I recently spent a week with officials from Beijing and understood by the conversation. There is the Chinese, senior foreign officials and top business officials will join the China Development Forum (China Development Forum) was participating in the annual meeting. The Chinese government recently had his 13 th five-year plan and the public authorities of China for the future, the plan is that the purpose was to explain earnestly.China has 50 new airports and thousands of miles of new roads and railways to make millions of people less ambitious yojanasamgai productivity of the agricultural sector will transfer dozens of new cities.The last five-year plan and specific project goals this year despite a seemingly endless list of new major theme is 'supply side restructuring' is. Supply side reconstituting the economic growth and macro-level policies are included in the aim of improving living conditions. 'Supply side' word that policies in general these new large fiscal deficit and a simple measurement of money to show a different aspect from the traditional demand. The purpose was to strengthen the demand side of economic interests come before those measures are.Supply side policies are still high in the list of state-owned companies and coal industries to eliminate some excess capacity is. This means that 40 million workers, reduce the number of China's total workforce, which is equal to about zero point five per cent. Plan to stay unemployed workers to provide support gives the right to establish a special fund. Experts believe that more workers to be cut, but the authorities how the scheme works and how people's reaction can be monitored to understand that for a small number of cuts are going to start.China has 50 new airports and thousands of miles of new roads and railways to make millions of people less ambitious yojanasamgai productivity of the agricultural sector will transfer dozens of new cities. Officials' a belt, a road project are also presented. The other part of China, Asia, Central Asia and perhaps Europe has also connecting ports, railroads and highways, the project to develop Chinese financial support and resources will be used. And more than that on the area of foreign policy goal is to expand China's influence. This industrial capacity of China will also provide access to export opportunities.In addition, the tax rate for high-tech companies, at least by the authorities intended to encourage research and innovation have shown so vikasamarpa m. China's value-added tax rate from the improvement in the service sector will also expand. Banks and financial improvement in deposit interest rates paid and the debt that marked the boundaries of scams has been charged.At this time, China's foreign exchange rate system has been seen enough confusion. In recent years, the relative decline in the US dollar, the Chinese yuan currency products to Chinese competition is to encourage American companies come grievances. But in other developed countries since 2010 mudraharubhanda also has a strong Chinese currency sapeksikarupama 25 percent. The authorities have promised might leave the market to determine the exchange rate, and there is no reason for a reliable slide. But the authorities have since informed the dollar will continue to Yuan relative to a currency basket exchange rate management will decline sharply vis the yuan more have expressed concern. It is expected that such a capital outflow increases.The next five years the government policies for the environment sudharagarne place is high on the agenda. Public clean air, river and are desperate for the role. To achieve this goal the government adopt the new rules and the financial treatment to energies and low carbon emission sources for the Green bondsa (green bond) will be created. Chinese car companies will be encouraged to produce high-end cars. The government has a clear foreign car companies to produce high-end cars do not take steps to reduce their share of the market is giving a warning.To improve the quality of life of Chinese consumers to buy quality products that also need to encourage. China Development Forum, a government minister last year 10 million Chinese tourists went abroad to buy a billion dollars by using your credit card, which they can not get at home, he said.China is still in low-income countries. China's per capita income of 14 thousand dollars, which is only about a quarter of US per capita income. Beijing and Shanghai were also relatively rich, there is more poverty. In 2020, five-year plan to achieve the goal of reducing poverty is public. To achieve this goal, the number of poor people lose the five and a half million. The poverty line of 354 dollars annual income that is less than one dollar a day by someone who is defined.Chinese karporesanaharuko high levels of debt can be a source of financial instability. But many officials have stressed they were not necessarily concerned about the practice. Official figures on the gross domestic product has doubled in comparison with banks in the United States shows that debt ratios. More concern is inactive part of the loan can be very dangerous.But if it is part of the authorities indicated that the statistics of China 's higher than in Western countries is very different from the problem of bad debts. China's largest corporate debtors are state-owned companies, and they said Sahu said that banks are government owned. So bad credit solutions include government and government owned banks should be transferred loss. Because of the relative low government debt and nearly 17 percent of GDP 9kula 0 The government of loss difficult to be absorbed.China Development Forum President Xi Jinping put a high-level corruption continue to discuss karavahibarema not hard. Many high-level corruption hampered the economic decision making process and the concept of gross domestic product ¥ being too slow might have said. The stage property rights are being challenged nor give any discussion about interest vamapanthaprati broad ideological shift. Property right to challenge those who are seeking to protect their assets due to capital flight will boost.But China is a complex puzzle rahirahesamma the next five-year period, real decimal five percent or more of annual growth in production reverted to the authorities by a clear-market reforms supported badhairahanechan. It's real per capita income doubled in 2020, which will make the Chinese Communist Party in 2010, I was told. If the target point, the Chinese government as part of a reduction efforts will be.(Harvard University economics professor Martin is pheldastina. In 1 9 9 84 82 to 1 by the then US President Ronald Reagan was president of the Economic Advisory Council. Project syndicate, anuvadaka Dilip Officer)
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