129773439006562500_1192Author: Wu Jianhua "competition of local Government has been seen as the force behind China's economic miracle, but every silver lining, this unique mechanism very well may be the source of current China's biggest economic and social risks. "International Centre for hedge fund managers, rising wealth investment management investment Director Liu Haiying at the who to constrain local government? --Chongqing economic critique of the model of aIn the text is the beginning. "Chongqing mode is to land under the soft budget constraint, the characteristics of financial lever into the Government-led economy. "He told the investors said in an interview with newspaper reporters," local authorities to worry about now is not their role to play in economic development is not big enough, but the role of too much. "In fact, controversy has a long history of Chongqing economic model, capitalUniversity of Economics and trade city, Associate Professor, Faculty of Economics and public administration, the Institute of Economics special researcher Liu Yejin told reporters of the investors
tera gold, day is organized by the Institute for economy in 2011 a "Chongqing mode" and "Guangdong model" workshop, he tried to justify the "Chongqing's economic development models not sustainable". Under Government-led economic growthChang Liu Haiying thinks, but I had to do to the economic development of Chongqing to define a model, that's under the soft budget constraint of land, characteristics of financial lever into the Government-led economy. This pattern results in a short time is good in the long run is not necessarily wonderful because "borrowing money is to pay back the money." In fact, in a dozen years since the 1997 municipal historyChongqing's economic development never rise in recent years, notably. All this cannot be separated from the outside world as "CEO of Chongqing" Mayor Huang qifan, positive operation. Chongqing Municipal Government, dominated by a series of big economic construction the deepest impression to the outside world. In 2002, eight in Chongqing urban construction financing platform for the creation, investment company, Chongqing City public highSecretary, high build a investment company, investment company, real estate group, opened a casting company
tera power leveling, water water-holding and investment company ("eight major cast"), are owned by the Government of Chongqing, authorization management. In the "Eleven-Five" period, "eight major cast" serves as the city's Freeway, highway, city construction, water conservancy facilities, rail transport, tourism and investment in areas such as the principal. Official data of ChongqingShows, since the beginning of 2003 and 2004 promoting the reform of State-owned assets, Chongqing's State-owned asset from the $ 170 billion to $ 1.46 trillion size of its asset distribution patterns change dramatically. In original Chongqing zizhong, 80% is a business enterprise, has now become 40% is the investment in infrastructure, public facilities, group, 30% is the financial enterprises, 30% Commercial and industrial enterprises, which makes the control of State-owned enterprises in Chongqing on the national economy, the influence and driving force of greatly enhanced. These are generous and are impressive achievements, the "Eleven-Five" period, the city of Chongqing GDP doubled in 5 years. In 2011, the Chongqing but also by virtue of local debt platform as the core of urban economic mode of operation in various provinces and municipalities gDP race to 16.7% growth in the top. However, in the face of these successes, Liu Haiying's view has always been careful. In his view, historical experience shows that Government-led economic projects with economic rationality are not too long, the Government borrowed money may not, can be a problem at that time. Liu Haiying has pointed out that in the article above, only in 2011, ChongqingThat is, fixed assets investment of $ 760 billion, up to 76% per cent of Chongqing GDP that year. It is no exaggeration to say, hyper-fast-growing investment constitutes a main driver of rapid expansion of Chongqing's economy. "The Government should not be the role of economic direct participants, traders, in particular, should not depend on suppressing the economic vitality of the private sector to engage in purely based on the investment on the economy. ”Says Liu Haiying told reporters. Liu Ye into further pointed out that the "model of Chongqing" embodiment is a development of economic society of engineers "engineering thought" not strictly speaking
tera power leveling, can be called a small planned economy. On top of economic and Social Affairs, to engineering and technical thinking to deal with losing no doubt, this is the 20th century planned lessons of evaporation caused tens of millions of people to。 123 «»
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