Zhao, De: The Efficiency of Private Capital Can’t
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Date: 1/12/2007 4:34:42 PM
Sender: Zhao, De
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Zhao, De: The Efficiency of Private Capital Can’t Be Competed by Official Capital in Mainland China
At the time of planned economy, the residents in mainland China were almost all proletarians. In the first decade of Reformation in mainland China country residents began accumulating a little personal property, but personal property increases of civic residents were quite limited and the earning increases were basically all translated into consumption, because the civic economy was still monopolized by the state. In last decade the situation has been changed a lot. Private economy has been developed rapidly in the cities, plus housing private ownership, the personal property began returning to the cities in mainland China. Yet because China Communist Authority rejected national economy private ownership and continued maintaining the control of real estate by any means, although the personal property of residents in mainland China increased rapidly, its frame had great difference from general market economy countries.
The earning increases pay great contribution to personal property increases of civic residents in mainland China, it is reflected mostly by civic residents’ huge increases of personal financial assets and
management assets, and personal management assets of civic residents in mainland China increase obviously the most. Of course, personal management assets of civic residents in mainland China are extremely negligible comparing to governmental management assets. Perhaps even mainland China authority itself doesn’t know about how much on earth governmental management assets in mainland China are.
The private capital, less than tenth of the official capital, has made nearly half Gross National Product and created more occupations than the national capital. The efficiency of private capital can’t be competed by official capital in mainland China.
Zhao, De
Oct. 7, 2005
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