{"id":1726,"date":"2015-02-04T09:29:16","date_gmt":"2015-02-04T08:29:16","guid":{"rendered":"http:\/\/blogg.lnu.se\/china-research\/?p=1726"},"modified":"2015-02-04T09:29:16","modified_gmt":"2015-02-04T08:29:16","slug":"increased-transparency-in-china-an-easy-way-to-some-progress-2","status":"publish","type":"post","link":"https:\/\/blogg.lnu.se\/china-research\/?p=1726","title":{"rendered":"Increased Transparency in China: an Easy Way to (Some) Progress"},"content":{"rendered":"

15 months have gone since the important strategic meeting of the – then \u2013 new Chinese political leadership (Third Plenum). 16 important reform areas were presented with totally 60 more detailed subareas – most of them linked to economic policy and more social well-being. In the year 2020, the results of the reform policy are intended to be checked. In 2022 a new political generation will come into power.<\/p>\n

But what happened in reform policy during 2014? It is certainly not easy to check out reform achievements. Certain policy steps\/measures are more long-term oriented and hard or impossible to recognize in the short run. In other areas – like the financial sector – many changes and improvements are added to each other and can be (theoretically) more easily analyzed. But even in this context, it is difficult to get a fair picture of what has been done.<\/p>\n

After having daily studied economic news from China during 2014, I come to the conclusion that China last year de facto has entered a new era of economic reform policy. However, it seems to be hard or even impossible to evaluate Chinese reform policy\/measures more exactly. Most direct references are linked to the cautious, market-oriented changes of the financial sector. But usually, analysts just find the fragments and remain, consequently, without helicopter view.<\/p>\n

Transparency must increase! This would give China more appreciation and encouragement for the structural reforms that are indeed taking place – despite many times lagging speed and – may be – effectiveness.<\/p>\n

Let\u2019s, for example, look for a moment at the financial sector. Many – mostly small but necessary – reform steps have been taken in the last year. These reform steps were published and available also for foreigners; I have noted these changes myself. However, it seems to be impossible to find an illuminating and detailed summary<\/strong> of all the financial reforms – preferably separated in the domestic and the cross-border financial business.<\/p>\n

Consequently, I would regard as a good idea if the official China could establish a website where all concrete economic reform steps or measures are summarized in line with the reform agenda from November 2013, covering, for example, the financial system, the environment, infrastructure, state-owned enterprises, municipalities, etc. – certainly provided with continuous updating.<\/em><\/p>\n

This would be a good contribution and an easy way to (some) more transparency – based on published reality. China itself and the rest of the world would benefit from simple innovations like this.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

Hubert Fromlet<\/em><\/strong>
\n<\/em>Senior Professor of International Economics, Linnaeus University
\nEditorial board<\/a><\/p>\n

 <\/p>\n

Back to Start Page<\/a>
\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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