2015年CRI China to Do More About People's Livelihoods: Report

 

On the heels of a report issued to the National People's Congress this past week, the Chinese Academy of Social Sciences is out with its own analysis of China's local debt situation.

In it, CASS economist¹ Li Yang argues there is no concern about a local debt crisis.

"Ever since the global economic crisis began in 2008, China's debt ratio has been climbing at a high speed. The three indicators², including sovereign assets, sovereign debt and net-public debt, are all on a rising curve. But if you look at Chinese local debt in a more objective way, you have to come to the conclusion that China doesn't have debt crisis. Numerous years of debt accumulation is why we're at the debt ratio we're at."

Last week's report to the NPC Standing³ Committee says local government debt in China sits at 86-percent of GDP, which the government says remains⁴ below its alert line of 100-percent.

To ensure that debt doesn't continue to skyrocket, the central government has taken a number of steps to ease the burden on local governments, including allowing them to convert part of their debt into low-yield bonds.

With that in mind, the Chinese Academy of Social Sciences is also advocating more spending this coming year to deal with social issues.

CASS researcher Zhang Xiaojing says money is going to have to be spent to fulfill⁵ a promise made by President Xi Jinping in the new 5-year economic plan.

"The most important task during the next five-year plan is pulling 70-million people out of poverty. The second is narrowing the income gap between the rich and the poor. Though a lot of work has been done to figure it out, the results aren't quite there yet. On top of this, we also have to deal with the rising concern about youth unemployment. Of course, environmental protection is also one of the tough calls."

The new report by the Chinese Academy of Social Sciences also proposes some solutions to the environmental problems the Beijing-Tianjin-Hebei area is coping with at present.

Director of the Institute of Industrial Economics, Huang Qunhui, says one of the ways to deal with pollution is through a better integration⁶ of the region's industries to make them more efficient.

"The industrial differences among Beijing, Tianjin and Hebei are large. The dominant⁷ industry in Tianjin and Hebei is ferrous metal smelting⁸, rolling and processing. In Hebei, steel production makes up one-third of its industrial base. This industry is notorious for creating air pollution. Beijing's dominating industrial sector⁹ is auto¹⁰ making, followed by computer manufacturing."

Researchers suggest that by better integrating industries in the region through a more advanced transportation network, emissions¹¹ will be brought down, as will the costs associated with complying with environmental standards.

For CRI, this is Li Jianhua.

1 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

2 indicators   

（仪器上显示温度、压力、耗油量等的）指针( indicator的名词复数 )； 指示物； （车辆上的）转弯指示灯； 指示信号

参考例句：

• The economic indicators are better than expected. 经济指标比预期的好。
• It is still difficult to develop indicators for many concepts used in social science. 为社会科学领域的许多概念确立一个指标仍然很难。

3 standing   

n.持续，地位；adj.永久的，不动的，直立的，不流动的

参考例句：

• After the earthquake only a few houses were left standing.地震过后只有几幢房屋还立着。
• They're standing out against any change in the law.他们坚决反对对法律做任何修改。

4 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

5 fulfill   

vt.履行，实现，完成；满足，使满意

参考例句：

• If you make a promise you should fulfill it.如果你许诺了，你就要履行你的诺言。
• This company should be able to fulfill our requirements.这家公司应该能够满足我们的要求。

6 integration   

n.一体化，联合，结合

参考例句：

• We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
• This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。

7 dominant   

adj.支配的，统治的；占优势的；显性的；n.主因，要素，主要的人(或物)；显性基因

参考例句：

• The British were formerly dominant in India.英国人从前统治印度。
• She was a dominant figure in the French film industry.她在法国电影界是个举足轻重的人物。

8 smelting   

n.熔炼v.熔炼，提炼（矿石）( smelt的现在分词 )

参考例句：

• a method of smelting iron 一种炼铁方法
• Fire provided a means of smelting ores. 火提供了熔炼矿石的手段。 来自辞典例句

9 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

10 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

11 emissions   

排放物( emission的名词复数 )； 散发物（尤指气体）

参考例句：

• Most scientists accept that climate change is linked to carbon emissions. 大多数科学家都相信气候变化与排放的含碳气体有关。
• Dangerous emissions radiate from plutonium. 危险的辐射物从钚放散出来。