USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
    China
    Home / China / Across America

    Reform plan has challenges, professor says

    By Amy He in New York | China Daily USA | Updated: 2014-01-08 10:44

    Reform plan has challenges, professor says

    China's reform plan is "quite comprehensive" but there will be challenges in executing it, according to a professor at the China Center for Economic Research and the National School of Development at Peking University.

    "The reform plan is quite comprehensive - in many cases, quite detailed - but we cannot underestimate the difficulties to carry out those reforms," said Yao Yang.

    As China's push for economic reform has gone "deeper and deeper," the challenge of "ideological shifts" will also be met, he said in remarks on Monday at a 2014 economic forecast event hosted by the National Committee on US-China Relations at the New York Stock Exchange.

    "Some people say that SOEs [state-owned enterprises] are quite difficult to reform because of the resistance of the SOE leaders," he said. "Of course, that can be an obstacle, but what is more important is that the top leaders believe that SOEs can implement the key national strategies." That kind of mindset is important in pushing for SOE reform, he said, and prevents the government from taking risks.

    One major point in the communiqu released after the Third Plenum meeting was about rural land reform, Yao pointed out, where residential land in the countryside could be sold directly in the market as opposed to selling it back to the government, which increases the seller's gains through the sale.

    Despite people's excitement over the proposed reform, Yao said that if a farmer defaulted, and the piece of land was offered to the bank, there's no way for the bank to cash in on the land. That's a "huge hurdle" for the government to have to overcome if they implement the reform, and something that "has a lot to do with old ideology of collective land ownership," Yao said.

    There also are numerous obstacles the financial sector faces, he said. The "negative list" proposed in the Shanghai Free Trade Zone - which specifies bans and restrictions on types of foreign investments - will disappoint investors, he said, because "almost everything is on there."

    Yao touched on the lack of private banks in China, saying that numerous companies have tried to establish them, and "many people expected [opening up a private bank] would be approved by the end of last year, but of course nothing happened."

    Finally, the Third Plenum communiqu stressed economic reform, "but nothing on government reform," Yao said. The central government has the responsibility to pay for all debt - "It's not like in the United States with Detroit," he said - and that's going to "hugely distort the market signal."

    Then there's the issue of government officials' tenure, which creates possibly more problem for local debt, Yao said. "On average, [officials] only stay in one place for three years. Half of them stay there for less than two years," he added.

    amyhe@chinadailyusa.com

     

     

    Polar icebreaker Snow Dragon arrives in Antarctic
    Xi's vision on shared future for humanity
    Air Force units explore new airspace
    Premier Li urges information integration to serve the public
    Dialogue links global political parties
    Editor's picks
    Beijing limits signs attached to top of buildings across city
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    97久久精品无码一区二区天美| 亚洲啪啪AV无码片| 国产精品99久久久精品无码| 50岁人妻丰满熟妇αv无码区 | 无码一区二区三区在线观看| 日韩亚洲不卡在线视频中文字幕在线观看 | 无码人妻精品一区二区蜜桃网站| 精品人体无码一区二区三区| 18禁超污无遮挡无码免费网站| 无码AV中文字幕久久专区| 高h纯肉无码视频在线观看| 亚洲中文字幕无码一区二区三区 | 久久精品亚洲乱码伦伦中文| 亚洲Av无码乱码在线播放| 无码人妻丰满熟妇区五十路百度| 无码人妻精品中文字幕免费东京热| 色婷婷久久综合中文久久蜜桃av| 91久久九九无码成人网站| 日韩AV无码久久一区二区| 亚洲AV无码国产精品麻豆天美| 色综合中文综合网| 宅男在线国产精品无码| 无码专区国产无套粉嫩白浆内射| r级无码视频在线观看| 毛片无码免费无码播放| 亚洲AV无码专区电影在线观看| 白嫩少妇激情无码| 日韩精品无码一区二区视频| 中文字幕乱人伦| 免费A级毛片无码无遮挡内射| 久久丝袜精品中文字幕| 最近中文国语字幕在线播放| 日本精品中文字幕| 国产精品综合专区中文字幕免费播放 | 亚洲色偷拍另类无码专区| 中文字幕一区日韩在线视频| 国产成人无码免费看视频软件| 免费无码又爽又刺激网站| 无码成人精品区在线观看| 永久免费av无码入口国语片| 亚洲精品无码永久中文字幕|