三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
World
Home / World / World Watch

Opening-up is answer to economic overhaul

By Chi Fulin | China Daily Global | Updated: 2019-09-10 09:24
Share
Share - WeChat
An aerial view of downtown Shenzhen in South China's Guangdong province. [Photo/Xinhua]

Since the Chinese economy has already become interwoven with the global economy, a greater level of opening-up is the answer to China's economic overhaul. Greater openness, which drives greater reform and overall development for a rising China, will balance domestic and international interests.

China should adopt a high level of opening-up to establish a high-quality market economy and ensure the decisive role of the market in resource allocation. It has built a market economy of socialism over the past four decades, but the system is far from perfect.

For starters, government intervention persists at all levels. China's service sector has yet to open up to foreign players, and the reform of State-owned enterprises faces stagnation. To tackle such problems, China needs to give full play to the market in resource allocation. It should open up its service sector and let SOEs, domestic private enterprises and foreign companies compete on a level playing field.

China needs to prioritize competition - the "invisible hand" and a crucial indicator of a market economy. A competitive market requires the government to stay in the back seat and the market to take the driver's seat. It has to follow internationally accepted trading rules and create a fair and equal environment for market competition. For instance, it should scale back industrial subsidies.

Chinese tech giants like Huawei, Tencent, Alibaba and Baidu have grown bigger not because of government subsidies or industrial policies, but because of market competition. On the contrary, heavily subsidized enterprises seldom become successful or competitive.

As the Chinese market economy matures, subsidies and some industrial policies have strangled creativity and spawned unfair competition. Enterprises, not government, should assume the leading role in industrial upgrading and transformation. Entrepreneurship, not government intervention, will conquer new grounds in innovation.

In China, local governments' turf wars have impeded market competition. For instance, the inconsistent technology standards and trade barriers set up by local authorities have taken a toll on the market of new energy vehicles. About 70 percent of these cars are produced and sold locally. The car producers got sidelined when the local governments got involved, causing redundancy, overcapacity and low efficiency in resource allocation. In 2008, only 2 million new energy vehicles were sold, but the manufacturing capacity reached 20 million.

Private enterprises do not receive the same treatment as SOEs, and the inequality is glaring. Private companies, which contribute more than 60 percent of the national GDP, get only 20 percent of total financing, at a cost 1.5 percent to 2.5 percent higher than SOEs.

A New Type of Large Open Economy: China's Choice in Jointly Building an Open World Economy, was published on 10th September and Chi Fulin, president of China Institute of Reform and Development, is chief editor of the new book. [Photo/provided to chinadaily.com.cn]

A more credible government aiming for a fairer market environment should reform on many fronts. It should press ahead with the SOE reforms. It should ensure that State-owned and private enterprises have equal access to capital and other resource factors. It should step up intellectual property protection to unleash creativity and entrepreneurship. It should streamline the local governments and remove administrative approvals and requirements that have become incompatible or obsolete with current economic development.

Fair competition, not market conduct, should top the supervision agenda of the Chinese government. Governments of market economies are obliged to keep an eye on the market to avoid foul play. The reform in the Chinese government's supervision has just started. Since market share cannot be viewed as the sole criterion of monopoly in e-business, then how could the Chinese watchdogs detect monopoly and unfair competition in its booming digital economy?

The rapid increase in service consumption and the growing service sector are pushing Chinese supervisors to focus on service. China should learn from international examples to establish its own supervising system for the digital economy, and adopt international industrial and supervision standards for food, medicine and finance.

Governments at all levels and official policies of all industries should be subject to a review system of fair competition.

China should roll out a raft of measures to tackle administrative monopoly, the crux of its reform in market supervision. Chinese manufacturing is 90 percent exposed to market forces, but the investment from private enterprises accounts for less than 50 percent in the service sector. As a result, China should adjust the Anti-Monopoly Law, which does not apply to such administrative monopoly.

The amendment cannot wait. It should include details about fair competition review and administrative monopoly. The Anti-Monopoly Commission under the State Council as well as the State Administration for Market Regulation, as official organs that fight monopoly and unfair competition, should not remain toothless, but become empowered.

The author is president of the China Institute for Reform and Development. The views do not necessarily reflect those of China Daily.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 色播在线播放 | 老司机成人免费精品视频 | 亚洲午夜久久久 | 九九热线 | 国内视频拍拍视频在线观看 | 日韩五级片 | 日韩欧美黄色 | 久综合网 | 欧美黄色片在线播放 | 久久综合伊人 | 日韩欧美毛片免费观看视频 | 国产黄色精品 | 多男一女一级淫片免费播放口 | 妞干网中文字幕 | 亚洲欧美日韩不卡一区二区三区 | 免费又色又爽的视频国产 | 国产成人盗拍精品免费视频 | 国产香蕉在线观看 | 亚洲精品一区二区三区在 | 在线精品自拍亚洲第一区 | www一级片 | 九九色综合 | 中文字幕亚洲欧美 | 亚洲国产综合第一精品小说 | 成人性生交大片免费看午夜a | 国产一级一片免费播放视频 | 给我一个可以看片的www日本 | 亚洲精品自产拍在线观看 | 香蕉高清免费永久在线视频 | 一 级 黄 色蝶 片 | 国产在线视频在线观看 | 成人午夜大片免费看爽爽爽 | 成人国产精品999视频 | 久久综合给合久久狠狠狠色97 | 免费日本一区 | 在线小视频国产 | 日本一级特大毛片 | 国产亚洲精品第一综合linode | 不卡一区二区在线观看 | 亚洲欧美一区二区久久香蕉 | 欧美性一区二区三区 |