Opinion Leader | Zhou Tianyong
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one thousand nine hundred and seventy-eight Since the beginning of reform and opening up in, China has followed a path of gradual institutional reform, which is different from the transient transition of the former Soviet Union and Eastern Europe. It is a country with a dual system transition. This discussion has become a column, which is issued today.
Readers ask me, what are the tasks of market-oriented reform of the economic system, which have been completed, which have not been completed, and which have not been started? Today, I will extract a part from my book "Dual System Economics" and supplement it as a narrative and reply.
Intuitively, it seems that the product is sold 95% All the above are sold through competitive markets, and a market economy system is formed. This is a shallow level of thinking. In fact, the marketization process of transition countries, from the perspective of physical content, includes three levels: products should be transformed from competitive marketization into commodities, labor, capital and land should be transformed from competitive market allocation into elements, and land and housing should become tradable and priced assets through market valuation.
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1． The market-oriented reform of products has been basically completed
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The earliest and basic market-oriented transactions were from products to commodities. stay one thousand nine hundred and seventy-eight Years ago, raw materials, machinery, vehicles and other means of production and consumer goods were priced by the cost plus method for economic accounting, but planned production, pricing, allocation and use were products. Although there is exchange between rural collectives and urban state-owned enterprises due to different ownership systems, planned pricing still exists. There is a price scissors difference between industrial and agricultural products and products of means of production and means of livelihood in urban and rural areas; In terms of urban consumer goods supply, money plus certificates, quantitative supply and low price sales are suitable for planned recruitment, more employment and low wages. (1) Open the market for unplanned goods. one thousand nine hundred and seventy-eight After, some fruits, vegetables, meat and eggs and other products produced by farmers' private plots and contracted land with remuneration linked to output were first traded in farmers' markets, and then some light industrial products produced by township enterprises were sold in unplanned markets. Later, the products planned to be produced by state-owned enterprises could be independently traded in the market. (2) The consumption and production of the two major categories of products, most of which have been fully opened to market transactions and turned into commodities. one thousand nine hundred and ninety-three In, the Ministry of Goods and Materials was abolished from the State Council, and the quantitative supply of general and durable consumer goods such as food tickets, cloth tickets, and lottery tickets for residents in the past was abolished. In addition to oil and gas, electricity, water, tobacco, and other products, the production of raw materials, machines, vehicles, and other means of production was gradually liberalized in the market and enterprises traded independently. by one thousand nine hundred and ninety-seven In, the overall marketization degree of the product reached 61.71% ， among agriculture products The degree of marketization of industrial products and service products is 77.2% 、 68.3% and 41.1% 。
Of course, in some fields such as electricity, water, oil and gas, there are also monopoly prices of administrative intervention or natural licensing, such as the recent occurrence of chaotic data and arbitrary charges in monopoly meters.
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2． The Basic Formation and Problems of Marketization Allocation of Capital Elements
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The first step is the reform of the supply of state-owned enterprises' funds from financial free transfer to bank loans, the restoration of banks and the establishment of inter-bank funding markets. The main channel for the supply of funds for individual, private, joint-stock and foreign companies is bank loans; one thousand nine hundred and ninety In, the Shenzhen and Shanghai Stock Exchanges were established, expanding the direct financing channels for state-owned and other enterprises; In addition, financial institutions such as insurance, securities, futures, pawn, guarantee, trust and lease have gradually developed, and the trading content has expanded to futures trading, bulk commodity and precious metal trading and other fields; Acknowledging and allowing the existence of the private lending market has formed an indirect and direct, institutional and private, regional and national, multi category and multi-level capital market system.
However, there still exist and have occurred the problems of ownership discrimination in indirect financing and direct financing, administrative intervention, monopoly of big banks, chaos in financing of grass-roots government platforms, four phenomena of small financing institutions, and gradual blockage and rupture of micro, small and medium-sized enterprises' merchant capillary financing channels.
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3． The labor market allocation system is also basically formed and there are still problems
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twenty century eighty In the late s, a large number of rural surplus labor moved out of the village. The industries were manufacturing, construction, industry and mining, and services. The regions were mainly large and medium-sized cities and the southeast coast. The wage level and entry and exit of these labor forces are determined by the market. from ninety Since the middle of the s, workers in state-owned and collective enterprises have been laid off, diverted and re employed, and the contract system has been reformed. reach ninety At the end of the s, college and technical secondary school students graduated, making two-way choices from planning and assigning jobs to graduates and employers. In addition, all regions have established labor market systems, allowing and developing labor agencies and dispatch companies, and initially forming a labor market system.
Since the reform of the labor market, a series of administrative obstacles, mainly household registration control, have still obstructed the flow of population, migration and labor; Although market-oriented allocation factors have been introduced into state-owned enterprises, institutions and national governance institutions, the mechanism of overmanned, randomly set up institutions, being able to go up and down, and being able to enter and leave has not been fully established.
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4． The market-oriented reform of land factors has remained basically unchanged
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Although the construction land needed by cities and towns is supplied free of charge and used with compensation, it has formed a distorted dual land allocation system. In terms of quantity, it is basically the planned allocation and administrative control of land management departments. The process of reform is: rural farmland and forest land are contracted to farmers, and homestead is allocated to farmers. For urban, industrial and mining, transportation and water conservancy and other land, the local government shall implement collective compensation and requisition from rural areas, and allocate the land to land using units free of charge. from twenty century ninety Since the s, the government has still collectively expropriated land from rural suburbs, and transferred foreign construction land by agreement. Then, in addition to the free supply of public land for education, health, transportation and water conservancy, the government transferred all commercial residential, commercial, industrial and mining land by agreement twenty At the beginning of the 20th century, it was successively reformed into the system of competitive selling in the administrative monopoly market of local governments. However, a large number of urban and rural land are forbidden to be traded in the market by rural collectives and land owning units, forming a dual land element allocation system in which a part of urban construction land is monopolized by the government market and a large number of urban and rural land is not allowed or can not be traded.
Although, the land for construction is from ninety Since the s, the land was transferred by agreement to the later bidding, auction and auction. However, the land must be requisitioned from the rural and suburban collective with zero price and low compensation to the local government, and then traded in the local administrative monopoly land bidding, auction and auction market. The source of construction land is either the construction land index planned by the land management department, or the land occupied by the local government will be subject to administrative renovation and village demolition to balance the quantity of construction land in space.
This system of planned allocation and administrative control of land has the following consequences:（ one ）A large number of other rural construction land and homestead land are idle, and some administrative institutions, public institutions, state-owned enterprises, etc. in cities have idle a large number of land with the development and change. Idle, waste and low use construction land, accounting for the total construction land 25% about; In agricultural land, abandoned land occupies the total land 10% About, the area planted with high cost subsidies is larger. （ two ）The vitality and power of economic development have been severely suppressed. Rural farmers and urban residents who want to go to the countryside and need to build houses and houses have no land and houses. Building a chicken house and looking for a toilet are also not allowed. Farmers have no land to develop the secondary and tertiary industries, and private enterprises have difficulty in obtaining land supply. Moreover, there are slight changes in land and construction management, urban and rural construction and land use. With satellite remote sensing monitoring in the sky, an illegal land construction spot will appear immediately, so the law enforcement brigade will be forced to remove it. The consequence of this is that economic growth and development will be completely depressed. The author can bet that the planned allocation and administrative management of land will not be eliminated, and China's future economy will not be able to prosper and develop again without market-oriented allocation and reform of land factors.
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5． Urban and rural land and rural houses are still the means of production and life of the planned economy
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The reform of marketization, monetization and capitalization of some land and housing resources has been promoted, while the other part has banned market transactions to maintain the nature of their natural economic valueless land and housing. The first is to reserve the land to be transferred, and the construction land purchased by developers and industrial and mining enterprises, which can be traded or traded, It has become a one-time investment asset (since after the completion of residential buildings, commercial buildings and office buildings, their land cannot be traded for the second time generally, and after the industrial and mining land is no longer used, it needs to be recovered by the natural resources department and auctioned by it, so they all lose the attribute of tradable stock assets). The houses obtained through monetization reform in cities and sold by real estate developers can be traded in the primary developer's sales market and the secondary second-hand housing market, can be priced, and are assets in the sense of market economy. However, farmland, garden plot, forest land, homestead and other construction land in rural areas are still resources, means of production and means of livelihood land, not assets in the sense of market economy, and cannot be traded in the market or priced.
At present, industrial parks, industrial mines, urban industrial logistics storage, as well as administrative undertakings and other related construction land cannot be traded in the secondary market. Strictly speaking, they are not assets that can be priced and sold in the sense of market economy.
Chang Xiuze, Gao Minghua: The Promotion Degree and Development Ideas of China's National Economy Marketization, Economic Research one thousand nine hundred and ninety-eight The eleven Period.
(About the author: Director of National Economic Engineering Laboratory of Northeast University of Finance and Economics)
