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25 December 2016, Volume 0 Issue 6 Previous Issue    Next Issue

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On Supervision of Local Government Debt under the New Normal Background in China——Taking Hunan Province as an Example Zhu Wenwei, Quan Chunxia 2016, (6):  5-12.  doi: 10.16716/j.cnki.65-1030/f.2016.06.001 Abstract ( )   PDF (1212KB) ( )   Save Under the background of the domestic gradually downward economy and the expanding size of local government debt,steady growth and anti-risk has become two important policy objectives in China. Taking Hunan as an example, based on the analysis of local government debt scale and structure change of Hunan province and the economic development, this paper discusses the current government debt risk in Hunan province and the present situation of the supervision system, and holds that there are still problems such as lack of specific side degree index, unrefined use and repayment of debt, simple early warning indicators in debt scale control regulation. Under the new normal background, it is of necessity to take measures such as establishing a national debt risk early warning system, clearing debt management responsibility, improving the budget management system and responsibility investigation systemto strengthen local financing platform in order to prevent and dissolve the local government debt risk, promote economic stability and growth. References | Related Articles | Metrics

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An Analysis of Influence of Deposit Rate Liberalization on Rural Credit Cooperatives Gao Li, Wang Yanbin 2016, (6):  13-18.  doi: 10.16716/j.cnki.65-1030/f.2016.06.002 Abstract ( )   PDF (1005KB) ( )   Save As the main force of rural financial market, the rural credit cooperatives bear the functions of serving the county economy, supporting agricultural development and helping small and micro enterprises. The liberalization of deposit rates marked the basic completion of China's liberalization of interest rate, which will bring greater impact on the management of rural credit cooperatives. Combing the characteristics of the management of rural credit cooperatives, this paper analyzes the positive impact on the rural credit cooperatives of elimination control of the deposit interest rate such as promoting the adjustment of business method and transformation to rural commercial bank, also the negative impacts such as narrowing the interest margin, increasing the interest rate risk and so on. Finally, the paper puts forward some countermeasures such as strengthening the traditional business, accelerating the construction of process banks and seeking policy support and so on to deal with the deposit rate liberalization. References | Related Articles | Metrics

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Estimation about Potential Capacity of Finance Development of the Countries along “Silk Road Economic Belt”on the Basis of Constructing a Synthesized Index Zhao Long 2016, (6):  19-28.  doi: 10.16716/j.cnki.65-1030/f.2016.06.003 Abstract ( )   PDF (1355KB) ( )   Save The“Silk Road Economic Belt” covers wide areas.The countries along these areas are obviously different in many aspects such as economy, financial development, and so on. In order to offer data on finance cooperation, trading cooperation and infrastructure interconnection to countries along the “Silk Road Economic Belt” and China as well,this paper usesdata from 46 countries along the “Silk Road Economic Belt” except China and.Analyses the basic situation of financial development of these countries, and then estimates synthetically the potential capacity of financial development of these countries by the technology of principal component. Analysis that the Eastern European countries financial development index is higher, followed by West Asia, Central Asia and South Asia countries financial development index is low. Finally, through the analysis of the differences and causes of the financial development index, it gives the cooperation strategy and policy recommendations. References | Related Articles | Metrics

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Government Audit Functions and Audit Efficiency: Theoretical Framework and Empirical Data Zheng Shiqiao, Meng Qianwen 2016, (6):  29-38.  doi: 10.16716/j.cnki.65-1030/f.2016.06.004 Abstract ( )   PDF (1441KB) ( )   Save Audit efficiency is the ratio of audit input and output, which isclosely related to the audit process. Audit process reflects the audit functions. Therefore, there is a correlation between government audit functions and efficiency. According to the data of local audit agencies, it is found that audit recommendations and audit sanctions and penalties both had positive impacts on the efficiency, while audit reveals had no significant effect on the efficiency. Therefore, what we should do are strengthening accountability, playing a deterrent effect of audit, enhancing audit rectification to accelerate the process of governance modernization. References | Related Articles | Metrics

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On Perfecting Village-level Financial Management in Xinjiang Jiang Ximing, Teng Meiyu 2016, (6):  39-43.  doi: 10.16716/j.cnki.65-1030/f.2016.06.005 Abstract ( )   PDF (846KB) ( )   Save Institutionalization and standardization of village-level financial management is advantageous to the enhancement and development of the rural economy level and is of great significance to the control of the grassroots “micro-corruption” spread, safeguarding of the vital interests of the masses, and promotion of rural progress. This paper analyzes the current situation of Xinjiang village-level financial management, and holds that problems still exist at present, that is, the government procurement is not rigorous, the payment behavior is not standard, the payment of capital regulation does not reach the designated position, the phenomenon that come-and-go money stays in the account is serious, the accounting foundation is not regular, etc. Then their causes are analyzed in-depth. On this basis, the paper puts forward countermeasures and suggestions to improve the village-level financial management in Xinjiang,in order to constantly raise the level of Xinjiang village-level financial management. References | Related Articles | Metrics

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A Study of the Extent of Credit Rationing of Rural Households and Its Influence on Rural Households Financial Assets in Xinjiang Chen Zhiguo, Li Chengyou, Li Hong, Song Yulan 2016, (6):  44-52.  doi: 10.16716/j.cnki.65-1030/f.2016.06.006 Abstract ( )   PDF (1239KB) ( )   Save Based on the survey data of rural households in Xinjiang, and by using the partially observable Bivariate Probit model and the linear regression model with dummy variable, this paper estimates the extent of credit rationing of rural households and its impact on rural households financial assets. The research results show that 67.4% of the rural households have credit rationing, 43.1% of which receive full credit rationing, 24.3% of which receive some of credit rationing; The complete credit rationing have a significant impact on household financial assets, which suggests that the complete credit rationing make rural households cash increase 1758 Yuan, make the ratio of rural households cash and savings rise 5.45%. Finally, according to the empirical research conclusions, the paper puts forward some policy implications including reducing farmers' credit rationing, optimizing the rural financial system and so on. References | Related Articles | Metrics

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On Airport Economic Development Strategy of Urumqi International Aviation Hub under the Background of the “Silk Road Economic Belt” Wu Wenjie, Yang Zhaoping, Li Dong, Li Song, Han Fang 2016, (6):  53-60.  doi: 10.16716/j.cnki.65-1030/f.2016.06.007 Abstract ( )   PDF (1254KB) ( )   Save Based on the“Silk Road Economic Belt” initiative, the paper makes an analysis and research on the construction feasibility, development model, industry selection and spatial layout of the airport economic zone for Urumqi international aviation hub, then it puts forward four development strategy modes including aviation industry driving, logistics port, industry park and tourism port as well as ten kinds of important development industries. Besides, it sums up several relevant measures and suggestions referring to industry access principles, preferential policies, public services and industrial relocation, so as to provide practical reference for interregional development cooperation along the “Silk Road Economic belt” and other main airports of China in the development of airport economy. References | Related Articles | Metrics

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A Comparative Study of Financial Fragility between China and Kazakhstan Based on Catastrophe Theory Peng Shengzhi 2016, (6):  61-71.  doi: 10.16716/j.cnki.65-1030/f.2016.06.008 Abstract ( )   PDF (1543KB) ( )   Save Kazakhstan, Closely adjacent to Xinjiang, China, is the neighbor China attaches great importance to and important partner. It is also one of the countries that respond positively to the “One Belt and One Road” initiative. In the course of the construction of “One Belt and One Road”, whether the cooperative countries along have a good financial system is a problem that cannot be ignored. According to the fragility, the complexity and nonlinearityof the financial system, based on the comprehensive analysis of the constituent elements of the financial system, the paper establishes the domestic economic system, financial system, foreign economic vulnerability evaluation system, using related quantitative recursive calculation of the catastrophe theory, and evaluates Kazakhstan and China's financial system and gets the financial system fragility coefficient to judge financial system vulnerability degree in China and Kazakhstan respectively. Finally, by comparingform and characteristics of financial fragility between two countries, it puts forward suggestions on how to promote the construction of the “One Belt and One Road”. References | Related Articles | Metrics

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On China's Transportation Infrastructure Investment and Financing in Kazakhstan Gao Yang 2016, (6):  72-78.  doi: 10.16716/j.cnki.65-1030/f.2016.06.009 Abstract ( )   PDF (974KB) ( )   Save Based on the analysis of China's traffic infrastructure investment and financing in Kazakhstan, the paper holds that with the construction of the“Silk Road Economic Belt”, China attaches great importance to investment in transport infrastructure in Kazakhstan, which ranks first in the world. The two countries'interconnection have greatly improved, but there are still some problems,including investment fields being relatively concentrated; investment body being not reasonable; investment and financing channels being single; lack of communication and dialogue mechanism in the process of investment. Therefore, it suggests that the investment in non-resource sectorsshould be expanded,diversified investment body should be introduced, financing channels should be broadened, investment and financing electronic information platform should be set up for transportation infrastructure projects, the communication between the two sides should be strengthened topromote China's traffic infrastructure investment and financing in Kazakhstan. References | Related Articles | Metrics