Guangxi Zhuang Autonomous Region.
又好又快发展 Sound and Fast Development
A goal set for China's economic progress that underscores both quality and speed. Officials attending the Central Economic Work Conference in 2005 made \and sound\development one of the country's goals. It was revised to \following year's conference. In his report to the 17th National Congress of the Communist Party of China in 2007, General Secretary Hu Jintao said the economy must advance in a comprehensive, balanced and sustainable manner by putting \before \The change demonstrates the central government's determination to bring about a shift in the country's economic growth mode. 小康社会 A moderately prosperous society
A blueprint for the development of the society featuring comprehensive improvement in the economy, democracy, science and technology, social culture, and people's lives.
In the 1980s, late Chinese leader Deng Xiaoping set a target for the country to realize \mostly about growth in the economic indicators.
Jiang Zemin, the former president, officially widened the concept to cover more social aspects in his report to the 16th National Congress of the Communist Party of China in 2002. Besides quadrupling the country's GDP of 2000 by 2020, other targets included implementing the rule of law, fostering market economy, ensuring universal coverage of social security, and helping most people live a comfortable life.
President Hu Jintao in his report to the 17th CPC National Congress added new elements to the blueprint by stressing transformation of the economic development pattern, and sustainability of growth.
循环经济 Circular Economy
A model for economic growth which aims at environmental protection, pollution prevention and sustainable development.
Under this model, resources are used with higher efficiency and reused and recycled when possible, so that pollution is minimized and waste is reduced as much as possible. It also involves the transformation of industrial organization and allocation, urban infrastructure,
environmental protection, technological paradigms, and social welfare distribution.
An important part in China's effort toward sustainable development, circular economy was officially raised as a target for China's future growth in 2004. The State Council issued a file about promoting it in July 2005, making it a key guideline in the 11th Five-Year Plan and to achieve the specific goals in energy conservation and pollution reduction before 2020.
社会主义新农村 Socialist New Countryside
To address the increasingly conspicuous imbalance in the country's economic landscape, the fourth generation leadership of the Communist Party of China (CPC) has gone to great lengths to correct the urban-rural divide. \is to date the most comprehensive solution it has prescribed.
The concept first appeared in early 2005 in a major policy paper on rural development. The CPC-proposed a blueprint for the country's 11th Five-Year Plan (2006-10). It portrays the \\life, civilized folkways, a neat look, and democratic management\As part of the campaign, the central authorities are reorienting public finance to support rural development programs.
新型工业化道路 New Path of Industrialization
A strategy for industrialization emphasizing reliance on technological progress, improved efficiency in resource and energy utilization, and sustainable economic growth.
First raised by Jiang Zemin, former president, in his report to the 16th National Congress of the Communist Party of China in 2002, the blueprint aims at a balance between industrial development and environmental protection, with the focus on promoting industrial advancement through developing science and technology and giving full play to China's comparative advantage in labor resources.
Endorsed in the report of Hu Jintao to the 17th National Congress of CPC in 2007, this strategy has become a fundamental guideline for the country's economic progress.
南水北调工程 South-to-North Water Diversion Project
A major project to channel water from the Yangtze River in the southern part of the country to the north through three canals.
The project, considered by the authorities since the 1950s, was formally launched in 2002. Three 1,300-km canals will be constructed in the western, central and eastern parts of China so that water from the upper, middle and lower reaches of the Yangtze River will be brought to the north, where water supply is not adequate.
With an estimated investment of 486 billion yuan, the three canals will be capable of transferring 44.8 billion cu m of water by 2050.
分税制 Tax Sharing System
A policy arrangement between the central government and local governments on collecting and spending of different taxes.
Popular in many market economies, the system divides all tax items into State taxes, local taxes and several shared taxes. The central and local governments collect taxes and manage the public affairs with the money as agreed. Transfer payments from the central government to localities are also part of the system to narrow regional differences. China started a reform in 1994 to introduce this system and established State taxation administrations as well as local taxation administrations to implement the system.
三来一补企业 Enterprises of Three Import and Compensation Trade A shorthand for enterprises that process imported raw materials, manufacture products according to imported samples, assemble imported parts and those that repay loans for imported equipments and technologies with products. Emerging in the coastal area in the late 1980s, all these enterprises export their products abroad. By taking the processing fee, they become the major force in the processing trade, which forms a big proportion in the country's total trade volume. They played a key role in fostering the development of China's trade.
利改税 Tax for Profits
A reform measure requiring State-owned enterprises (SOEs) to pay taxes instead of submitting their profits to the administration.
The State Council introduced this reform in 1983 by levying a 55 percent income tax on medium and large SOEs rather than taking their
profits. Other measures soon followed, creating a complete tax scheme to encourage competition.
This was one of the earliest steps taken to reform SOEs and establish a national tax system, showing that a mature market might be an effective way to improve industrial efficiency.
兴边富民行动 Program to Revitalize Border Areas and Enrich Residents' Lives
A State campaign to boost social and economic development of regions along the land borderline. In 1998, the State Ethnic Affairs Commission started the program to improve the lives of the ethnic people who comprise 48 percent of the 21 million residents in 135 counties along the borderline.
Favorable policies and direct financial investment were granted to improve the infrastructure and public facilities, develop education, promote literacy, boost trade and nurture industries. By 2005, the government spent at least 15 billion yuan in the border areas through the program.
绿色信贷 Green Credit
A policy to encourage the businesses to observe the rules and regulations about environmental protection with the leverage of bank credits. Initiated by the former State Environmental Protection Administration, currently the Ministry of Environmental Protection, and China Banking Regulatory Commission in July, 2007, the policy requires the commercial banks, when reviewing the application for bank credits, to consider whether the applying businesses have followed the environmental rules. The violators have less chance to get the approval, while the green businesses would get favorable treatment in this regard. The policy marks a start for the central government to step up the country's environmental protection through market-oriented means.
廉租房 Low-rent Housing
State-owned houses are rented out at modest prices to low-income families who do not have proper housing in the cities.
In 1998, the central government required all cities to offer low-rent housing to families with the lowest income before the end of 2006 and the deadline was later changed to the end of 2007.
In each city, the standards for a family's per capita living floor space and minimum income are set by the local governments. Families whose living space and income are both below the standards are given low-rent houses. If the governments do not have enough houses, they offer financial subsidy to these families. The rent is set at about 5 percent of the family's income.
家庭联产承包责任制 Household Contract Responsibility System
The system allows farming households to manage agricultural production on their own initiatives while the farmland remains in the ownership of the rural collective. Started in Xiaogang village in Anhui province in the late 1970s, the system enables farmers to use land through long-term contracts and keep the produce after paying taxes. It raised productivity and increased agricultural output, both of which were preconditions for nurturing the economic takeoff, and comprehensive industrialization and urbanization. The start of this system is widely accepted as a milestone in the economic opening up.
假日经济 Holiday Economy
A popular term to describe the huge public spending during holidays which contributes significantly to economic growth and structural upgrade.
In 1999, the State Council decided to extend the public holidays for May Day, National Day and Spring Festival to one week. The holidays became good opportunities for people to travel, shop and generally enjoy themselves.
Since then, the massive consumption has boosted tourism, retail, transportation, cinemas, exhibitions, sports and other related industries, thereby benefiting the people and the country.
财产性收入 Property Income
Earnings from bank deposits, securities, houses and other personal or family properties.
In his report to the 17th National Congress of the Communist Party of China in 2007, General Secretary Hu Jintao stressed, for the first time, that conditions should be created to enable citizens to earn income from their property. Hu's remarks sent the message that China would
advance the development of its capital market, enabling investors to share the economic boom.
Figures from the National Bureau of Statistics showed that per capita property income in China averaged 240 yuan in 2006, or about 2 percent of people's total income, while 70 percent of people's average income came from salaries and 28 percent from pensions, subsidies and other benefits.
“三步走”战略 Three-Step Development Strategy
A plan for boosting the economy by hitting three major targets over three different time spans.
Originally floated by the central government in 1987, the first step was to double the GDP of 1980 by 1990 and to ensure that most of the population had enough food and clothing. The second step was to double the annual GDP of 1990 by 2000 and ensure that most people were living prosperous lives. The third step is to quadruple the GDP of 2000 by 2020, ensure that most people are living well-off lives and have a fully operational market economy in China.
The first two steps have been taken. At the 17th National Congress of the Communist Party of China in December 2007, the third step was revised to quadrupling the per capita GDP of 2000 by 2020.
金税工程 Golden Tax Project
The establishment of a uniform computer network across the country through which taxation authorities at all levels can better serve taxpayers.
Started in 1994, the project aims to improve the transparency and efficiency of tax collection and supervision. By turning invoices, one of the most important taxation documents, into electronic data, it facilitates both taxpayers and taxation authorities.
The project's first two stages were completed in 2000 and 2003 respectively. The third stage, begun last year, will cover almost all matters of taxation.