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Abstracts of Papers Published by the Faculty of Tsinghua Institute of Economics

The Eighth Issue

Cai Jiming Rural Vitalization Cannot Be Achieved without New Urbanization, Architectural Design Management, 2018(04)
[Abstract] “The strategy of rural vitalization” is one of the seven development strategies set forth in Xi's Report to the 19th CPC National Congress, but the previously mentioned six ones do not contain the new urbanization strategy that has always been stressed since the 18th CPC National Congress. However, if the strategy of rural vitalization is separately implemented away from the new urbanization strategy, it might have little effect. It is known that the three rural issues remain top priorities of the Party work, of which the crux is the contradiction between people and land in rural areas. Despite a decline in the per capita income gap between China’s urban and rural residents, such decline is mostly owed to migrant workers’ income. At least half of 280 million migrant workers in China at present have been regarded by National Bureau Statistics as…
Cai Jiming, Sticking to Inclusive and Prudential Regulation to Promote the Healthy Development of the Online Car-hailing Industry, Auto Review, 2018(04)
[Abstract] Some cities have rigorous conditions in place for access to the online car-hailing industry. Interim Measures for the Administration of Online Taxi Booking Business Operations and Services makes clear the legal status of the online car-hailing industry, reasonably regulates the industry access and shows encouragement for new types of business, but it provides no principled guidance and constraints of detailed rules and regulations issued by local governments. As a result, some local governments limit driver access with requirements such as house registration and residence permit, and restrict vehicle access with vehicle model, price, wheelbase and other indicators. These conditions are too rigorous, for example, household registration restrictions,
Cai Jiming, A "Separation Wall" Should Arise in the Real Estate Market, Beijing Observation, 2018(04)
[Abstract] Increasing effectively supply of urban housing requires breaking the seller’s monopoly of the government over urban residential land, supply-side reform of the real estate industry and diversification of urban residential land and housing suppliers. To safeguard residents’ housing needs, it is first required to build a “separation wall” between owner-occupied housing and investment housing, so that the two markets can fully development without disturbing each other.
Li Meng; Huang Dehai; Explore the Construction Path of China's Legal System of Free Trade Zone, China Business and Market, 2018(02)
[Abstract] Currently, China has formed a new “1+3+7” gradient development pattern under its free trade zone strategy, which requires a supporting legal system to provide corresponding legal guarantees, while state legislation, authorized legislation, legislation for democratic autonomy and the internationalization of system content are the most important legislative issues in the establishment of China’s legal system for free trade zones. State legislation, as the top-level design of rule of law, can provide comprehensive and effective legal guarantees for the strategic development of free trade zones. Hence, state legislation should be established and enacted as early as possible and higher-level laws conflicting with institutional innovation by free trade zones should be changed in the legal principle of “new laws preceding over old ones and special laws over general ones”. Meanwhile, a “comprehensive law” should be established to reasonably restrict and limit local authority for institutional innovation by free trade zones, prevent local vicious competition and unfair market competition. Authorized legislation can provide more adequate independent management authority for front-line authorities of free trade zones and bring into full play the advantages of free trade zones such as freedom, openness and independent innovation. By referring to the practice of special economic zones, efforts can be made to establish an authorized legislation system for free trade zones complying with the traditional process of building independent administrative divisions→ setting people’s governments, people’s congresses and their standing committees in free trade zones→ authorizing legislation directly by the National People’s Congress and its standing committee or the State Council, so as to balance the relationship between rule-of-law stability and reform efficiency. Legislation for democratic autonomy emphasizes listening to the voice from grassroots, which accords with the idea of market-oriented operations advocated by the free trade zone strategy and is a major path to create a favorable business environment ruled by law. Efforts can be made to establish a sound mechanism of participating in free trade zone legislation through systems of the right to know free trade zone legislation, democratic supervision of legislation and legislative assessment, so as to fully safeguard the right of the public and market players in free trade zones to participate in free trade zone legislation. The internationalization of system content can facilitate Chinese free trade zones to quickly be integrated into the world economic pattern and lead the integration of the Chinese market to the international one as demonstrative opening-up windows. Whilst strengthening incorporation of international treaties and conventions into domestic laws, China should focus on international promotion and dividend sharing in respect of institutional innovation by free trade zones.
Bu Pengbin; Wang Xiaoya; Tu Xinquan; Huang Dehai, Analysis of the Impact of Taiwan's Accession to WTO Agreement on Government Procurement on China's Health Negotiation Strategy, China Government Procurement, 2018(02)
[Abstract] Since it acceded to WTO Agreement on Government Procurement (GPA) eight years ago, Taiwan China has constantly increased its participation in international trade and gained a lot of government procurement market opportunities, improving the impact of Taiwan in world economy. Local suppliers play a dominant role in government procurement in the field of health, with few complaints from foreign merchants. Changes in the government procurement market and legal environment in Taiwan are of important referential significance to China’s ideas and methods of dealing with the accession of its health sector to GPA. On July 15, 2009, Taiwan became the 41st member of WTO’s GPA in the name of Chinese Taipei.
Long Denggao; Gong Ning; Yi Wei, Innovation in Financing Model by Modern Charity Organizations--A Case Study of Hai-Ho Conservancy Commission Issuing Bonds, Modern Chinese History Studies, 2018(01)
[Abstract] Hai-Ho Conservancy Commission successfully issued nine bonds over 50 years from 1898 to 1948, which presents an innovative financing model of modern charity organizations. Dust-laden foreign archives reveal this rarely known institutional legacy. Customs duty, as a major source of funds and bond guarantee of Hai-Ho Conservancy Commission, grants special attributes, functions and features to bonds it issued. Bond financing is in nature to realize future taxes, thus funding rapid completion of major dredging engineering in advance. Such engineering facilitates navigation, expands import and export trade and increases customs duty, thereby enhancing bond credit and reducing risks in issuance. Therefore, ship companies and foreign merchants not only are willing to accept bond apportionment and purchase, but actively recommend the addition of new customs surtax, so as to launch more dredging and ice-breaking engineering. Thus, a benign cycle occurs among bond financing, increase of customs duty and channel improvement, which promotes trade and bring benefits to stakeholders.
Long Denggao, From Equalization of Land Rights to Encouragement of Land Circulation, Hebei Academic Journal, 2018(05)
[Abstract] Equalization of land rights was the mainstream trend of thought and put into practice in the 20th century. Equalization of land ownership was implemented in the early 1950s and equalization of land use right pursued in the early 1980s. However, under the influence of variables such as women getting married, change in family member structure and population flow, the initial equalization was quickly broken, which, together with other factors, making it hard to maintain dynamic combination of land and labor. In the 21st century, land circulation is encouraged, meaning the transformation from government-led allocation of agricultural land to market-oriented allocation.
Feng Zhixuan; Chen Weikai; Li Bangxi, Recent Development of Political Economy Abroad (2017), China Review of Political Economy, 2018(05)
[Abstract] The progress in the research on Marxist political economy abroad in 2017 is mainly reflected in four aspects in terms of basic theories, such as theories of value, exploitation, profit margin and capitalist macroeconomic dynamics. The research on contemporary capitalist economic reality focuses on discussions about empirical research method, income distribution, financialization, ecology and unbalanced development of the capitalist world. This paper contains summaries and comments around the above-mentioned nine issues in the two fields. Also, the paper particularly explores the progress of Marxist political economy in Japan in 2017.
Zhao Feng; Zhao Yihan; Li Bangxi, Fixed Capital, the Priority Growth of Production Material and Industrialization—Based on the Structure Analysis of Three-department of Reproduction Schema, Teaching and Research, 2018(03)
[Abstract] The priority growth of production material is an important issue that arouses an ongoing debate over both theories and experience. From the perspective of structures of fixed capital and circulating constant capital, this paper reexamines the proposition and discusses its relationship with technological level and income distribution. In the framework of the three-department reproduction model containing fixed capital, we estimate three-department fixed capital coefficients in China from 1990 to 2012 and on this basis conduct a deep empirical analysis of growth structures of these departments. Results show that in the process of China’s industrialization, the growth of the fixed capital department is faster than departments of circulating constant capital and means of consumption; the improvement in organic composition of capital is mainly owed to improved organic composition of fixed capital, which type of technological progress shows higher demand for fixed capital than for circulating constant capital; in the New Normal stage, the profitability of the means of consumption department remains higher than that of the other two departments; hence the former becomes the main impetus for social capital accumulation and socioeconomic development and gradually shows the potential of driving the growth of circulating constant capital and fixed capital.
Wang Peng; Wang Yong, On the Transformation of State-owned Assets Management Model: A Case Study of the Mixed-ownership Reform of China Unicom, Modern Management Science, 2018(02)
[Abstract] The paper studies the background, features, strengths and weaknesses of the traditional SASAC model and Huijin Model by analyzing the development history of state-owned enterprise (SOE) reform at present. Then, with the example of the mixed-ownership reform of China Unicom, it probes into problems and challenges in the current mixed-ownership reform. Thus, the paper draws the conclusion that in future, state-owned assets management model might develop towards the direction of SOE reform featured co-management by multiple state-owned equities.
Wang Shengsheng, The New Age of Economic Development Embraces Common Development of State-owned Economy and Private Economy, China Small & Medium Enterprises, 2018(03)
[Abstract] Adhering to “being unswerving in two aspects”, encouraging and supporting common development of state-owned economy and private economy are key principles of constantly improving our national system of economic governance in the new age. The latest data released by National Bureau of Statistics shows that in 2017, among Chinese industrial enterprises above designated size, state-holding enterprises achieved total profit of RMB 1,665,120 million, representing an increase of 45.1% over the previous year, while private enterprises achieved total profit of RMB 2,375,310 million, representing an increase of 11.7%. Someone is concerned about this as it reflects “the state advances as the private sector retreats”. But is that really the case?
Zhou Zhen; Cai Wanhuan; Wang Shengsheng, Study on the Paradox between Commercialization of Labor Force and Housing, China Review of Political Economy, 2018(01)
[Abstract] Commercialization of housing is a reform measure to solve and improve living conditions of laborers. Since such commercialization, housing conditions of Chinese residents have been greatly improved, with economic and social problems that cannot be overlooked. What underlies these problems is the commercialization of labor force accompanying that of housing. Housing, as a special commodity, is a necessity of life, but the consumption demand of labor force reproduction for necessities of life is not well addressed in the process of reform amid the commercialization of labor force. There are a number of paradoxes between commercialization of labor force and that of housing, which are main sources of current housing problems in China. Housing problems of laborers should be analyzed and solved from the perspective of commercialization of labor force and reproduction, and such problems should be integrated into the whole process of social production.