiary,announcedthatitwouldestablishanewproductionbaseinChinainAugust2002,,MinoltaandNMVisualSystemsannouncedsimultaneouslythattheywouldexpandtheiroptorliquidcrystaldisplays(TFT-LCD),mCiudadJua’sfirstnewproductsinceitsestablishment--CompaqEvo–weremadeinitsplantinShanghai,"LGBeijingTowers"asChina’sofficecenter,andthiswasonlyoneofthecompany’,China’sF,thenewguidelinesconcerningthereformofgovernmentassetsmanagementsystemputforwardatthe16thNationalCongressoftheCPCwillnodoubthelpthegovernmentstoreleasetheirst"unifiedownershipandindistinctionbetweengovernmentadministrationandassetsmanagement"to"gradedownershipandseparationofgovernmentadministrationfromassetsmanagement"Forlong,ourgovernment-ownedcompanieshavefailedtosolvetwobasicissues:theunclearpropertyrightownershipandthe,areChina’sseveralhundredsofthousandsofgovernment-ownedcompaniesallownedbythecentralgovernmentandmanagedbythegovernmentsatvariouslevels,oraretheyownedbythegovernmentsatvariouslevelsAllthestipulationsinthepastemphasizedthatthestate-ownedassetswereownedinaunifiedwaybytheStateCouncilinthenameofthest,thecentralgovernmentwastheowner,,thecentralgovernmentmayhandoveranypoor-performingenterprisesatanytimetothelocalgovernmentsfor"gradedmanagement",andmaytakeoveranywell-performingenterprisesfromthelocalgovernmentsto"exerciseownershipright".Theearningsarisingfromthesellingofstockrightsbythelocalgovernmentsaresometimesplacedunderthecontrolofthelocalgovernments(forexamplethenon-listedcompanies),orsometimesplacedunderthecontrolofthecentralgovernment(forexamplethelistedcompanies).Withregardtothebadaccountsincurredtothefinancialinstitutionsofthelocalgovernments,thecentralgovernmentsometimessolvesthemontheirbehalf,andsometimesdeclaresthat"hewhohasthechildtakescareofhim"(forexamplethecaseoftheGuangdongInternationalTrustInvestmentCorporation).etermsofanenterprise’smergerandacquisitionandthenallofasuddenthegovernmentatthehigherlevelsaysthatthelocalgovernmenthasnorighttoselltheenterprise,thiswillundoubtedlybesomethingreallyannoying....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.、环亚ag旗舰厅电子娱乐用户至上ag亚游平台手机客户端Datasource:WorldInvestmentReportpub,theestablishmentofnewinvestmentfacilitiesandsecond,,forexample,(forecast),downby83percent,,ChinastoodoutamidtherecedingwaveofmergerandacquisitionbecauseitsFDIinflowhadalwaysbeenmainlyintheformofnewbusinessesta"newbusinessestablishment"wasthattheforeigncapitalinvestmentconstitutedanetincreaseofindustrialcapital,whichcouldrapidlyexpandproduction(service)capacitiesandcoulddirectlyincreasecommodity(service)’smarketwheresupplyfallsshortofdemand,thiswasundoubtedlythemostrationalmodeofFDIinflow,andalsoamarketbackgroundagainstw,ithasreflectedtheupgradingofenterprisequality,,’smarketwheresupplyanddemandisbyandlargeinbalance,mergerandacquisitionoughttograduall,China’sFDIinflowintheformof"newbusinessestablishment"ngtowarda"globalmanufacturingbase".AccordingtotheexpositionbyScholarJiangXiaojun(firstissueofManagementWorldin2003),transnationalcorporationsinthef,aMotorolasubsidiary,announcedthatitwouldestablishanewproductionbaseinChinainAugust2002,,MinoltaandNMVisualSystemsannouncedsimultaneouslythattheywouldexpandtheiroptorliquidcrystaldisplays(TFT-LCD),mCiudadJua’sfirstnewproductsinceitsestablishment--CompaqEvo–weremadeinitsplantinShanghai,"LGBeijingTowers"asChina’sofficecenter,andthiswasonlyoneofthecompany’,China’sF,thenewguidelinesconcerningthereformofgovernmentassetsmanagementsystemputforwardatthe16thNationalCongressoftheCPCwillnodoubthelpthegovernmentstoreleasetheirst"unifiedownershipandindistinctionbetweengovernmentadministrationandassetsmanagement"to"gradedownershipandseparationofgovernmentadministrationfromassetsmanagement"Forlong,ourgovernment-ownedcompanieshavefailedtosolvetwobasicissues:theunclearpropertyrightownershipandthe,areChina’sseveralhundredsofthousandsofgovernment-ownedcompaniesallownedbythecentralgovernmentandmanagedbythegovernmentsatvariouslevels,oraretheyownedbythegovernmentsatvariouslevelsAllthestipulationsinthepastemphasizedthatthestate-ownedassetswereownedinaunifiedwaybytheStateCouncilinthenameofthest,thecentralgovernmentwastheowner,,thecentralgovernmentmayhandoveranypoor-performingenterprisesatanytimetothelocalgovernmentsfor"gradedmanagement",andmaytakeoveranywell-performingenterprisesfromthelocalgovernmentsto"exerciseownershipright".Theearningsarisingfromthesellingofstockrightsbythelocalgovernmentsaresometimesplacedunderthecontrolofthelocalgovernments(forexamplethenon-listedcompanies),orsometimesplacedunderthecontrolofthecentralgovernment(forexamplethelistedcompanies).Withregardtothebadaccountsincurredtothefinancialinstitutionsofthelocalgovernments,thecentralgovernmentsometimessolvesthemontheirbehalf,andsometimesdeclaresthat"hewhohasthechildtakescareofhim"(forexamplethecaseoftheGuangdongInternationalTrustInvestmentCorporation).etermsofanenterprise’smergerandacquisitionandthenallofasuddenthegovernmentatthehigherlevelsaysthatthelocalgovernmenthasnorighttoselltheenterprise,thiswillundoubtedlybesomethingreallyannoying....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.Datasource:WorldInvestmentReportpub,theestablishmentofnewinvestmentfacilitiesandsecond,,forexample,(forecast),downby83percent,,ChinastoodoutamidtherecedingwaveofmergerandacquisitionbecauseitsFDIinflowhadalwaysbeenmainlyintheformofnewbusinessesta"newbusinessestablishment"wasthattheforeigncapitalinvestmentconstitutedanetincreaseofindustrialcapital,whichcouldrapidlyexpandproduction(service)capacitiesandcoulddirectlyincreasecommodity(service)’smarketwheresupplyfallsshortofdemand,thiswasundoubtedlythemostrationalmodeofFDIinflow,andalsoamarketbackgroundagainstw,ithasreflectedtheupgradingofenterprisequality,,’smarketwheresupplyanddemandisbyandlargeinbalance,mergerandacquisitionoughttograduall,China’sFDIinflowintheformof"newbusinessestablishment"ngtowarda"globalmanufacturingbase".AccordingtotheexpositionbyScholarJiangXiaojun(firstissueofManagementWorldin2003),transnationalcorporationsinthef,aMotorolasubsidiary,announcedthatitwouldestablishanewproductionbaseinChinainAugust2002,,MinoltaandNMVisualSystemsannouncedsimultaneouslythattheywouldexpandtheiroptorliquidcrystaldisplays(TFT-LCD),mCiudadJua’sfirstnewproductsinceitsestablishment--CompaqEvo–weremadeinitsplantinShanghai,"LGBeijingTowers"asChina’sofficecenter,andthiswasonlyoneofthecompany’,China’sF,thenewguidelinesconcerningthereformofgovernmentassetsmanagementsystemputforwardatthe16thNationalCongressoftheCPCwillnodoubthelpthegovernmentstoreleasetheirst"unifiedownershipandindistinctionbetweengovernmentadministrationandassetsmanagement"to"gradedownershipandseparationofgovernmentadministrationfromassetsmanagement"Forlong,ourgovernment-ownedcompanieshavefailedtosolvetwobasicissues:theunclearpropertyrightownershipandthe,areChina’sseveralhundredsofthousandsofgovernment-ownedcompaniesallownedbythecentralgovernmentandmanagedbythegovernmentsatvariouslevels,oraretheyownedbythegovernmentsatvariouslevelsAllthestipulationsinthepastemphasizedthatthestate-ownedassetswereownedinaunifiedwaybytheStateCouncilinthenameofthest,thecentralgovernmentwastheowner,,thecentralgovernmentmayhandoveranypoor-performingenterprisesatanytimetothelocalgovernmentsfor"gradedmanagement",andmaytakeoveranywell-performingenterprisesfromthelocalgovernmentsto"exerciseownershipright".Theearningsarisingfromthesellingofstockrightsbythelocalgovernmentsaresometimesplacedunderthecontrolofthelocalgovernments(forexamplethenon-listedcompanies),orsometimesplacedunderthecontrolofthecentralgovernment(forexamplethelistedcompanies).Withregardtothebadaccountsincurredtothefinancialinstitutionsofthelocalgovernments,thecentralgovernmentsometimessolvesthemontheirbehalf,andsometimesdeclaresthat"hewhohasthechildtakescareofhim"(forexamplethecaseoftheGuangdongInternationalTrustInvestmentCorporation).etermsofanenterprise’smergerandacquisitionandthenallofasuddenthegovernmentatthehigherlevelsaysthatthelocalgovernmenthasnorighttoselltheenterprise,thiswillundoubtedlybesomethingreallyannoying....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.’dwillmaintainasteadygrowthwhiletheinter,theunfavorableimpactoftheseuncertaintiesontheChineseeconomyisexpectedtobesmallerthanlastyearandthena,,thegrowthofthetotalvolumeofconsumergoodsretaildeclinedslightly,mainlyduetotheeffectofdecliningpricesandthefactthatthepurchasingwithtokenmoney,,,price,supplyandotherfactors,itisunlikel,,thegrowthofforeigninvestmentwasfa,,investmentgrowthisexpectedtobes,exportgrowthisexpectedtobesl,,,,weshouldseethatastheimprovementinChina’sexportconditionsisnottangibleanditsimportwillgrowfasterafterWTOaccession,thecountry’yfast,foreigndemandintermsofnetexportwilldecline,andthisyear’seconomicgrowthwillbeequaltoorslightlyhigherthanthatoflastyear,thepasttwoyears,somepositivechangesofmid-a,housing,automobile,telecommunications,infrastructureandothersectorsthatcoulddirectlyupgradeconsumptionstructureandindustrialstructureandeffectivelypushforw,foreigntransnationalcompaniesacceleratedthetransferringofpr,progresshasbeenmadeinreformingthestate-ownedenterprises,inbringingthemoutofdifficulties,andinrestructuring,reorganizing,,someenterprisesthaisesinsoutheastcoastalprovincesha,thereform,telecommunications,,initialprogresshasbeenmadeintheadjustmentandreformofgovernmentsystem,especiallyinoverhaulingtheadministrativeexaminationandapprovalsystem,,governmentrelationswithenterprises,,someispenditure;thesecondisthecontrastbetweeneconomicgrowthandeconomicefficiencyindex;andthethirdisthatwhiletheeconomyhasmaintainedafairlyfastgrowth,sitivefiscalpoliciesimplementedbythegovernmentinrecentyearsandthepoliciesofreformandadjustmentthatweredesi,therecouldbenoliberalenvironmentforthegrowthofsoci,withoutinherentdrivingforceforeconomicgrowth,thefairlyfasteconomicgrowthr,thetotalvolumeoftheChineseeconomyhasbeenconstantlyexpandingwhilethescaleofnationalbondsissuedbythegove,tosomeextent,duetotheexcessivedependenceoftheon-goingeconomicgrowth,especiallythegrowthofinvestmentandexport,yrelatedtothechangesintheexternalenvironment(forexample,thedeclininginternationaloilprices)he,protectandstrengthenthemarket-basedinherentdrivingforceforec,urtheupgradingofconsumptionstructure,suchaslowertaxesandfees,,housingmonetization,whichhasnotbeentrulyimplemented,andthemarketizationofusedhousesshouldbeexpedited,whilethe,stmententhusiasmofallinvestors,,theproactivefiscalpoliciesaimedatmaintainingeconomicgrowthrateshouldbereplacedbythefiscalpoliciesthatgiveequalemphasistosuppo,aftertheon-goingprojectssupportedbynationalbondsarebasicallycompleted,theemphasisofthefiscalpoliciesshouldshifttoincreasingthesupportforpoorpeopleandbackwardregionsandeasingthecont,itisimperativetoincreasethesupportfortheconstructionofthesocialsecuritysystem,toeasethehistoricalburdensofthestate-ownedenterprisesthatareintransition,andtopromotethecomprehensiveandsubstantialadvanceintheadjustmentofthedistributio,itisnecessarytoincreasetheinputoftheguidingfundsininfrastructureconstructionandrelatedareasandtoexpeditetheexplorationfornewmechanismstoattract,withlimitedfiscalfunds,asmuchsocialfundsaspossibletoinvestinthepublicsectorswelfare....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.、DVORWangMengkui,LuBaipuandLuZhongyuanResearchReportNo045,pmodernizationstrategy,Chinahascompletedthe,Chinaenteredanewstageofmovingtowarditsthird-stepstrateg,China’,,China’,,,,China’,thenationalwealthincreasedandtheoutputsofmainindustrialandagriculturalproductsrosedramatically,,commodityscarcitythathadlongassociatedwithChina’seconomicdevelopmentanditspeople’,China’seconomicdevelopmentha,thepercapit’,China’spercapitaGDP,slightlyhigherthantheaveragepercapitaGNP,eChineseeconomy:considerableeconomicstrength,whiletherelativelylowpercapitalevel(Chinaranked140thamongthe206economiesintheworldintermsofaveragepercapitaGNPin1999)’,theEng,thenumberofpoverty-strickenpeoplefellbyabigmarginfrom250millionin1978to30millionin2000,,,thoughstillintheinitialstage,,twohistoricalstrideshavebeenmadeinthelivelihoodofurbanandruralresidents:frompovertytohavingenoughfoodandclothing,,whichhasplaguedthecountryforcenturies,’sindustrialstructure,manufacturingstrengthandexportstructure,wecanconcludethatChin,whilethetotalamountofagriculturalproductshasincreasedrapidly,the,thesupplyofagriculturalproductsrealizedahistoricalchangethankstotheswiftdevelopmentofagriculturefromapro,,diversifiedoperationsreplacedtheunitarystructureofagriculturalproduction,,whilethetotalpopulationincreasedby300million,,,suchasrawmaterials,energyandtransport,thathadlongrestrainedChina’seconomicdevelopment,,,arelativelycompleteindustrialsystemisalreadyinplaceandinparticularthemanufacturingindustryisabletoprovideaconglygreatcontributionsandthehigh-andnew-techindustrieshavebecomeanimpor,whiletheexportsofagriculturalandotherprimaryproductshaveincreasedrapidly,,,,theindustrialstructureisobviouslymovingfromtheprimaryleveltotheadvancedlevel,fromaseriousimbalancetoabasicrationality,andfrommainlymeetingbasicneedfoundationforthebasiceconomicsystemandtheoperationsystemthatconformtoChina’,commercialization,industrializa;theevolutioniscontinuinginwhichthepublicownershipplaystheleadingroleandtheeconomiesofdiverseownershipsdevelopsimultaneously;,’smacro-regulatoryabilityisvisiblygreaterthankstotheestablishmentofamofthemarketeconomy,andthemodeofdistributionthatintegrateslaborwithosobroughta,thebasicroleofthemarketinresourceallocationhasbecomes,theindexofChina’,th....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.LiuShijinResearchReportNo212,:ThereExistsImmenseSpaceforReducingState-HeldSharesThankstotheeffortsintheoretical,policyandpracticalexplorationinrecentyears,majorprogresshasbeenmade,thestateneedstomaintainitscontrolovercertainareas,namelythosethatareimportanttostatesecurity,theareasofnaturalmonopoly,theareasthatprovidepublicgoodsandservices,,thegeneralorientationofthereorganizationofthestate-ownedeconomyandthereductionofstate-heldsha,thereares,thestate-ownedcapitalcanquitfromtheareasofgeneralcompetitiveneywellandwehavereasontobelievethatthestate-ownedcapitalintheseenterprisesdoesnothavetoquit(thatwillhelpthestate-ownedcapitalpreserveandincreaseitsvalue).Butinlightof“majorprinciples”,itisperhapsabetterchoiceforthiskindofhigh-qualitycapitaltoquitandtoreplenishthesoc,theso-calledcontrolcanbeintheformofexclusivestateownershipand,inmostcases,canbeintheformofstateshare-holding,includingabsolutestateshare-holding,,wecanevendrawonforeignexperienceandintroducethe“goldenshare”system,thatis,thestatehasno“controlthesameamountofothercapitalwithaslessstate-ownedcapitalaspossible”.Sointheareaswherethestateneedstomaintainitscontrol,,telecom,electricity,petroleumandpetrochemicalindustriesareactuallythose,whosehigh-qualitycapitalcanbe“soldatbetterprices”.thereductionandrealizationofpartofthestate-ownedcapitalonlychangestheformoftheexistenceofthestate-ownedcapitalanddoesnotnecessarilycauseanylosstoor“drainaway”,itisindeedimpossibletoruleoutthepossibilityofthestate-ownedcapitalbeing“drainedaway”,thelogicconclusionshouldbetorectifytheexistin,,refusingtoreduceandrealizethestate-heldsharescaninnowayguaranteethatsuchcapitalwillnot“drainaway”.Numerousfactsprovethatwhenthestate-ownedcapitaldoesnotflow,theassetdepreciationduetotheoperatinglossesofthestate-,onemayfindthatafterstockreductionandrealization,thestate-ownedcapitalhasavoided,,,thewagesreceivedbytheiremployeeswereonlyaportionofthetotalduetothem,,pension,healthcare,(orthestate-ownedenterprises),thereinfactexistedacontractualrelationshipthatthestateshouldprovidetheemployeeswithhousing,pension,sinceChinabeganreformandopeningupandastherehaveexistedshortcomingsinthecashbasissystemoftheseenterprises,thestate(orspecificstate-ownedenterprises),replenishingthesocialsecurityfundswithearningsfromthereductionandrealizationofpartoftheexistingstate-heldsharescanbeontrolitseconomicresourcesbywayofrunningenterprisesorcontrollingnon-stockandhigh-liquidityformsofassets,suchasbonds,funds,,suchachoicewasinevitable,foritwastrulydifficulttofindotherwaystomanagemoreresources,,however,onefundamentalchangeisthatresourcesorassetscanbreaktheconfinementofmaterialformandtaketheformofvalue,ghtofthenumberofthestate-ownedorstate-runenterprises,:onescenarioisthatthestate(governmentsatalllevels)isincontroloffinancialrevenueequivalentto20%ofGDPandatthesametimepossessestheassetsofthestate-ownedenterprisesequivalenttoanother20%ofGDP,andthattheseenterprisesarepoorlyoperating,mostlymakinglossesandhavingverylittleliquidity;anotherscenarioisthatthestate(governmentsatalllevels)isincontroloffinancialrevenueequivalentto40%ofGDPandatthesametimepossessesacertainamountofbonds,fund,then,enablesthestatetocontrolmoreresourceargeEnterprisesOneimportantprogressinthereformofstate-ownedenterprisesinrecentyearshasbeenthatgreatbreakthroughshavebe,observationsindicat,attentionisfocusedonthelargestate-ownedenterprises,eachofwhichgenerallyhasassetsworthofseveralhundredmillion,,purchasebyprivatecapitalorothermethodsusedtorestruc,oneimportantquestionishowtofindinvestorswithadequatefinancialstrengthtorwnedenterprisesoperateatahigewlargeinvestors,butalsotheissuesrelatingtotheirtechnologysources,,itispreferable,reducingstate-heldsharesmustfocusonthelargestate-ownedenterprisesa,itshouldenabletheenterprisestoformeffectiveinternalgovernanceandorganizationalst,therecanbemanyoptions....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.’sRuralLaborMovementSinceReformandOpeningupSincethemid-1980s,,employmentbyTVEsroseto136millionpeople,,theoveralleconomicenvironmentforTVEsbeganundergoingtremendouschangesandente,theseenterprises’,TVEsemployedatotalof128millionpeople,,alpeopleare,AnhuiandGuizhouandthecityofChongqing,thoseworkingoutsiderespectivelyaccountfor65percent,,5,Hubei,,mostprovincesandautonomousregionshave,theimpactofruralpeopleworkingouts,,whilethephaveenteredtheurbanareas,withtheratiobetweenlargeandmedium-sizedcities,smallcitiesandtowns(includingthecounty-levelcities)andtheruralareasbeing4:4:,theruralpeopleemployedoutsidetheir,whilethefarming-relatednetincomeoftheruralpeoplecontinuedtodecline,theaverag,thegovernmentpolicyconcerningruralemploymentwastoencouragepeopletoflowlocally,namely"leavingfarmlandinsteadoftownshipsandenteringfactoriesinsteadofcities".Beginningfromthemid-1980s,however,thendustrialandcommercialoccupations,especiallyafterDengXiaopingmadestatementsduringhissouthChinainspectiontourinthespringof1992,thegovernmeuallyrecognize,,the3rdPlenarySessionofthe14thCPCCentralCommitteeissuedtheResolutionoftheCPCCentralCommitteeonSeveralIdguidedtograduallytransf,theMinistryofLaborissuedtheProvisionalReg-,asystembasedonemploymentpermissioncameintofor,thegeneralofficeoftheCPCCentralCommitteeissuedthe,aunifiedsystemofemploymentcertificateandtemporaryresidencepermitformigrantpopulationescopeofproduction,deve,rurallaborforceshouldbeguidedtoflowinanorderlymannerinkeep,thestate’sem’sCongressapprovedthe10thFive-yearPlanforNationalEconomicandSocialDevelopment,,thesystemofseparatingurbanandruralareasshouldbeabolishedinordertograduallyestablishanewurban-ruralrelationshipconsistentwiththesystemofmarketeconomy;theurbanresidenceregistrationsystemshouldbereformedinordertoformamechanismconducivetotheorderlyflowofurbanandruralpeople;theunreasonablerestrictionsonrurallaborforceseekingemploymentintheurbanareasshouldberemovedinordertoguidetherurallaborsurplustoflonfortnismshouldbebrokendown,thatexceptforafewmegacities,theemploymentsystembasedonurban-ruralseparationshouldbereformed,andtherestrictiveemploymentpoliciesinvariousregionsthatweresp,theStateCouncilapprovedthepublicationoftheProposalsoftheMinistryofPublicSecurityonPromo,permanentresidenceregistrationshouldbegrantedtothosefarmersandtheirdirectrelativeslivingwiththemintheurbanareasofthecounty-levelcities,thetownswherethecountygovernmentsarebasedandtheadministrativetownsaslongastheyhaownsshouldenjoythesamerightsandfulfillthesameobligationsasthelocalresidentsdoinareassuchasschooling,,anditwouldbeillegaltolevyurbancapacityexpansionfeeorothersimfarmersenteringtheurbanareasshouldbefairlytreated,rationallyguided,sonablerestrictionsandillegalleviesonthefarmerswhoentertheurbanareasfo,variouslaborintermediaryorganizationorkingintheurbanareassoastosafeguardtheirlegitimaterightsandinterests....Ifyouneedthefullcontext,pleaseleaveamessageonthewebsite.。

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