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China in Brief
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Ethnic Minorities in China
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China's War on Poverty
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Q: China began to adopt a proactive fiscal policy in 1998. After being implemented for seven years, the proactive fiscal policy was changed to a prudent fiscal policy. What are the differences between these two policies? What is the main purpose of a prudent fiscal policy?
Q: The stock market is the barometer of economic development. However, China's rapid economic growth and long-term sluggish stock market are in striking contrast, something rarely seen in worldwide securities markets. What is the reason behind this phenomenon? What are the defects in China's stock market?
Q: In recent years, the crime of money laundering has become a focus of concern in the international community. Reports say that each year nearly US$10 billion is laundered in China. What does China have to say about this? What measures have been taken to crack down on money laundering? What achievements have been made?
Q: China is one of the few countries controlling its foreign exchange. Since reform and opening up, China has begun to reform its foreign exchange administrative system. How is reform happening? The long-term goal of this reform is to make RMB convertible; under what circumstances can this goal be realized?
Q: When China accessed the WTO, it pledged to gradually open its financial sector. How is this going? What measures will be taken to further open the financial sector? What sort of competition will domestic financial institutions face after the original policy protection ends?
Q: Some media outlets say that China has done well in most aspects of reform, with the exception of the reform of state-owned commercial banks, which have a high volume of non-performing loans (NPLs). They say that the financial sector may hinder China's economic development. What do you think of these comments? What has China done to reform its financial system since the country's reform and opening up? What are the goals of financial reform?
Q: China has lowered the RMB deposit interest rate eight times since 1996, but residents' savings have still grown at a rate of more than 1 trillion yuan (US$120.92 billion) annually. What is the reason behind this growth? How will the government encourage residents to invest or consume?
Q: In recent years, the Chinese Government has issued a certain scale of long-term treasury bonds for construction every year. Where have the treasury bonds been invested? What part have they played in facilitating China's economic development?
Q: China's tax revenue grows more than 20 percent annually, and has become an important source for China to accumulate wealth and increase national strength. Since reform and opening up, what reforms have been conducted on the taxation system? What are ideas for future reform?
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