Lessons to Be Learned from the Shanghai FTZ

正DEVELOPMENTS since the launch last year of Shanghai’s Free Trade Zone(FTZ)illustrate once more that certain Western media still fail to grasp that China’s economic policy has achieved more than three decades of rapid economic growth.The signifi cance of the FTZ and the lessons to be drawn from it,therefore,merit an analysis of its development.China has famously developed its economic policy     

Symbiotic Development

China’s 30 or more consecutive years of express economic development have made it the world’s second largest economy.Growing pressure to sustain economic growth has led to the country’s new policy of innovation and opening-up.It will generate suffi cient economic momentum to take China to the medium and high end of the industry chain,and at the same time create new opportunities for the world economy.     

Chengdu,Today and Tomorrow

Since China launched the drive to develop western provinces, Chengdu, capital of Sichuan Province, has encountered swift and strong growth on the back of state policy support. The city’s momentum gained even greater steam in recent years as more and more manufacturing industries move inland from the east coast. Chengdu took     

Rising Sun?

Japan tries to establish itself on the international stage with its assertive foreign policy It has been a little more than four months since Shinzo Abe was sworn in as Japan’s prime minister. With a flurry of diplomatic activities and policy pledges,Abe and his cabinet have largely shaped a new foreign policy framework.     

Beyond Kung Fu China’s Film Industry Enhances Ties with the International Market

SINCE the beginning of the Chinese policy of reform and opening-up, and especially since the 1990s, China’s film industry has seen increasingly close exchanges with the wider filmmaking world. These days more screens are showing a greater variety of films from around the world than ever before. Many Chinese filmmakers enjoy creative, collaborative relationships     

INSPIRATION AND PERSPIRATION

<正>China’s policy of easing the academic burden on first to ninth graders has made it possible for children to spend more time on things they are actually interested in.Outdoor activities,like ice and snow sports,skateboarding and rock climbing,are gaining popularity among the nation’s youngest generation.     

Pursuing a Civic Dream

Party’s policy pledges give migrant workers greater hope in integrating into cities For 16 years, Ren Xiaoyun, a street cleaner, drove his truck past the Great Hall of the People during his daily waste collection route along Beijing’s Chang’an Avenue. Yet he had never entered the political landmark, and for a long time it seemed even more distant than his hometown.     

WEEKLY WATCH

Equal Pension Is Taxpayers’ Right Shenzhen in south China’s Guangdong Province has revised its pension policy to make it easier for workers without a Shenzhen hukou (permanent residence permit) to benefit from the city’s pension scheme. According to the new rule, non-hukou holders no longer need to contribute to the pension scheme for five consecutive years before retirement, but they are eligible for a monthly pension as long as they contribute to the city’s pension fund for 15 years or more. As a result, migrant workers and expats are entitled to the same pension treatment as Shenzhen’s hukou holders.     

ECONOMY

<正>Forex Reserves China’s foreign exchange (forex)reserves came in at more than$3.13trillion at the end of February,according to the State Administration of Foreign Exchange.The U.S.dollar index increased and the prices of global financial assets generally fell that month,affected by global macroeconomic data and monetary policy expectations of major economies.China’s forex reserves fell due to the combined effects of currency translation and asset price changes,according to the administra...     

Key Terms to Understand Reform and Opening Up

The China Academy of Translation has analyzed prevailing terms concerning the reform and opening-up policy and translated them into a number of foreign languages.The research institute is affiliated with the China International Publishing Group,the country’s leading international publisher.In each issue,Beijing Review presents a selection of these terms to help readers more deeply understand this program.     

Treading Lightly For Fast Growth

The Chinese Government announced in early 2012 that the country would continue implementing the proactive fiscal policy and prudent monetary policy to support a steady and relatively fast economic growth.On August 2,the People’s Bank of China,China’s central bank,released the     

Demographic Optimization

<正>China’s family planning policy has fulf illed its historic purpose of curbing population growth.In order to optimize the nation’s demographic structure,therefore,the Chinese Government implemented a twochild policy at the beginning of last year,which permits any couple to have two children.In fact,this was not the f irst time the family planning policy has been relaxed.     

A Positive Factor

China’s Special Representative on the Darfur Issue Liu Guijin recently clarified the country’s position on the crisis in Sudan at a Foreign Ministry press conference. He also addressed concerns about China’s weapons’ sales to Sudan and some attempts to tie China’s policy in Sudan to next year’s summer Olympic Games. The following are excerpts from the conference.     

PEOPLE/POINTS

Banking Consultants The People’s Bank of China, the central bank, announced on March 29 the appointments of three new scholars to the bank’s monetary policy committee.     

APivotalMoment

正Who are the winners and losers of the United States’rebalanced foreign policy?The cornerstone and legacy of U.S.President Barack Obama’s foreign policy was embodied through the declaration of a "pivot" to Asia five years ago.     

MARKET WATCH

正OPINION The Role of Risk China should keep an eye on debt risks.In an increasingly volatile financial market,risks may have positive effects,as market participants can better weigh risks and returns,and respond to changes in a more accurate way.Recent financial reforms,such as the central bank’s policy on deposit certificates in the interbank market and the initial public     

Moderate Yuan Depreciation——More Good Than Harm

<正>As the quantitative easing policy is gradually withdrawn by the U.S.Federal Reserve on the basis of economic recovery,the U.S.dollar will enter a phase of continuous interest rate increases.U.S.dollar’s appreciation will become an inevitable trend.Against this backdrop,the Chinese currency,the yuan,will face more depreciation pressure.As a matter of fact,the timing for the yuan to moderately depreciate has come,judging from both external and internal factors.Moderate depreciation of the Chinese currency is not only beneficial for economic recovery,but will also lift China’s A-share market.     

ALL-ROUND DIPLOMACY

Foreign Minister Yang Jiechi illustrated China’s foreign policy and external relations at a press conference on March 9 during the First Session of the 12th National People’s Congress, the nation’s annual parliamentary session. Edited highlights follow:     

Readjustment to China＇s Birth Policy

正Since its introduction of the one-child policy for most Chinese couples in the late 1970s,China has effectively reined in its rampant population growth.Benef iting from the policy,Chinese women have been liberated from the birth burden to a great degree and their education and employment situation has improved dramatically.To promote long-term,balanced development of the population,China is gradually adjusting its family planning policy.On December 23,2013,a bill to allow couples to have two children if either parent is an only child was approved at the sixth meeting of the Standing Committee of the 12th National People’s Congress.The move marks another major adjustment to China’s family planning policy since the country allowed couples to have two children if both parents are only children.     

Medicine Price Reforms

<正>New drug-pricing policy puts patients first China began to lift price ceilings on most pharmaceuticals on June 1,with the goal of creating a more market-driven pricing system that will help keep medical costs in check.According to the National Development and Reform Commission(NDRC),China’s top economic planner and the body that introduced the new regulations in early May,all