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This third English volume of The China Economy Yearbook, based on the 2008 annual report in Chinese, provides an in-depth analysis of China’s economy during 2007 and predictions for 2008. Written by leading economic researchers from China’s premier economic research institutions, the articles in the yearbook examine key aspects of China’s economic performance, including the capital goods market, agricultural output, monetary policy, tax revenue, and sustainable growth metrics.
This English-language volume is an edited collection of articles from the 2010 Chinese-language volume of the Green Book of Population and Labor. It examines recent developments in the Chinese demographic transition and its implications, especially for the labor market. The global financial crisis in 2008 and 2009 impacted the Chinese labor market during and after its occurrence; it hit the real economy and caused lay-offs for urban workers and a mass exodus of migrant workers from the non-agricultural workplace. The Chinese economy recovered quickly, thanks to the government’s fiscal stimulus package. It was impressive to see social protection programs implemented by the central and local governments with the interests of vulnerable people in mind. This volume intends to draw some lessons from the experiences and to discuss the trends of the labor market and social protection in the post-crisis period by focusing on three issues: policy measures, challenges to future growth, and the vulnerability of factions within the labor market.
This second English volume of The China Economy Yearbook provides an in-depth analysis of China’s economy during the initial year of China’s 11th 5-Year Plan. Written by leading economic researchers from China’s leading economic research institutions, the articles in the yearbook examine key aspects of China’s economic performance, including macroeconomic adjustment, inflation control, the financial system, public finance, foreign trade, agriculture, industry, and real estate.
Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
This first English edition of The China Economy Yearbook, edited by standout economists Liu Guoguang, Wang Luolin and Li Jingwen, includes leading economic studies from the Chinese Academy of Social Sciences, Tsinghua University, and other economic research institutions in China. The articles in the yearbook investigate the Chinese economy in the past year from various perspectives, ranging from decision making at the macro level to key industries at the medium level, including real estate, foreign trade, the automotive industry, financing, and investment. This volume also includes special chapters on the economies of Taiwan, Hong Kong and Macao.
This book presents the very first, interdisciplinarily grounded, comprehensive appraisal of a future “Common European Law on Investment Screening”. Thereby, it provides a foundation for a European administrative law framework for investment screening by setting out viable solutions and evaluating their pros and cons. Daimler, the harbour terminal in Zeebrugge, or Saxo Bank are only three recent examples of controversially discussed company takeovers in Europe. The “elephant in the room” is China and its “Belt and Road Initiative”. The political will in Europe is growing to more actively control investments flowing into the EU. The current regulatory initiatives raise several fundamental, constitutional and regulatory issues. Surprisingly, they have not been addressed in any depth so far. The book takes stock of the current rather fragmented regulatory approaches and combines contributions from leading international academics, practitioners, and policy makers in their respective fields. Due to the volume’s comprehensive approach, it is expected to influence the broader debate on the EU’s upcoming regulation of this matter. The book is addressed to participants from academia as well as to representatives from government, business, and civil society.
With its easy-to-use format, this book provides a collection of annual data on China’s 56 ethnic groups. It is a resource book that profiles the demography, employment and wages, livelihood, agriculture, industry, education, science and technology, culture, sports, and public health for each of these ethnic groups. This material, which is compiled from a variety of sources, will be of great value to researchers, businesses, government agencies, and news media. In this book, data are presented on an ethnic group-by-ethnic group basis, and the ethnic groups are ordered alphabetically, from the Achang to the Zhuang. Though most of the data are as of 2011 – the latest year when our research was conducted, we also provide some historical data for a few of indicators. This is intended to help readers to conduct time-series comparisons and analyses.
The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.
The most comprehensive English-language overview of the modern Chinese economy, covering China's economic development since 1949 and post-1978 reforms--from industrial change and agricultural organization to science and technology.
This publication offers a synthesis of the major factors at play in the global food and agricultural landscape. Statistics are presented in four thematic chapters, covering the economic importance of agricultural activities, inputs, outputs and factors of production, their implications for food security and nutrition and their impacts on the environment. The Yearbook is meant to constitute a primary tool for policy makers, researchers and analysts, as well as the general public interested in the past, present and future path of food and agriculture.