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Monthly Archives: December 2017

INDUSTRIAL INTERVENTIONS in China

INDUSTRIAL INTERVENTIONS in China The various FYPs list a multitude of economic goals that China wants to achieve (see Chapter 4). In order to achieve these goals, the government uses a broad range of support measures which include tax incentives, granting of licenses, regulatory approvals, funding and subsidisation. These support...
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ALLOCATION OF FACTORS OF PRODUCTION in China

ALLOCATION OF FACTORS OF PRODUCTION in China China has moved from a system where essentially all prices are set by the State to a more complex system. For consumer goods, the main item still subject to State price fixing is pharmaceuticals. The government also controls the prices of commodities such...
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STATE OWNERSHIP in China

STATE OWNERSHIP in China Though the government has been announcing and implementing to various degrees reforms ostensibly intended to allow market forces to gradually come into play, government ownership remains widespread and varied. Ownership in sectors considered important (strategic or pillar industries) has traditionally been reserved for Chinese state-owned companies....
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BASIC FEATURES OF THE SOCIALIST MARKET ECONOMY in China

BASIC FEATURES OF THE SOCIALIST MARKET ECONOMY Prior to the launching of the ‘Open-door’ policy in China in 1978, which opened up for market-oriented economic reforms, the Chinese economy was essentially a closed, state-planned economy, mainly consisting of state-owned and collectively-owned enterprises. The move to a socialist market economy meant...
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THE 19TH PARTY CONGRESS in China

THE 19TH PARTY CONGRESS in China One of the main outcomes of the 19th Party Congress in October 2017 was the strengthening of the role of the Party’s leadership. President Xi Jinping’s work report, subsequent speeches during the 19th Party Congress, as well as the general programme of the amended...
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THIRD PLENUM DECISION of the People’s Republic of China CCP

THIRD PLENUM DECISION of the People’s Republic of China CCP In November 2013, at the Third Plenum of the 18th Party Congress, the Chinese leadership announced that it would undertake a comprehensive reform programme. In the Decision of the Central Committee of the Communist Party of China on Some Major...
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13TH FIVE YEAR PLAN of the People’s Republic of China

13TH FIVE YEAR PLAN of the People’s Republic of China The development of the socialist market economy is also explicitly referred to at two instances in the 13th FYP, in Part I, which contains the overarching principles and objectives of the 13th FYP, but also in Part XVIII, which covers...
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PROPERTY LAW OF THE PEOPLE’S REPUBLIC OF CHINA

PROPERTY LAW OF THE PEOPLE’S REPUBLIC OF CHINA PROPERTY LAW OF THE PEOPLE’S REPUBLIC OF CHINA Property Law of the People’s Republic of China,9 reads: Article 1 For the purpose of safeguarding the basic economic system of the state, maintaining the socialist market economic order, clarifying property ownerships, giving play...
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LAWS, PLANS AND REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA

LAWS, PLANS AND REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA LAWS, PLANS AND REGULATIONS OF THE PEOPLE’S REPUBLIC OF CHINA (revised in 2013),8 provides in Article 1: The Company Law of the People’s Republic of China […] has been enacted in order to standardize the organization and activities of companies,...
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