MERICS China's Political System header


China's Political System


Rowman & Littlefield 出版社 2016.12



    本书电子版可以通过Rowman & Littlefield 出版社或亚马逊订购。

China's Political System cover

4.4 The political initiation and implementation of economic reform

Xi Jinping announces start of “new era” for China

During the 19thParty Congress Xi Jinping declared China was entering a new era. The term reflects strengthening self-confidence it’s the country’s ability. This includes its economic ambitions to establish a strong, innovative and globally leading economy. In line with the ambition was the CCP’s declared goal of establishing a moderately prosperous society under socialism with Chinese characteristics.

Source EN, Source CN

4.6 The role of government in the banking and financial systems

People’s Bank of China cuts reserve requirement ratio

Banks who meet certain requirements will have their reserve requirement cut from 20 to 15 percent. In reality almost all banks qualify.

Source EN

The deposit requirement on currency forwards was removed

In order to cap the yuan’s strength, the central bank lifted the reserve requirements on currency trades.

Source EN

Mixed rules for investment

Outbound investment into gambling and entertainment industries will be banned, property investments restricted, while investment related to the Belt and Road Initiative will be encouraged. At the same time foreign direct investment into the country will be encouraged.

Source EN

Trust companies will soon be able to underwrite nonfinancial corporate bonds

The underwriting business was previously almost completely dominated by state owned enterprises.

Source EN

Small businesses financial difficulties to be alleviated

The State Council announced they have taken several measures to make banks’ lending to SMEs cheaper. Interest derived from loans to SMEs will be VAT free until 2019, loans to SMEs will be subject to lower tax and banks that lend to SMEs will be subject to lower reserve requirements.

Source CN

5.1 Political control and “social management”

New literature

New study in Science magazine gives merit to China’s previous One-Child policy.

5.6 The media and public opinion

Cyberspace Administration of China issues "Security Assessment and Management Regulations concerning New Technologies and New Applications in Internet News Information Service"

On October 30, 2017, China’s top cyberspace regulator published new regulations mandating a security assessment for new technology-based information products or applications, screening them, among others, for their potential to shape public opinion and mobilize the population. The regulations came into effect on December 1, 2017.

Source EN, Source CN

6.11 Environmental policy: Curtailing urban air pollution

Environmental protection at the 19th Party Congress

Xi Jinping announced new regulatory agencies to manage state-owned natural resources. Besides that, the CCP charter puts more emphasis on environmental protection: “raise awareness that lucid waters and lush mountains are invaluable assets” was added to it.

2.10.1 Regulation and law-making

Codification of National Anthem Law

On September 1, the Standing Committee of the NPC approved the National Anthem Law. The NPC Standing Committee further extended the law to Hong Kong in November.

Source EN, Source CN

Editor and principal author