2017年CRI China obtains tangible achievements in reform

 

China's top economic planner is suggesting significant steps have been made in supply-side structural¹ reforms, as well as the curtailing² of hot-money outflows.

CRI's Guan Chao with more on the National Development and Reform Commission's year-end sessions.

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Ning Jizhe, Vice³ Chair of the NDRC, says authorities have made concrete steps in cutting industrial overcapacity, as part of the effort of deepening supply-side structural reform.

As part of his report to the NDRC session, Ning Jizhe also says debt reduction, over-capasity and cost cutting also making major strides forward.

On the issue of debt, Ning Jizhe notes the debt-to-asset ratio of major industrial companies - companies with annual revenues of more than 20 million yuan - has come in at 55.7-percent by the end of October, down 0.5-percent year-on-year.

"We are able to announce that the floor space of residential⁴ buildings for sale in China stood at 596 million square meters at the end of November, down 13.7 percent year on year. This is a decrease of over 100 million square meters compared with the figure at the end of last year. In lowering costs, we have already cut taxes and fees by one trillion yuan this past year, and have also cut another one trillion yuan this year. In improving areas of weakness, we have been able to put more resources into agriculture, water conservancy, environmental protection and social services."

NDRC officials also note that foreign investment through November is up by 9.8 percent year on year.

This is up from the figures over the same periods during the past two years. 

Ning Jizhe also says authorities have been able to put the breaks on capital outflows through a series of restrictions⁵ brought in earlier this year.

"We have achieved significant short-term results in inspecting the authenticity⁶ and validity of outbound investment. Irrational⁷ outbound investment has been effectively curbed⁸ as a result. That said, outbound investment by non-financial companies was still able to register positive growth in November year on year. Overall, we're still expecting outbound investment figures for the full year will be lower. But this is mostly because the base comparisons compared to last year's figures were quite high."

Detailing expectations for the coming year, Ning Jizhe says the NDRC intends to continue to help Chinese companies in their international expansion.

He says this will include promoting production capacity cooperation with foreign countries, particularly those involved in the Belt and Road Initiative.

For CRI, I'm Guan Chao.

1 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

2 curtailing   

v.截断，缩短( curtail的现在分词 )

参考例句：

• They will be curtailing the discussions at two thirty. 他们将把讨论缩短至两点半。 来自互联网
• Individually, banks are acting rationally by retaining their capital and curtailing lending. 此外，银行们正在合理地保留其资本和减少贷款。 来自互联网

3 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

4 residential   

adj.提供住宿的；居住的；住宅的

参考例句：

• The mayor inspected the residential section of the city.市长视察了该市的住宅区。
• The residential blocks were integrated with the rest of the college.住宿区与学院其他部分结合在了一起。

5 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

6 authenticity   

n.真实性

参考例句：

• There has been some debate over the authenticity of his will. 对于他的遗嘱的真实性一直有争论。
• The museum is seeking an expert opinion on the authenticity of the painting. 博物馆在请专家鉴定那幅画的真伪。

7 irrational   

adj.无理性的，失去理性的

参考例句：

• After taking the drug she became completely irrational.她在吸毒后变得完全失去了理性。
• There are also signs of irrational exuberance among some investors.在某些投资者中是存在非理性繁荣的征象的。

8 curbed   

v.限制，克制，抑制( curb的过去式和过去分词 )

参考例句：

• Advertising aimed at children should be curbed. 针对儿童的广告应受到限制。 来自辞典例句
• Inflation needs to be curbed in Russia. 俄罗斯需要抑制通货膨胀。 来自辞典例句