This book consists of studies on China’s economic development since China carried out the reform and opening-up strategy, including China’s economic restructuring, economic operational mechanism, socialist market economy, inflation, the reform of the urban housing system, the economic impact of WTO entry, the future potential growth rate, global economic governance, structural fiscal and taxation reforms, the rapid growth of China’s financial industry, and more. These studies explores China’s successful experience of economic growth in the past and will shed some light on China’s economic development in the future, providing value to economists and Chinese scholars.
Author(s): Chaoyang Wang
Publisher: Palgrave Macmillan
Year: 2022
Language: English
Pages: 152
City: Cham
Contents
List of Contributors
List of Figures
List of Tables
Chapter 1: Several Theoretical Issues on China’s Economic Restructuring
Chapter 2: Economic Operational Mechanism: Market-Centrism
Chapter 3: On Socialist Market Economy: Why the Shift from a Planned Economy
Chapter 4: On Inflation Since China’s Reform and Opening-up
Chapter 5: A Blueprint for Deepening Reform of the Urban Housing System
Goals of Reforming the Housing System
Basic Principles for Reform of the Housing System
Ways of Reforming the Housing System
Policy Recommendations on the Current Reform of the Housing System
Chapter 6: Economic Impact of WTO Entry and China’s Policy Responses
WTO Entry is a Rare Opportunity for Us to Revitalize the Chinese Nation and Go Global
Impact of WTO Entry on China’s Primary Industry (Agriculture) and Policy Responses
Impact of WTO Entry on China’s Secondary Industry (Industry in the Narrow Sense) and Policy Responses
Impact of WTO Entry on China’s Tertiary Industry (Service Industry) and Policy Responses
Chapter 7: Approaching Potential Growth Rate: A New Period of Rapid Economic Growth
Economic Growth Accelerates for Five Consecutive Quarters, Indicating the Arrival of a New Round of Rapid Growth
Framework for Analyzing Whether the Acceleration of Growth Is Reasonable: Actual Growth Rate and Potential Growth Rate
What Factors Are Driving the Growth Acceleration? Will the High Growth Rate Be Sustainable?
Main Indicators of Whether the Economic Growth Rate is Mormal and the Importance of Giving Full Play to the Role of the Market Mechanism
Several Issues Requiring Further Study
Chapter 8: New Focus in Opening-up Strategy: Playing an Active Role in Global Economic Governance
Chapter 9: From Economic Instrument to Cornerstone of National Governance: Ultimate Objectives of the New Round of Structural Fiscal and Taxation Reforms
Introduction
The Basic Goal: To Establish a Modern Fiscal System Matching the Modernization of National Governance
The Reform of the Tax System: Focusing on Structural Optimization
The Fiscal Expenditure Reform: Maintaining the Existing Scale While Adjusting the Structure
The Reform of Budgetary Management: To Bring All Revenue and Expenditures Under Budgetary Management
The Reform of the Fiscal System: Adhering to the “Tax-Sharing System” in Its Original Sense
Chapter 10: Rapid Growth of China’s Financial Industry: Causes and Risks
Introduction
Definition and Facts of High Growth in China’s Financial Industry
The Statistical Calibers for China’s Financial Industry
Accounting Methods for Value-Added of the Financial Industry
Proposal and Definition of High Growth in China’s Financial Industry
Characteristic Facts of High Growth in China’s Financial Industry
Analyzing the Causes of High Growth in China’s Financial Industry
Statistical Factors
Monetary Factors
Financial Innovations
A Comprehensive Interpretation
Potential Risks of High Growth in China’s Financial Industry
Potential Risks in the Financial Sector
Potential Impact of Financial Deleveraging
Conclusions, Recommendations, and Reflections
