Impact of the US Credit Crunch and Housing Market Crisis on China

Similarities between the US, the UK and the Chinese housing markets, including the movements of interest rates and house prices, and the exposure of some Chinese banks to the US mortgage securitization market, have triggered concern about whether China could experience a US-style credit and housing market crisis. Significant differences between China and Western economies make that unlikely in the near future. China's booming house market has been supported by fast economic growth, rapid urbanization and high domestic savings. Chinese banks have also been less exposed to mortgage defaults than their Western counterparts. However, the relative underdevelopment of the financial system—credit monitoring and asset securitization—may expose China to domestic mortgage lending-related crises.     

浅议市民社会与完全市场经济体制的建立

去年以来,完全的市场经济地位问题已经成为国人共同关注的一个重大问题。与外国政府谈判,使其承认中国完全的市场经济地位当然非常重要。但是,我们更应该反省我们是否已经建立了完全的市场经济体制。本文认为,市民社会是市场经济的基础,没有发达的市民社会就不会有成熟的市场经济。所以,要彻底解决我国完全的市场经济地位问题,需尽快型塑具有中国特色的市民社会。     

Can Trade Green China? Participation in the global economy and the environmental performance of Chinese firms

How does participation in the global economy influence the pollution management practices of firms in a developing country? Research on trade and the environment leads one to anticipate that integration into the international economy should enhance domestic firm environmental behavior. Integration facilitates access to cleaner technology, exposes domestic firms to global norms of corporate environmentalism, and compels developing country firms to meet trading partners' environmental standards or risk losing market access. This article tests these propositions by exploring the environmental compliance of internationally oriented firms in China—a country whose rapid economic expansion and increasingly prominent role as a foreign investor have considerable implications for protection of the global environment. It finds that there is only modest market-induced enhancement of environmental performance among Chinese companies. In terms of their compliance with environmental law, Chinese firms with connections to the global economy are either no better than domestically oriented companies or, in the case of firms that export heavily, are worse.     

汽车消费信贷风险及其动态博弈分析

随着中国汽车消费市场的逐步升温，汽车消费信贷市场渐成扩张之势，汽车消费贷款已成为继个人住房贷款之后重要的消费信贷品种。与此同时，汽车消费信贷的风险也与日俱增，主要包括信用风险、市场风险和操作风险。通过建立不对称信息动态博弈模型分析了我国现阶段汽车信贷市场中银行和个人消费者的博弈情况，在此基础上提出了完善信贷消费市场的建议：健全相关的法律法规，改善汽车信贷的制度环境；提高汽车信贷专业化水平，完善风险控制；加强银行内部管理，合理利用法律保障手段。     

中美证券投资基金管理人行为:差别与原因

证券投资基金制度在国外成熟资本市场已经发展了一个多世纪,其制度的完善、运行的效率都值得我们借鉴。美国共同基金的发起设立是一种完全市场化的行为,而随着"好人举手"政策的出台,中国证券投资基金实行了很久的行政审批制正逐渐放松。但是,证券市场浓重的投机氛围,扭曲了基金管理人的精神和企业的组织结构,而投资理念恰恰是基金管理人的灵魂。借鉴国外完善的证券投资基金制度,规范和引导中国基金管理人行为,有助于促进证券投资基金制度在中国健康发展。     

金融衍生工具创新风险及其防范

我国需要发展金融衍生产品,但发展衍生产品的基本条件:发达的基础金融市场、完善的风险监控体系、理性市场参与者,在我国还不成熟。文章认为我国应该通过试点,待经验成熟后,再逐步推广,以控制证券市场风险。     

游客形象对中国公共外交的影响分析

中国已经成为世界第一旅游消费大国,庞大的出国人群原本可以成为公共外交的使者和国家形象的代言人,遗憾的是,此起彼伏的中国游客不文明行为,不仅引起目的地居民的反感,而且降低了中国政府公共外交的可信度,使国家形象受损。在全民外交时代,应加强对游客形象问题的研究,探究其对公共外交的影响程度,充分发挥个体在公共外交中的积极作用。     

The Rising Urban Poverty: A dilemma of market reforms in China

Twenty years of market reforms have produced a thriving private sector motivated by revenue-generating opportunities and have made China as a whole wealthier. Aimed at balancing market efficiency with the Maoist concept of equity, the reforms have brought about a widening income gap and rising unemployment. These two predominant factors have had negative effects that are responsible for the emergence of a large group of urban poor whose demand for basic needs is under threat. Urban poverty, which may be ideally seen as transitional, has caused great concern as its duration may be persistently long for any political tolerance. This paper investigates the causes of urban poverty, unemployment and rising income disparity in China. It also explores the life conditions and characteristics of the urban poor, and some measures are suggested for the purpose of alleviating urban poverty.     

完善中国票据市场发展的系统思考

在经历过20世纪80年代的起步发育到90年代的规范、发展，中国票据市场近年来呈现持续快速的发展趋势，票据融资功能在金融市场中的地位日益重要，票据市场成为货币市场重要的组成部分。该文对中国近十年票据市场情况以及票据市场规模在快速发展后发展速度又放缓的问题进行了分析，并对中国票据市场进一步的发展完善提出一些思考与建议。     

社会建设：双向运动中的中国利益格局重建

在社会转型初期，自由市场逻辑主导下的社会变革激发了社会活力，释放出了巨大能量，但也因利益在社会成员中的不均衡分布而产生对经济发展公平性的质疑。伴随市场力量的不断强大，社会自我保护力不断增强，使得社会矛盾呈愈演愈烈之势。在世界社会治理机制由一元向多元转变的趋势下，中国也开启了社会治理机制的变革之路，其核心议题在于建构何种国家、市场与社会力量的分配格局。这对于深化中国社会转型进程，实现社会稳定有序，奠定社会管理的社会基础具有十分重要的意义。然而，如何进行社会建设，不能给出简单的、想当然的结论，而需要挖掘其背后的支配逻辑——双向运动，以此重塑国家、市场与社会三者之间的关系。     

中国法律服务市场开放问题浅析

法律服务市场开放问题属于<服务贸易总协定>(CATS)的调整范围.在GATS框架下,各国法律服务市场开放主要面临三种障碍,即市场准入障碍、国民待遇障碍和政策障碍.开放法律服务市场是我国履行世贸组织下的具体承诺的必然要求和表现,但我国也应充分利用GATS的规则,采取逐步开放的政策,最大限度地为我国的法律服务市场提供保护.     

WHERE DOES CHINA'S SECURITIES MARKET GO FROM NOW?

On December 19,2010,China’s securities market turns 20.The past two decades have witnessed the market start from scratch and grow steadily,withstanding the near-cataclysmic 1997 Asian financial crisis and the 2008 global financial crisis.Now,it is opening up to the outside world and merging into the international financial environment.Its role in propelling the Chinese economy is undeniable,but as the securities market continues to expand and adapts to the changing world environment,one question arises:What is the next step on its path of development?     

海峡两岸多层次资本市场比较及合作路径探析

经过50多年的发展,台湾地区形成了由“集中交易市场一上柜市场一兴柜市场”构成的多层次资本市场,有效促进了台湾地区金融资源的配置。经过20多年的发展,大陆业已具备了多层次资本市场的雏形,但同台湾相比,大陆资本市场层次性不够清晰、不同层次资本市场间升降转板机制尚未形成、场外市场发展相对滞后。由于两岸多层次资本市场的优势存在较大差异并有明显的互补性,两岸可以通过合作达成优势互补、获得双赢。两岸多层次资本市场在主板市场、场外市场、升降转板、资本监管等领域存在很大合作空间。     

我国公用企业滥用市场支配地位的法律规制

我国的公用企业长期具有市场经营与行业管理的双重特征,既具有自然垄断的性质又具有行政主体的性质。公用企业服务质量差、收费透明度低、限制竞争等行为已严重损害了消费者的利益,也成为妨害市场公平竞争的主要原因。因此,需要对公用企业滥用优势地位进行必要的法律规制。     

中国股票市场发展与经济增长关系实证研究

文章对中国股票市场与经济增长关系的实证研究表明,股票市场的发展对我国经济增长的作用是相当有限的,更有甚者,股票市场的扭曲性存在可能会不利于经济的发展。     

公与私:中国行业协会的矛盾定位解析

随着社会主义市场经济的发展,行业协会作为一种同类企业间的联合互益组织在我国社会经济生活中起着日益重要的作用。但由于行业协会本身所蕴含的市场性以及我国对行业协会的特殊定位,其公益性与私益性的冲突成为制约我国行业协会发展的首要因素,因此探讨市场化的主流趋势与非营利化的新兴走向之间的异同,才能重新定义我国行业协会的发展路径。     

清代滇黔地区的内地商人与市场网络体系的形成

随着交通条件的改善,滇黔内部各地之间、滇黔地区与内地及周边国家的经济联系日益加强,打破了滇黔地区的封闭状态,使滇黔地区与缅甸、老挝、泰国等周边国家及湖南、湖北、四川、广东、广西等省区连为一体,内地商人纷纷进入滇黔地区从事商业贸易活动。滇黔地区形成的城乡市场网络可分为区域中心市场、中等商业城镇和农村市场三大层次,构成了一个比较完整、复杂多变的滇黔地区的市场网络体系。     

中国权证法律规制的现实状况与未来路向

权证在中国证券市场中经历了曲折的发展过程,如今的权证市场极其萎缩。鉴于权证在中国资本市场与市场化与国际化深入发展进程中的重要作用,正确审视现行权证法律规制的不足,并构建未来权证法律规制的发展路径是十分必要的。该文主要通过历史分析方法概括了中国权证及其法律规制的演进过程,并指出备兑权证将是中国未来权证市场的主流产品,相应地在立足现行权证法律规制之上,应建立健全权证法律法规体系、完善权证具体法律制度。     

韩国对华投资现状分析

中韩两国的交流越来越密切,庞大的中国市场和廉价劳动力对韩国具有很强的吸引力。截至2006年6月底,韩国对华投资累计总额达到152亿美元。如此迅猛的韩国的投资增加集中在中国的制造业。如果努力解决好韩国企业投资中国时遇到的各种妨碍因素,可以激发韩国企业更积极地对中国的投资欲望。2008年北京奥运和2010年上海世博会的召开,将会使韩国企业,特别韩国中小企业的对华投资趋势一直持续下去。     

A Study of Job Preference and Work Ethics in Guangzhou

'Guangdong is the province one step ahead in China and Guangzhou is the city one step ahead in Guangdong.' Being one of the most economically active cities in China, Guangzhou citizens have generally experienced improved living standards and a better quality of life since the economic reform started in the late 1970s. What is also true is that economic modernization has changed the social structure, allowing far more social mobility in the post-Mao society. Nowadays, people living in Guangzhou have more job choices in a relatively free labour market. This paper is set in such a socio-economic context to examine the job preferences and work ethics of Guangzhou citizens, with particular reference to what changes have taken place in people's work values after the adoption of a market economy in the mainland. The paper is based on our current research projects conducted in the Guangzhou area to examine how socio-economic changes have affected people's value orientations and is confined to discussion of whether people living in Guangzhou have changed their attitudes towards work in the 1990s.