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
    日本乱偷人妻中文字幕在线| 亚洲av无码成人黄网站在线观看| 久久久无码精品亚洲日韩蜜臀浪潮| 亚洲AV无码一区二区三区系列| 亚洲av永久无码制服河南实里 | 久久伊人中文无码| 无码丰满少妇2在线观看| 五月婷婷无码观看| 在线综合+亚洲+欧美中文字幕| 中文字幕无码久久精品青草| 熟妇无码乱子成人精品| 色婷婷综合久久久久中文字幕 | 免费A级毛片无码专区| 无码精品尤物一区二区三区| 日韩人妻无码精品久久免费一| 高清无码v视频日本www| 中文字幕亚洲精品| 无码h黄动漫在线播放网站| 亚洲一区日韩高清中文字幕亚洲| 中文字幕亚洲男人的天堂网络 | 在线看福利中文影院| 国产精品无码A∨精品影院| 人妻少妇久久中文字幕| 日韩人妻无码一区二区三区99| 亚洲中文字幕久久精品无码喷水| 日韩经典精品无码一区| 99久久无码一区人妻a黑| 久久中文精品无码中文字幕| 久久最近最新中文字幕大全| 永久无码精品三区在线4| 中文字幕无码日韩专区| 久久久久久精品无码人妻 | 中文精品久久久久国产网址| 中文字幕亚洲综合小综合在线| 一本色道无码道在线| 久久精品aⅴ无码中文字字幕不卡| 无码人妻精品一区二区蜜桃百度| 特级小箩利无码毛片| 伊人蕉久中文字幕无码专区| 中文字幕精品一区二区精品| HEYZO无码综合国产精品227|