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Growth Strategy

China's Growth Strategy. Growth Strategy. Three Policy Goals – Reform, Development and Stability. China’s unique conditions. A Sustaining Liberalization Approach. ----Non shock therapy approach ----Experimental area ----Interim measures to ensure smooth transition ----A Chinese way.

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Growth Strategy

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  1. China's Growth Strategy Growth Strategy Three Policy Goals – Reform, Development and Stability China’s unique conditions OECD/APEC WORKSHOP September 19, 2001

  2. A Sustaining Liberalization Approach ----Non shock therapy approach ----Experimental area ----Interim measures to ensure smooth transition ----A Chinese way OECD/APEC WORKSHOP September 19, 2001

  3. Regulatory Reform over the Past Two Decades First phase(1978-1987): Open door policy to absorb foreign investment, and reform to decentralize decision-making power Second phase(1987-1992): an economic system of market-mechanism combined with planning, further decentralization in industry, trade and other sectors Third phase(1992-now): A market economy with Chinese characteristics OECD/APEC WORKSHOP September 19, 2001

  4. Foreign Trade and Investment Foreign investment (in 2000) ----Foreign Investment: 10% of total investment in fixed asset ; ----Import & Export: 49.9% ----Taxation: 17.5% ----More sectors/fields opened to foreign investors Foreign Trade: ----Right to trade: granted to more companies(State-owned and non-state owned) ----Tariff reduction: from 35% in 1995 to 15% in 2001 ----Administrative approval to be further slashed OECD/APEC WORKSHOP September 19, 2001

  5. Reform in Government Functions Legislation Mechanism Reform 1. Legislation Law—basic principle: ----Procedures for legislation making ----Public participation ----Transparency and democracy To be continued OECD/APEC WORKSHOP September 19, 2001

  6. Reform in Government Functions Legislation Mechanism Reform 2. WTO rules and regulatory reform: Drafting or amending legislation procedures according to the WTO rules ----Ministries of the State Council: to abolish more than 800, amend 300; ----MOFTEC: to abolish more than 500, amend 120 and draft 26 new of its 1400 laws, regulations, decrees and rules OECD/APEC WORKSHOP September 19, 2001

  7. Reform in Government Functions Administrative Approval Reform --Drafting Administrative Approval Law -- Reducing the existing administrative approvals: --Ministries of the State Council --Local government at all level OECD/APEC WORKSHOP September 19, 2001

  8. Reform in Government Functions Follow-up Administrative Review System Administrative Review Law:(compared with the Regulations of Administrative Review) ----More cases to be received ---- Case must be accepted and reviewed in a shorter time ----74,448 review cases came up in 2000, 68,957 accepted and reviewed. OECD/APEC WORKSHOP September 19, 2001

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