China’s Economic, Political and Social System
China is a country in East Asia, which limits the East China Sea, Korean Gulf, and South Sea of China. The neighboring countries include 14 sovereign states. The earth is the mountains and different parts of China, and also in the west and the pond in the east. The main rivers flip from west to west, including the Yangtze and the Yellow River. The state system is a communist state; The head is the head of the president, and the head of the government is the leader. In China, there has been market system changed from a centralized system in the 1970s. China is a member of the Asian Pacific Ocean Cooperation (APEC) and the Asia-Pacific Trade Agreement (APTA).
It is a country with the largest population with a long history and ancient civilization. I 4000 BC. E. Settlements were in the Yellow River area. History goes back to the Chinese dynasties; Xiao Says that Sun Yat-sen was President of the Republic of China, referring to the authorities, which began in the 21st century until 1911. In 1921 the Chinese Communist Party was established. After that, he went to the national group, Sun Yat-sen, but after the sun died, he was national. Then the Communist Party began to build weapons called the Red Dearg.
Shortly before the official formation of the Red Army (1936-1945 biennium). The Chinese people of the People’s Republic was established in 1949 as a result of the long and arduous struggle of the Red Army and the leadership of President Mao Zedong. After 1949, the Chinese People’s Republic (locally called “New China”) collided with the Korean wall with the Americans and the rapid growth period for ten years, followed by three years of difficult times due to natural disasters and the end of their help. From the Soviet Union, who lives there. From 1966-1976 years in China, there was a “cultural revolution” – the country’s movement against feudalism (including at the same time) and capitalism. As a result, the Chinese economy stopped. After 1978, when Mr. Deng Xiaoping was first established, China launched a reform program and opened rapidly and succeeded for 20 years.
China’s Economic, Political and Social System
China has some domestic economic problems that are directly related to rapid growth and market system reforms. The major issues are: (1) eliminating China’s workforce from low-income home-based, (2) accelerating the construction of urban infrastructures, and (3) opposition against the tax base in China and other state financial resources. China is trying to move to the country’s status with an average level of income in a couple of years, starting with a very low per capita GDP. Economic, social, and political grounds are changing and expanding.
For this reason, the basis of China’s economic and financial policies is the need to continue to support economic growth and job creation, which modernizes its financial system. In this environment, it is worth distinguishing the two-part structure of the Chinese financial system as a competitive, market-based, and public-oriented government component. The Chinese market financial system was not practically available in 1978, at the beginning of the reform period after Mao. While most of the traditional institutional forms of modern economic systems are not immature today in the operation of the institutions, and the role of other non-traditional financial institutions, in particular, the Chinese planning committee, in particular activities. The system’s dynamics of the system in 1978 were relatively fast, and the changes continued dramatically. This week in Beijing, China’s Chief Executive Officer was in charge of the first meeting of five-year meeting to determine the strategies for the next phase of Chinese financial reform. When China launched “Restoration and opening into the outside world, at the end of 1978,” the economy of China was not controlled by monetary factors. Instead, all goods and services were allocated to the plans, values, directions, and coupons of the ration, including all work resources, investments, relevant resources, and the distribution of final products. However, money is still necessary. State budgets were prepared and reviewed, and vulnerabilities were eliminated. The link between physical and administrative flows is administered to balance actual and monetary balances.
The largest banking system of China’s largest banking sector is quite ineffective. About the rapid reform of China’s financial system, there has been a severe decline in the ordinary level of the number of loans after that among large banks. A crucial task is to the success of any reform. Despite the rapid growth of market stocks in China, the role of resource allocation is ineffective and limited in the economy. The development of China’s finances is the most important development in the long term. Regarding sustainable and stable economic growth, China should try to stop or prevent any devastating financial crisis, bank banking, the “double crisis” in the foreign exchange market and the banking sector, the stock exchange, or random situation with real estate. Economic reform, which lasts over the past 30 years, has continued to increase the role of independent financial activity. Initially, in the 1980s, social community committees are divided into rural areas on family farms. Individual managers mainly engaged with state-owned enterprises to ensure profitability. The bankruptcy had a legal opportunity. The Chinese Monobank came into the central bank and public four banks. Other banking institutions and activities, including trust and investment companies, local investment banks, finance companies, rural and urban credit institutions, savings clubs, and private banks were even experimental. Including credit instruments on a wide range of informal commitments for bank loans, treasury bills, corporate treasury bills, and local authority payments, and their various projects fell. Ten years ended with financial turmoil in Tiananmen in 1989 and led to social rehabilitation.
The second phase of the economic and financial reform of the 1990s has speeded the pace of change. Food price coupons price reforms, but inflation rates were high in 1992-1995. The stock exchange was launched with local brokerage houses and investment banks in ten years, despite the fact that they had been manipulated by a big government. Corporate governance initiatives have developed more modern forms, including joint stocks and board members. Some government bonds started trading in the secondary markets. Internal control of large commercial banks has greatly increased as part of efforts to regulate inflation. In the mid-1990s, China created three political banks for politics, banking, foreign trade, and domestic infrastructures. This has continued to be a major way of mitigating the lending burden on the government’s policy on commercial banks. Indeed, recognizing the fact that at the end of the 1990s and in 1980, bank loans have not begun government policy, instead of profitability, it is a few steps taken to recapitalize the four largest commercial banks by transferring them to the store, called bad debts. Company (AMC). Such transfers were also part of an aggressive corporate governance reform, which led to the closure, mass merger, and acquisition of 50 million workers in the period 1996-2005. Beyond the Asian financial crisis in 1997, due to short-term international capital flows, China is facing a much lower GDP growth and a decline in the consumption of rural households in the late 1990s, especially due to internal policy errors. Despite these common difficulties, in the late 1990s, Chinese economic and financial institutions were free from the dramatic changes that took ten years.
The big thing is the Chinese financial system in the early 1990s, and the growth of the Chinese stock market. In 1990, the Shenzhen Stock Exchange (SZSE) and the Shanghai Stock Exchange (SHSE) were set up; then both sides of the institutions they have grown. However, the legal framework and institutions that support the stock market slow growth in the stock markets winning. The first lawsuit and the legitimate Chinese adoption of bankruptcy in 1986 (power), but until the end of 1999, an officer in the company. This is the version of the press law requires, in that they went and negotiated with them, in the companies he committed is devoid of any exchange in the sub-navigation. Either the offices and branches of foreign companies, as well as the organizational structure, the production, and sale of securities, the accounting, the bankruptcy, and the acquisition merger (4 China is the oldest of the carrots of the Pacific companies of an insurance company in China operating in 1943. In 1943, the title and resuscitation insurance business in 1986. From the financial system, the development of the early and late fourteenth century Chinese, and the particular officers of Shanghai, as in the Asian financial center.
At a time when the center of Shanghai will be transformed from a shopping mall to industrial, agricultural, and industrial areas of the international financial markets and convenience issues. Thanks to successful business and entrepreneurial activities, financial institutions have grown, and many financial innovations have increased. For example, the number of Chinese creditors (Qian Zhuang) exceeded 105 in 1875; The first five-day Chinese banks were between 1897 and 1908; In 1936, 28 years old, opened on the banks of the great river of Shanghai.
In China, revenues are used for 11 currency transactions. The stress emitted by some local banks, it has been observed in others in the exchange rate of the volatile local currency; Many local banks, amid the concerns of top operations, mean capital reserve loan portfolios are often accepted. At the same time, the fear and risk of the business insurance industry are shifting, introduced by the British. Real estate insurance, ships and have become favorite goods. The main one is the guarantee to avoid dangers and fears; To reduce the problems, foreign traders have worked and study Chinese selectors (and sponsors) unfavorable to choose Chinese traders. China and foreign traders, the Commission has developed a business system, the first credit negotiation, financial resources, allowing this means that the necessary institutions. Finally, the stock of Shanghai was the largest in Asia and especially in the 1920s and 1930s.
China’s Accounting Environment
Recent studies have shown, it is, that among the many things, which is integral to China have been delivered into the dominant culture, and the way of life advantages. It is the highlight of their culture. Hofstede Gray filler developer to acquire other objects of cultural impact strength improvement of the public system to other functions to another aspect of Chinese parameters. This is the reason rules “culture.” This letter effect relationship is known as “environmental factors.” This article attempts to form the Chinese culture to the Chinese and variable ways techniques and procedures. In China, the system components traditionally rely on Confucius and use the old ideas, but they still affect today.
This paper focuses on the impact of the use of dishes that variable historical culture in China, in part, because of such a system and the system of information. Data from the literature suggest that despite the change in the change of regime styles in China and economic and cultural characteristics the power thrives in the accounting department. For example, the polarity of Yin and Yang is still used for Chinese balanced; However, the state-owned private actions Join the end number. China has made its own market economic model constitution but remains in place, the entire region of mystique about China.
Until 1994, no legal framework for that reason, the constitution signed holdings in law as China’s national companies first entered into force on 1 July 1994. In the absence of such a structure also led to the creation of other mechanisms such as national security. Laws and rules are a series of ugly and time-consuming. Also, on July 1, we introduced a set of standards for all of China’s business systems 1993 Ministry of Finance – Accounting Standards for enterprises. Although the norms of the laws of reason are in error and sometimes they are used to the nature of the signs of the institutions of the PRC foreign investment while preparing the financial statements the nature of the arts that he wholly followed is relatively uniform. Preferably, the Editor and the lack of a full conceptual framework of rules and regulations, the concept of the system was detected, causing the system, process control, and inspection and registration of some aspects of the comprehensive enough to cover zero. One of the biggest challenges for foreign investors in China is to fully understand all resemblance institutions called money. Multinational corporate groups usually spend a reconciliation between Chinese GAAP and International Financial Reporting Standards (IFRS) or US GAAP groups by consolidation in the financial statements. In this article, we explain the tax system between China and Chinese GAAP when we go through the exercises with the help of a developer in China.
And reporting system performing functions with general accounting practices adopted by a person, many of the Chinese systems to identify order to control the value-added tax (VAT) and fapiao system in China. LAKE special “fapiao” – the physical receipt tax that may be a credit in unpaid VAT liabilities. However, in the very world reason you need to make adjustments to account for the annual observance a year, must understand that all companies in China, according to Chinese prepare GAAP financial statements at the end of each year.
So, how can lead to an absurdity, then that he should be an adjustment, to require? In practice it is more easily to the standard of the Chinese GAAP, showing him all the risks and benefits associated with the product, even if (inventory) to be used metaphorically, he shall restore to the buyer the part of the practical, by participating in the opportune times, recognize the sales income and sales. Here, the accountants have no fear of and the solution to the method of the in the diameter required, that is, without a lot or for deciding on the rewards of the goods are transferred. Or the fact that it focuses on the most part on the results of The Bishops, in a special VAT fapiao to decide whether or not to write the book to the accountants, to give a little to the criteria in order to return to the appointment of the theoretical reason, or is not that which was right, and Chinese GAAP recognition.
According to the Acts of the cause of he, to dissemble, and abs societies by the financial statements, the financial statements include a balance sheet is not to be hands down, the revenues of the statement of cash flow is said to be the marks of, and to the reasons for the sake of gain, and the loss of retention. That includes laws and grade goods and liabilities on the balance sheet.
What is the nature of the concepts used in the rules in China?
The reason, however, of the balance of the principles of the precepts of the Lord in Sinai, and the ratios of accuracy, integrity, consistency, comparability, with a lion, and is prior to and the cause of, matching, prudence, and abideth forever the care of the form of matter. Considered the fact that a great part of the principles of IFRS. Other key features of these rules are:
This provides an in at historical cost. According to the developer’s recorded price (diminution of a size necessary), estimates are strictly prohibited unless authorized by the provisions of the state.
The concept of fair market value is the most widely used and is not limited by market value.
These regulations also require companies to the calendar year from January 1 to December 31 as the fiscal year.
Two aspects of the treatment. Accounts that it is like the Renminbi (RMB) (PRC legal currency). Foreign currency transactions and balances are in a state to turn on the yuan at a rate that may differ from current market rates. All foreign currency exchange rates should be kept just the public entertainment places and used as a reference. In particular, the situation of these rules and the collective welfare fund requires tax to fund tax, and the tax paid by the tax. On account of the recess of the new, so some things are not to be explained, in all the than in the other countries, he appears pleasant or brings. But some Chinese are the lands to the most stringent standards. An entity shall disclose the identity of the subject transactions and accurately between the parties and related equipment like cash flow statements both direct and indirect. Developer signs early enough to allow full experience speech or a special case. For the first time, sales urban management and professional expertise provide. When at the gap between China and the world was made by the narrowness of the system in the Western uses the teaching of the doctrine of the matters being arranged, and ashes, complexity, and implementation of a company may vary from state to state to the company.
Air China Limited (“Air China”) and its predecessor, China’s old air, were established in 1988. According to the “Program of the civil aviation reform program,” approved and endorsed by the Ministry of Foreign Affairs in October 2002, China’s former airlines have been launched as China National Aviation Company and Southwest Airlines China and established as China Aviation Group Company. The new Air China company was based on combined air resources of all three sides. Air China Limited, approved by the Commission for Supervision and officially launched in Beijing, mainly controlled China Airlines Asset Management Group of the State Council (SASAC) on September 30, 2004, and is being operated on its part most air. On December 15, 2004, Air China successfully participated in Hong Kong (SEHK: 0753) and London (LSE: AIRC).
Logo on China Air, the Phoenix art form, the Chinese name of the aircraft, written by Mr. Deng Xiaoping’s former leader, and “AIR CHINA,” written in English. The Phoenix logo is also an art change in the word “VIP.” This is a traditional red color of China, which means color, friendship, finishing, peace, and happiness, and Air China continues a true passion and eternal security to serve the public. Air Ministry sees its vision and orientation as a “well-established global airline.” This approach is to achieve four strategic goals: to ensure the competitiveness of the global market, to continually improve the excellent and outstanding tourism opportunities for potential travelers, and constantly increase profits. The corporate spirit emphasizes that “it serves on a hot form on the world and enhances the future with innovations.” The corporate mission is “that meets the needs of customers and create mutual value.” Entrepreneurial value is to “offer a high level of service and get universal public approval.” The philosophy of the service is “Sustainability, comfort, comfort, and choice.”
Air China VS American Airlines
It represents the Chinese market as a challenge between the United States and the two countries’ airlines. However, it may be more advantageous to consider competition from a centralized outdoor competition. The data is difficult to analyze when booking passengers. The Chinese market’s nature and its dependence on Travel Sky are dominant, not disclosed to the public, that the estimates of passenger flow in the US and China markets could have great differences. In an interview with the Wall Street Journal in March 2014, Delta considered US and Chinese carriers only 60% of the US-Chinese market, leaving 40% in third countries. According to Delta, typically third-country nodes in the US market account for 15% of the traffic. A few months before December 2013, IATA data arose that the share of the US and Chinese traffic in the third country increased by 18%, and half of the Delta analysis. (IATA figures represent 47% of American carriers and 35% of Chinese carriers).
There are examples of expanding cooperation. Delta is operating near the East, and more synchronization is required when Delta moves to China’s Eastern Territory in Shanghai Pudong and allows it to reduce contact time. American Airlines and Hainan United and Air China codes are friendly, but at the same time eliminate them. These movements must cope with third countries. Most of them offer Hong Kong, Japan, and Korea transfers from the United States and China. Air China has probably lost its market share in the short-term market. An explosion of the Sino-Korean flea market, allowed Korean carriers to provide a higher yield for Chinese-Korean passengers from China-US destinations. At the same time, since China’s ability to turn into freedom to deliberately return, American carriers did not increase the ability of China, which impeded growth.
This is the North Asian market, which is not a major center for China’s mainland transplantation in America. For example, it focuses on the strong growth of EVA in North America for connections in Southeast Asia. Also, legal restrictions prohibited carriers from Taiwan from the Chinese movement to be transported outside the United States. Further expansion of the life market and the rest of the restrictions, one day will change China’s position as a center.
For the development of financial markets and the development of the bank decided to come across TGA largest banking system undeveloped. Of these loans). Permanent state private banks, most people are not released until the state institution of the film. In the state of the property (usually) debtor banks and borrowers (mainly state-owned companies) will choose heretic malice to choose a good way of incentives, with investment projects to choose from. Due to the number of new items that can be found in the state-owned banking network, the service is temporarily TGA per year in public banks.
The development of new products and new markets is also essential. TGA official data using those obtained from an available ICT is provided at the economic growth rate (and thus the state income tax) is not possible. Similarly, the place means to do more than it should be to encourage institutional financial investors and listed companies, who play a crucial role in improving the efficiency of the market and also to strengthen the governance of the business.
Another important reason is the problem for the Chinese would not be able to harm the financial and social stability of the financial crisis and the economy. China is expected to be protected by the traditional financial crisis, including the build-up of the ongoing home and sector support sector crisis, due to a sudden drop in edge profits; nor the differences bubble on the real estate market stems from the deal to do with speculation. China can be protected from a new kind of financial crisis, the “double crisis” (simultaneous currency and bank/stock crisis), which is widely used in many Asian countries in the late 1990s. At the World Trade Organization of China (1992) offers free and technical foreign capital, but a blow and a large influx of foreign capital and speculation have significantly increased the likelihood of double discrimination. At present, the rapid growth of foreign exchange reserves shows that the RMB is larger than the money in advance of the monetary revaluation of the Chinese currency compared to other major currencies in China. The central bank manages and controls how the revaluation process can be a monetary and conventional crisis.
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