In particular, it looks at housing supply, public services and infrastructure, pensions, childcare, the disability system, and raising skills. Such powers for the states may however make it difficult to find the necessary political consensus for reforms, as state governments might condition their approval to federal fiscal legislation on concessions in federal legislation that does not require the approval of the Bundesrat. While commuting would appear to be an option for such people, there are restrictions on the types of jobs that people with rural residence permits are allowed to undertake in urban areas, so limiting their mobility even over short distances. At present, Chinese cities are more equally sized than those in other economies. International experience with cross-border group taxation systems is sparse. Participation rates in secondary education are still lower in poorer parts of the country than in coastal areas. Effective taxation was assessed on the basis of the invalidity track into retirement.
As a result, in the first two months of 2005, the profits of power companies were one third lower than in the same period of 2004. The extent of the increase in inequality, though, depends on the measure of inequality that is used. Reductions in geographic income dispersion are needed Increased fiscal transfers have helped lessen some of the inequalities in economic development but need to be complemented by further liberalisation of the labour market. The 2003 Report of the Survey on Migrant Population Trends in Beijing undertaken by the Beijing Statistics Bureau for instance stated that among the 100 000 migrant children aged between 6-14 the school enrolment rate is 12. In addition, several regions have been targeted by specific government policies.
An example for improving cost awareness: The Austrian Waste Management Tool. For example, cities that obtain central government funding for urban wastewater treatment are obliged to introduce full cost pricing. There are no provisions for independent directors, nor provision for voting methods which would allow shareholders, when voting for directors, to concentrate their votes for all directors on just one director — a method adopted in some other countries to give minority shareholders a voice on boards of directors. Government debt is still relatively high and fiscal consolidation relies to some extent on one-off measures. The impact of this quality improvement has likely been increasing since the mid-1990s as labour markets have started to reward skills to a much greater extent. In addition there is evidence that the role of prices in determining demand increased during the reform period Lin, 2003. While the creation of new companies has been made easier, China currently lacks a comprehensive procedure for restructuring and winding-up companies that fail.
Key financing indicators for state-controlled industrial companies. Moreover, although listing is open to private enterprises, the dominance of the market by state owned companies continues and is likely to change only slowly given the limited amount of new issues that have been allowed each year. Overall, almost onethird of major water basins are classed as highly polluted and 75% of the water flowing in urban areas is unsuitable for drinking or fishing. Following extensive privatisation during the past decade, a residential housing market has emerged, with the owner occupation rate approaching 70% in urban areas. For example, the share of Austrian exports going to China amounts to 1. Revisiting the distribution of tasks and funding principles across the layers of government is likely to have a very significant potential to improve public sector efficiency and generate sizeable savings in the general government budget. Indeed, there is still scope for further improvements within the total Austrian pension system and this is considered next.
The relatively low level of public spending in central provinces, even though per capita incomes are much lower than in high income areas,12 is not limited to infrastructure spending. The recapitalisation of more than two-thirds of the banking system to eliminate this historical burden is almost complete and the cost to public finances of completing the exercise, while substantial, appears to be manageable. Within the industrial sector the private sector share has increased more rapidly than in the non-farm business sector as a whole and can be measured more precisely. Such a reform is needed as the fiduciary duty of directors to shareholders is not clearly established in current law and class actions against directors or companies are difficult to organise. The government has now realised that the movement of rural labourers into urban areas, or across administrative barriers is not a social problem that has to be minimised but a normal consequence of the movement to a market economy and that consequently no barriers should be placed on employment of rural workers in urban areas State Council, 2003.
Indeed, these authors suggest that unrealised agglomeration economies could be as important a source of structural productivity improvements as switching labour from agriculture. The ownership rights attached to urban land are less generous for commercial development than for residential use-rights. Urban housing tenure by employment status 2000 Census Per cent of all housing tenures Owner occupation Government Official Professional Service sector employee Production worker All 68 81 76 56 66 Self built 15 8 20 25 19 Commercial purchase 18 14 11 8 11 Subsidised purchase 48 54 25 33 38 11 16 18 18 17 4 3 19 11 10 3 4 7 6 5 Renter Public Commercial Other Source: Feng 2003 using 0. According to the federal constitution, governments of each level need to be given sufficient financial resources to fulfil the tasks assigned to them. In addition, there are significant differentials between rural and urban prices than can explain a further part of the differential Annex 1.
The annual rate of credit expansion fell by 10 percentage points in four months following the introduction of this policy, helped by falls in the demand for credit from sectors subject to administrative control over their investment that were introduced for macroeconomic control purposes. Initial efforts to solve the banking crisis. Polices covering the price determination, foreign trade, exchange rates, foreign investment, entry barriers, internal markets, the operation of state-owned enterprise and the financial system have all been changed. Recent economic trends and prospects Economic growth in China continued to gain momentum in 2004, averaging 9½ per cent for the whole year. A number of smaller offences can be aggregated to meet this threshold, but it is not clear how the counterfeited articles are to be valued at the price of the fake or the price of the branded product. A number of reforms were introduced beginning in 1978 Table 1. In particular, it looks at housing supply, public services and infrastructure.
In the same vein, means testing and work availability testing should be strict. In the private sector, the improvement in returns has been driven almost totally by a fall in the capital-output ratio. The objectives for pollution reduction are stricter in two designated areas of the country. The estimated coefficients were used to determine the sources of growth as shown in Chapter 1. The general government deficit has drifted up to 1. In particular, it looks at housing supply, public services and infrastructure, pensions, childcare, the disability system, and raising skills.
Using the scenario method, different measures can be compared concerning their current and future economic and ecologic effects. In particular, transfers of state governments to public-sector financed hospitals were replaced by loans to hospitals. The low share of real estate tax revenues by international comparison illustrates the scope to increase utilisation. Share of state firms with financial problems in selected indicators of overall industrial activity1 2003 Problem state firms as per cent of total industry value for each indicator All levels of government By level of government Central Provincial Prefectoral County and other 3. This has been relaxed by the follow-up reform step in that maximum admissible losses in 2004 have been capped at 5%, with the cap increasing linearly by 0. Wide ranging reforms have been introduced since then. The continued re-orientation of the economy towards the private sector could bring considerable gains to real incomes in China.
Source: Eurostat NewChronos database, Board of Governors of the Federal Reserve System, National Bureau of Statistics. Sustaining growth performance while addressing imbalances. The Chinese authorities have been able to sterilise much of this inflow through changes in reserve ratios, open market operations and window guidance to restrain the growth of bank lending without raising interest rates. The average length of time spent studying has been rising three months every year for the past decade, with the process tending to accelerate recently. Such changes would facilitate the expansion of privately-owned companies.