Small Joint-stock Commercial Bank Lending to Small Business Risk Analysis

Size: px
Start display at page:

Download "Small Joint-stock Commercial Bank Lending to Small Business Risk Analysis"

Transcription

1 Small Joint-stock Commercial Bank Lending to Small Business Risk Analysis WANG Shuying, YAN Chao School of Management, Zhengzhou University, P.R.China, Abstract: in China banking full open today, more and more intense market competition, with financial symbiosis theory, "McMillan defect" phenomenon and bank scale economy theory as the theoretical basis, the analysis of small and medium-sized enterprises from the big bank credit financing difficulties, and how to exert joint-stock commercial bank loans to small and medium-sized enterprises, and combined with actual situation in China and foreign successful experience, and actively explore and joint-stock commercial bank financing smes in the process of the risks, and measures. Thus gradually shift joint-stock commercial bank financing for small and medium-sized enterprises, and fully utilize the prejudice joint-stock commercial bank of existing social credit system, through the flexible credit mode, enhancing the ability to resist the risk of small and medium-sized enterprises in China, and maintain social and economic stability. Keywords: Joint-stock commercial bank, Small and medium-sized enterprises, Loans, Risk 1 Current Situation of SMEs in China Small and medium-sized enterprise development and the rise of China's economic rise in recent years is the landmark of the meaning. According to the national bureau of statistics, etc in 2009, according to the new standard of small and medium-sized enterprises in small and medium enterprises, the total amount of the 99% of the enterprise, Small and medium-sized enterprises create the final products and services of value to 50% of GDP, Small and medium-sized enterprises to provide the products, technology and service of export, accounts for about 60% of the total export, In addition, the small and medium-sized enterprises also provides about 75% of urban jobs. Due to its inherent characteristics of small and medium-sized enterprises, and the degree of information asymmetry is higher than average enterprise with its bank, Bank of its financing problems in the hold more cautious attitude often becomes fund shortage, and the development of small and medium-sized enterprises in China. 2 Status of SME Financing and Development Joint-stock Banks Due to the small and medium-sized enterprises in small scale, management risk is big, the financial system is not perfect, such problems as collateral, increase the enterprise financing difficulty, namely " McMillan defect" phenomenon. Money supply, from the current society is in system and structure of dual transformation period, the financial system is more, as in reforming state-owned bank financing function, the process, and the loan risk bigger, from the actual situation, the loan risk analysis is mainly in the business bank management process, because of prior unpredictable uncertainties, the bank credit funds and normal turnover calchas withdraw funds appears, and loss of bad debt glazed, a possibility. For example, bank loans to companies, due to market supply and demand, price adjustment and reform, make loans and normal calchas return cycle, overdue loans, occupy misappropriate loans, credit capital is recovered and loss. All this is caused by the comprehensive consequences, the sme financing becomes the focus in recent years all social hot and difficult problem. With the reform of state-owned commercial Banks, operate independently, in their own profits and losses, and self development condition, the condition of the bank for loan will be more and more demanding, small and medium-sized enterprises want from four state-owned commercial bank loans will also be made more difficult and four state-owned commercial Banks tend to to large state-owned 421

2 enterprises or national infrastructure financing, Small and medium-sized joint-stock commercial bank, though for large enterprise financial difficulties, but the existing financing, in order to avoid the risk in bank financing smes treat it cautious attitude. Different countries and different stages of economic development in different industries, to define the same standard, and with the development of economy and the dynamic change. Countries from two aspects of the quality and quantity of small and medium-sized enterprises are defined, qualitative indexes including the organizational forms and financing ways and industry status, mainly including indicator of paid-in capital, the number of employees, total assets. In China, according to the ninth National People's Congress standing committee in the 28th meeting on June 29, 2002, of the People's Republic of China by the spirit of the promotion of small and medium-sized enterprises, the state economic and trade commission and the state development planning commission, the ministry of finance and the state statistics bureau in February 19, 2003, the interim regulations issued by small and medium-sized enterprise standard circular (economic and trade sme (2003) : 143, the main industries of small and medium-sized enterprises, which make the specific standard definition. This standard is the enterprise according to the number of staff and workers, sales, total assets, combining the characteristics of industry etc. Pursuant to the notice of the small and medium-sized enterprises of different industries should be recognized in accordance with the criteria: Standards for Defining SMEs Classification Worker Sales Total assets Industrial fields million the 400 million the SMEs 300 or more More than 30 More than 40 million million Retail industry million the More than 10 million wholesales million the More than 30 million Accommodation and 150 million the 800 restaurants construction business 300 million the 400 million the 3000 Transportation industry million the 2.1 Henan situation of the financing For small and medium-sized enterprise development, facing many constraints, especially in financing issues facing difficulties are bigger, these are directly restricts the development of small and medium-sized enterprises, affect China's economy. In henan province as an example, the small and medium-sized enterprises in henan province, according to the census service enterprise reflects 94.1% loans are still restrict the development of main problems, 55% of small and medium-sized enterprises due to insufficient funds flowing to reach the design production capacity, 92% of the small and medium-sized enterprises due to lack of money to expand the scale of production or technical renovation, the interest of small and medium-sized enterprises mainly rely on folk financing source of funds and private capital. While provinces of small and medium-sized enterprises, service of small and medium-sized enterprises obtain loans support its contributions not congruent with: 2007 compared in small and medium-sized enterprises, the total number of enterprises of the above 99%, realize the value of GDP, small and medium-sized enterprises above designated size 59% of the profits of 69.3 percent. According to the investigation and statistics, financial institutions, credit of small and medium-sized enterprises accounted for only the small and medium-sized enterprises and individual industrial and 422

3 commercial households 0.26% total. So the development of small and medium-sized enterprises in financial services, is the commercial Banks should implement strategic choice. China banking regulatory commission chairman mingkang has made it clear that currently exist large Banks operate in the home ", "the loan risk is relatively concentrated, the urgent need to guard against credit loan structure optimization, risk, Bank lending in the small business is to adjust the structure of banking assets, the rational choice of bank risk. In China, the sme financing problems is always a problem for Banks, because of this, the financing smes has become a bottleneck growth. Therefore, we see in small and medium-sized enterprise credit risk of existence, more should spend part of energy to do change old ideas and create new system, perfect the new policy, high credibility system construction of market economy environment. According to the state council development research center of the small and medium-sized enterprises in China, according to the survey, the financing of small and medium-sized enterprises widespread, the enterprise will 66.9% fund shortage is listed as the main problems of enterprise development. Sme financing difficulties mainly in the aspects: one is the financing channel is narrow, the current development of small and medium-sized enterprises mainly rely on their own internal financing, medium and small-sized enterprises problems restricting its access to external finance support, Second is the bank loans, are mainly provide bank liquidity and fixed assets, but seldom provides long-term capital credit, the existing financial institutions to support the development of small and medium-sized enterprises lack system. Three is the lack of resources, and long-term stability of financial institutions to develop a stagnant stock financing smes to reduce the chance. 2.2 Direction of joint-stock banks Facing the financing difficulties of small and medium-sized enterprises, and I think as the joint-stock Banks should improve their ideas and innovations, USES the existing social credit system, flexible in small and medium-sized enterprise credit model, provides a powerful on loan. First, as the joint-stock Banks should improve credit approval process, change the previous idea and the error of the medium-sized and small enterprises discrimination, credit approval to more mature and scientific concept, to establish a set of suitable for small and medium-sized enterprise characteristics of risk evaluation mechanism. No longer with enterprise's capital scale, sales and earnings as the only standard to measure the small and medium-sized enterprises, and decided to loan financing capability of judgment, but should not from the enterprise growth capacity, industry, product characteristic, the future business ideas, long-term planning, etc, the overall evaluation of comprehensive consideration of the small and medium-sized enterprises to risk ability, as a yardstick, such ability in examining and approving the sme financing, more scientific and objective of the loans to small and medium enterprises to assess the risk. As the author of zhengzhou branch of Industrial Bank, visit and understanding, the dynamic socgen inline bank in July 2005, held a small and medium-sized enterprise financial services to develop, small and medium-sized enterprises of the importance and urgency of the market, and agreed immediately after the small and medium-sized enterprises established financial services subject research team, in the pearl river delta, Yangtze river delta and minnan region triangle investigation. According to the understanding of 2006 in socgen relevant working meeting of "533 engineering", by 2010, the bank will cultivate high-quality sme credit customer 2 million new small and medium-sized enterprise quality credit asset 3,000 million, establish three small and medium-sized enterprise characteristic products series. In march of 2006, the industrial bank officially launched "on smes financial services pilot. For small and medium-sized enterprise customers convenient, quick, can consider the financing needs of small and medium-sized enterprises tailored specifically for the examination and approval procedures set, small and medium-sized enterprises, and green channel with more scientific ideas, improve the efficiency of approval for examination and approval. April 1, 2006, will start at societe generale, hangzhou, guangzhou, nanjing, ningbo, quanzhou and zhangzhou six branches in small and medium-sized enterprise financial services, the pilot smes' credit approval of "green channel". By 2010, feb. 9, Industrial Bank and fujian sme credit guarantee limited liability company again in fuzhou signed 423

4 the strategic cooperative agreement. According to the agreement, Industrial Bank to fujian sme credit guarantee to provide total limited liability company is about 20 million, the forehead intent on both sides will sme financing services business cooperation, full of exploratory and innovative spirit sme financing guarantee mode, solve problem of small and medium-sized enterprises, and guarantee to prevent and dissolve the sme credit risk, support rapid and healthy development of smes. Since founded in 2009, Industrial Bank spilling of small businesses gradually realized the financial services of professional operation and management, and successively in fuzhou, xiamen, quanzhou, guangzhou, shenzhen, nanjing, hangzhou, ningbo, chengdu, wuhan, ten cities such as small, founded in the construction of small business, professional service system. In the current smes financing and guarantee generally difficult situation, the joint-stock Banks can according to its own characteristics of small and medium-sized enterprises can add specialized departments and agencies and organizations related personnel, according to the different small and medium-sized enterprises, develop different smes' credit business development plan, and can also set up a set of expanding the small business rapid examination mechanism. At the same time, from the perspective of the credit standards, the credit mess solve experience to social relational credit phase transition, the credit stage only when the enterprise credit awareness becomes a consensus, credit problems will be completely resolved. Secondly, the joint-stock Banks for small and medium-sized enterprises should actively develop the characteristics of credit. At present, under the environment of the market for small and medium-sized enterprise characteristics of credit product has wide development space. Some scholars that Banks can establish credit relations on the basis of series, in order to provide financial services for enterprises, and the formation of enterprise information, which in fact control against the borrower moral risk, share the revenue growth. Needle financial products will vary for their clients, to determine the survival and development of the corresponding to different product structure, should the customer group. As the personal management socgen loan business - "industrial upgrading," the business of it again with subject, and quickly, easily also, the high limit cost five characteristics, and "save" personal "industrial business loan" maximum expand the scope of subject, credit "as business operators, enterprises and partnership, limited liability company's main partner or shareholder, the main natural can put forward to the bank loan application. Therefore, share-holding commercial Banks in the risk control, under the premise of reduced smes' credit entry, functional diversity, flexible varieties of credit guarantee, according to the actual situation of small and medium-sized enterprises can satisfy different customers, in the business community needs while actively develop rich content, the various forms of marketing and promotional activities, such as in the news media introduces characteristics of small and medium-sized enterprises bank credit product credit business. The personnel sent into the industrial zone, small business varieties, through publicity to business owners, the enterprise executives, finance department, etc. Products, Therefore, according to different enterprises, provides different credit, and the characteristics of small and medium-sized enterprises credit guarantee products can greatly, and promote the role of commercial bank financing smes confidence. Finally is according to the practical situation of differentiation of financing strategy area. In coastal areas, the private economy developed places, financing smes compared to the demand, the mainland is relatively low. Financing facilities area to take root, also make business enterprise of high dependence on financial services, thus sme financing business requirements. Therefore, in small and medium enterprises to carry out regional business financing, financing strategy, the differentiation of the priority of the arrangement for the appropriate scale, smes' credit to each region characteristic of small and medium-sized enterprise credit market. Although at present the loan problem of small and medium-sized enterprises is still a topic, but no matter how, according to results of smes' credit problems will have further breakthrough. For small and medium-sized enterprises in financing, except on the question of policy and institutional tilted support, still should vigorously promote honesty education and cultivation of social capital, but the social capital is not lasting stability, when its financial credit of the defects of the circumstance, still need to government and financial industry, to make up for the defect of social capital itself. Other 424

5 countries in the world by the government for the establishment of small and medium-sized enterprises to promote the service policy Banks is the development of national economy, effective measures. Therefore, we should not only see small and medium-sized enterprise credit risk, but more to see small businesses can make greater market, China's financial system from the existence of small and medium-sized enterprises in financing and financing mechanism, accelerate the phenomenon to establish and perfect the sme financing policies to support the development of small and medium-sized enterprises. Small and medium-sized enterprises in China will become the emerging and major credit market, become the subject of independent innovation of small and medium-sized enterprises to develop, so the financial business operations of commercial Banks in China is the inevitable choice of structural transformation. References [1]. Jiang Qiwu, Zhou Haowen. Bank of Credit Management [M]. Beijing: Higher Education Press, (in Chinese) [2]. Wu Qin. Financing of SMEs in China and Countermeasures of [J]. National Business, :82-83(in Chinese). [3]. Yi Changjun. Theory from the financial symbiotic harmonious development of the financial environment in China[J]. Business Times, : (in Chinese) [4]. Zhao Yujuan. On the SME credit in the bank credit benchmark problem [J]. Trade Research, : (in Chinese) [5]. Ma Weihua. Establish and improve long-term operational risk management mechanism [J]. China's financial, 2005,(16). (in Chinese) [6]. Zhao Jiang, Feng Zongxian. Relationship lending to SMEs to solve the credit problem? - Bertrand oligopoly established under the framework of theoretical models [J]. Explorations, : (in Chinese) [7]. Wang Xiao, Zhang Jie. Bank credit rationing and small loans [J]. Economic Research, : (in Chinese) [8]. Xiong Weiguo. China issues commercial bank loans of small and medium enterprises [J]. Enterprise economy, (12). (in Chinese) [9]. Guo Zhifang. "McMillan shortcomings" and the financing of SMEs in China [A], economic issues, : (in Chinese) 425

Boosting SMEs with Better and Innovative Financing Services

Boosting SMEs with Better and Innovative Financing Services ISSN 1816-6075 (Print), 1818-0523 (Online) Journal of System and Management Sciences Vol. 4 (2014) No. 2 Boosting SMEs with Better and Innovative Financing Services Wei Liu 1 1 Department of Integrated

More information

Innovation of University Teaching Faculty Management Mode

Innovation of University Teaching Faculty Management Mode Innovation of University Teaching Faculty Management Mode Yuzheng Han 1,* & Boyu Wang 1 1 Personnel Division, Changchun University of Science and Technology, Changchun, Jilin province, China *Correspondence:

More information

Research on Technological Innovation Network of Colleges under Regional Economic Development. Aiwen Wang

Research on Technological Innovation Network of Colleges under Regional Economic Development. Aiwen Wang International Conference on Education, Management and Computing Technology (ICEMCT 2015) Research on Technological Innovation Network of Colleges under Regional Economic Development Aiwen Wang School of

More information

The Competitiveness of Chinese Circulation Industry 1 Perspective on the Industrial Structure

The Competitiveness of Chinese Circulation Industry 1 Perspective on the Industrial Structure The of Chinese Circulation Industry 1 Perspective on the Industrial Structure LI Hui School of Business, Renmin University of China, P.R.China, 100872 ququ4092@163.com Abstract: Since Chinese reform and

More information

Credit risk management of commercial bank

Credit risk management of commercial bank Available online www.jocpr.com Journal of Chemical and Pharmaceutical Research, 2014, 6(5):1784-1788 Research Article ISSN : 0975-7384 CODEN(USA) : JCPRC5 Credit risk management of commercial bank Qian

More information

Research on small and medium enterprises financing mode based on supply chain finance

Research on small and medium enterprises financing mode based on supply chain finance Available online www.jocpr.com Journal of Chemical and Pharmaceutical Research, 0, ():88-8 Research Article ISSN : 09-8 CODEN(USA) : JCPRC Research on small and medium enterprises financing mode based

More information

The Construction of SME Accounting Information System

The Construction of SME Accounting Information System The Construction of SME Accounting Information System LIU Zhihua School of Business Administration, Jiangxi University of Finance and Economics, P.R. China, 330013 jethro@163.com Abstract: SMEs have become

More information

The Law of Energy Management Contract

The Law of Energy Management Contract The Law of Energy Management Contract ZHANG Yudong School of Economic and Trade law, Shandong University of political science and law, China, 250014 zhangyudongde@yahoo.com.cn Abstract: Introducing the

More information

Research on Order Financing System Dynamics in the Chain Finance Model

Research on Order Financing System Dynamics in the Chain Finance Model Cross-Cultural Communication Vol. 12, No. 8, 2016, pp. 25-30 DOI:10.3968/8700 ISSN 1712-8358[Print] ISSN 1923-6700[Online] www.cscanada.net www.cscanada.org Research on Order Financing System Dynamics

More information

Real estate investment project risk analysis

Real estate investment project risk analysis Available online www.jocpr.com Journal of Chemical and Pharmaceutical Research, 2014, 6(5):1789-1794 Research Article ISSN : 0975-7384 CODEN(USA) : JCPRC5 Real estate investment project risk analysis Li

More information

Factoring: A n Effective Financing Option to SMEs in China

Factoring: A n Effective Financing Option to SMEs in China Factoring: A n Effective Financing Option to SMEs in China FENG Yue Economics and Management Department, Nanjing Institute of Technology, P.R.China, 211167 fengyue@njit.edu.cn Abstract: Factoring is a

More information

A Research for Structural Unemployment of College Students in Shandong Province

A Research for Structural Unemployment of College Students in Shandong Province A Research for Structural Unemployment of College Students in Shandong Province ZHU Qingmei, SUN Xiaoyan School of Economics, University of Jinan, P.R.China, 250011 se_zhuqm@126.com Abstract: During the

More information

Research on the Legal System of the Export Credit Insurance in China s Foreign Trade

Research on the Legal System of the Export Credit Insurance in China s Foreign Trade Voice of the Publisher, 2015, 1, 41-45 Published Online September 2015 in SciRes. http://www.scirp.org/journal/vp http://dx.doi.org/10.4236/vp.2015.12007 Research on the Legal System of the Export Credit

More information

Study on the Solution to the Financing of Enterprises in Supply Chain Finance

Study on the Solution to the Financing of Enterprises in Supply Chain Finance Study on the Solution to the Financing of Enterprises in Supply Chain Finance Huang Ruiyu & Wang Yuxi School of Management Shanghai University of Engineering Science Shanghai China Abstract Facing the

More information

Research on Tax Burden and Industrial Structure Optimization of Guangdong Province

Research on Tax Burden and Industrial Structure Optimization of Guangdong Province Open Journal of Social Sciences, 2016, 4, 108-114 Published Online February 2016 in SciRes. http://www.scirp.org/journal/jss http://dx.doi.org/10.4236/jss.2016.42015 Research on Tax Burden and Industrial

More information

Research on the Deposit Insurance Pricing Under the Marketing RMB Interest Rate

Research on the Deposit Insurance Pricing Under the Marketing RMB Interest Rate Research on the Deposit Insurance Pricing Under the Marketing RMB Interest Rate Lingyan Sun 1, Tianning Shi 1, Panlu Shi 1 1 School of Science, Nanjing University of Science and Technology, Nanjing, China.

More information

Relations of Labor Relations and Organizational Performance: Based on Cooke Model

Relations of Labor Relations and Organizational Performance: Based on Cooke Model Relations of Labor Relations and Organizational Performance: Based on Cooke Model WANG Junling 1,2, JIANG Wenqin 3, LIU Kun 1,2 1. School of Public Management, Shandong Institute of Business and Technology,

More information

The Financing and Corporate Governance Effect of Issuing Corporate Bonds by Listed Companies

The Financing and Corporate Governance Effect of Issuing Corporate Bonds by Listed Companies The Financing and Corporate Governance Effect of Issuing Corporate Bonds by Listed Companies ZHANG Jingmin Beijing Jiaotong University, 100044 Abstract: This paper pays attention to the issuance of corporate

More information

Comparisons and References: SMEs Non-life Insurances Between China and UK

Comparisons and References: SMEs Non-life Insurances Between China and UK Comparisons and References: SMEs Non-life Insurances Between China and UK KANG Yi, XING Xiuqin, SU Yanzhi School of Management, Beijing Union University, P.R.China, 100101 gltkangyi@buu.edu.cn Abstract:

More information

Research on Industry Agglomeration of Construction Machinery Industry Based on Location Quotient Index Xue YANG1,a

Research on Industry Agglomeration of Construction Machinery Industry Based on Location Quotient Index Xue YANG1,a 2014 International Conference on Social Science (ICSS 2014) Research on Industry Agglomeration of Construction Machinery Industry Based on Location Quotient Index Xue YANG1,a 1 School of Management Science,

More information

The Application of Financial Analysis in Business Management

The Application of Financial Analysis in Business Management Open Journal of Business and Management, 2016, 4, 471-475 Published Online July 2016 in SciRes. http://www.scirp.org/journal/ojbm http://dx.doi.org/10.4236/ojbm.2016.43048 The Application of Financial

More information

SME Financing of the Post-crisis Era in China Based on Blue Ocean Strategy

SME Financing of the Post-crisis Era in China Based on Blue Ocean Strategy SME Financing of the Post-crisis Era in China Based on Blue Ocean Strategy MENG Lizhen Guangxi University of Finance and Economics, Guangxi, P.R.China, 530003 Abstract: This paper deeply analyzed the financing

More information

Study on the Theory and Practice of Loan Pricing of Banks of Village and Town in China

Study on the Theory and Practice of Loan Pricing of Banks of Village and Town in China Study on the Theory and Practice of Loan Pricing of Banks of Village and Town in China YU Lihong, LAN Qinggao School of Economics and Management, Shenyang Agricultural University, China, 110866 jane_yu2008@163.com

More information

PROJECT MANAGEMENT INNOVATION BASED ON BUILDING INFORMATION MODELING

PROJECT MANAGEMENT INNOVATION BASED ON BUILDING INFORMATION MODELING PROJECT MANAGEMENT INNOVATION BASED ON BUILDING INFORMATION MODELING CHANGHUA LI Hefei University, Office of Science and Technology, China drch88@aliyun.com LEON PRETORIUS University of Pretoria, Department

More information

Analysis on the Advantages and Disadvantages of Clothing Network Marketing

Analysis on the Advantages and Disadvantages of Clothing Network Marketing Analysis on the Advantages and Disadvantages of Clothing Network Marketing Liya Zhao Shanghai University of Engineering Science Fashion Institute Shanghai, China Jing Zhou Shanghai University of Engineering

More information

Development Proposals in China s Bond Market Based on Major Capital Markets Overseas and Inter-bank Market Experience Liu Xiaoti

Development Proposals in China s Bond Market Based on Major Capital Markets Overseas and Inter-bank Market Experience Liu Xiaoti International Conference on Education, Management and Computing Technology (ICEMCT 2015) Development Proposals in China s Bond Market Based on Major Capital Markets Overseas and Inter-bank Market Experience

More information

Credit Guarantees for Small Business Lending

Credit Guarantees for Small Business Lending Credit Guarantees for Small Business Lending -Experiences of a small business credit guarantee company Contents Importance of SMEs in the Chinese economy SMEs current access to finance Current status of

More information

Risk Identification and Evaluation in Trade Finance Innovation of Commercial Banks

Risk Identification and Evaluation in Trade Finance Innovation of Commercial Banks Vol. 3, No. 9 International Journal of Business and Management 40 Risk Identification and Evaluation in Trade Finance Innovation of Commercial Banks Yijun Yuan, Shaopeng Tan, Dawei Li Department of Economics,

More information

Research on Perfecting the Rural Social Endowment Insurance System in Yangtze River Delta

Research on Perfecting the Rural Social Endowment Insurance System in Yangtze River Delta Research on Perfecting the Rural Social Endowment Insurance System in Yangtze River Delta Shufen Zhou 1, Lin Han 1, Hong Wang 1 & Keying Bi 1 1 College of Social Sciences, Shanghai University of Engineering

More information

Study on the financing methods of China's listed companies

Study on the financing methods of China's listed companies 2011 3rd International Conference on Information and Financial Engineering IPEDR vol.12 (2011) (2011) IACSIT Press, Singapore Study on the financing methods of China's listed companies Xiya Luo 1 School

More information

China Opening Up to the world

China Opening Up to the world 1 China Opening Up to the world 2 Today, everyone is talking about the fruits of China s reform and opening-up policies. What was China s economy like before 1978? Upon the founding of the People s Republic

More information

The Research of Ideological and Political Education to Promote Human Resources Development for University Students

The Research of Ideological and Political Education to Promote Human Resources Development for University Students The Research of Ideological and Political Education to Promote Human Resources Development for University Students WANG Xiaonan, TIAN Liuxuan School of Political Science and Law, Henan Polytechnic University,

More information

Modern Logistics Financial Services Innovation Finance Logistics

Modern Logistics Financial Services Innovation Finance Logistics Modern Logistics Financial Services Innovation Finance Logistics Yu Ping School of Economics, Wuhan University of Technology, P.R.China,430070 Abstract: The development of modern logistics is indispensable

More information

Chapter 2 Study on Functional Mechanism and Effectiveness of Land Ticket System in the Process of New-Type Urbanization

Chapter 2 Study on Functional Mechanism and Effectiveness of Land Ticket System in the Process of New-Type Urbanization Chapter 2 Study on Functional Mechanism and Effectiveness of Land Ticket System in the Process of New-Type Urbanization Jiangtao Fang Abstract Most districts of China have already taken measurements in

More information

Management innovation and core competitive advantages of SMEs

Management innovation and core competitive advantages of SMEs Dec. 2009, Volume 8, No.12 (Serial No.78) Chinese Business Review, ISSN 1537-1506, USA Management innovation and core competitive advantages of SMEs WANG Wan-xun 1, ZHAO Jie 2, CHEN Hao-wen 2 (1. Xi an

More information

Research on the Tax Burden of Chinese Insurance Companies After Replacing the Business Tax with a Value-added Tax

Research on the Tax Burden of Chinese Insurance Companies After Replacing the Business Tax with a Value-added Tax International Business and Management Vol. 10, No. 1, 2015, pp. 111-116 DOI:10.3968/6510 ISSN 1923-841X [Print] ISSN 1923-8428 [Online] www.cscanada.net www.cscanada.org Research on the Tax Burden of Chinese

More information

Construction of China s Publishing Enterprise Agile Supply Chain

Construction of China s Publishing Enterprise Agile Supply Chain Construction of China s Publishing Enterprise Agile Supply Chain Mei juan Zhang 1, Yun Cai 2, Xiang Hui Yang 2 1 Zhang Mei Juan, Dr., associate professor, School of Information Management of Wuhan University,

More information

China COSCO Holdings Company Limited *

China COSCO Holdings Company Limited * Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness

More information

Shanghai FTA Financial Reform Push Shipping Promotion

Shanghai FTA Financial Reform Push Shipping Promotion Shanghai FTA Financial Reform Push Shipping Promotion Jin Yan Hao Yong Shanghai University of Engineering Science College of Management Shanghai, China Abstract The relationship between finance and shipping

More information

Practice Teaching System Establishment in the Major of Tourism Management

Practice Teaching System Establishment in the Major of Tourism Management Higher Education of Social Science Vol. 8, No. 4, 2015, pp. 75-79 DOI: 10.3968/6856 ISSN 1927-0232 [Print] ISSN 1927-0240 [Online] www.cscanada.net www.cscanada.org Practice Teaching System Establishment

More information

Analysis of Influence Factors on Scientific and Technological SMEs Financing Based on DEMATEL

Analysis of Influence Factors on Scientific and Technological SMEs Financing Based on DEMATEL 2011 International Conference on Information Communication and Management IPCSIT vol.16 (2011) (2011) IACSIT Press, Singapore Analysis of Influence Factors on Scientific and Technological SMEs Financing

More information

Study on the Comprehensive Evaluation of the Financial Core Competitiveness for the Listed Companies in Chinese Steel Industry

Study on the Comprehensive Evaluation of the Financial Core Competitiveness for the Listed Companies in Chinese Steel Industry Study on the Comprehensive Evaluation of the Core Competitiveness for the Listed Companies in Chinese Industry Yanhui Wang, Yajun Guo & Yanqing Zhuang School of Business Administration Northeastern University

More information

Analysis on the Value of Logistics Finance to Small and Medium-sized Enterprises

Analysis on the Value of Logistics Finance to Small and Medium-sized Enterprises Analysis on the Value of Logistics Finance to Small and Medium-sized Enterprises WANG Yongping School of Management, Beijing Union University, China, 100101 gltyongping@buu.edu.cn Abstract: Logistics finance

More information

China - One Nation, Multiple Markets

China - One Nation, Multiple Markets Hong Kong Your Fast Track to China China - One Nation, Multiple Markets Presented by : Fanny Ting Marketing Director Victorinox Hong Kong Limited Agenda 1. How Victorinox Hong Kong (VHK) sees the China

More information

Constraints of External Sources of Financing for Domestic Private Enterprises in China

Constraints of External Sources of Financing for Domestic Private Enterprises in China International Conference on the Modern Development of Humanities and Social Science (MDHSS 2013) Constraints of External Sources of Financing for Domestic Private Enterprises in China Fang Yang Higher

More information

Current Situation and Development Trend of Applied Linguistics Fang Li

Current Situation and Development Trend of Applied Linguistics Fang Li International Conference on Education Technology and Social Science (ICETSS 2014) Current Situation and Development Trend of Applied Linguistics Fang Li Zhengzhou Vocational College of Industrial Safety

More information

Analysis on Performance Appraisal Management System of Small Architectural Design Firm

Analysis on Performance Appraisal Management System of Small Architectural Design Firm Analysis on Performance Appraisal Management System of Small Architectural Design Firm CAI Hong, JIANG Xilong Beijing Union University, P.R.China Abstract: Modern management information is becoming an

More information

Utilizing and Prospects for the Guangdong Pilot Free Trade Zone

Utilizing and Prospects for the Guangdong Pilot Free Trade Zone Mizuho Bank, Ltd., Hong Kong Corporate Banking Division No. 1 China ASEAN Research & Advisory Department June 2015 Utilizing and Prospects for the Guangdong Kazutaka Sakauchi China ASEAN Research & Advisory

More information

Study on the Merger and Acquisition Motivations and Strategy of High-tech SME

Study on the Merger and Acquisition Motivations and Strategy of High-tech SME Study on the Merger and Acquisition Motivations and Strategy of High-tech SME LI Lihua, YUE Feifei School of Management, University of Jinan, Jinan, Shandong, China, 250022 sm_lilh@ujn.edu.cn Abstract:

More information

Analysis of China's Economic Development Difficulties based on the Principles of Marxism-From Virtual Economy to Real Economy.

Analysis of China's Economic Development Difficulties based on the Principles of Marxism-From Virtual Economy to Real Economy. 3rd International Conference on Science and Social Research (ICSSR 2014) Analysis of China's Economic Development Difficulties based on the Principles of Marxism-From Virtual Economy to Real Economy Zhongying

More information

Analysis of Inventory Management in China Enterprises

Analysis of Inventory Management in China Enterprises Analysis of Inventory Management in China Enterprises JIAO Jianling, LI Kefei School of Accounting, Hebei University of Economics and Business, China, 050061 jeanjiao@tom.com Abstract: Inventory management

More information

Research on Construction of Fiscal and Tax Mechanism of China's Energy-saving Industry

Research on Construction of Fiscal and Tax Mechanism of China's Energy-saving Industry Proceedings of the 8th International Conference on Innovation & Management 313 Research on Construction of Fiscal and Tax Mechanism of China's Energy-saving Industry Yang Feng, Wang Dongwei, Si Danmin

More information

Small and Medium-Sized Enterprise Human Resources Management Outsourcing Feasibility Study in China

Small and Medium-Sized Enterprise Human Resources Management Outsourcing Feasibility Study in China International Journal of Business and Social Science Vol. 5, No. 7; June 2014 Small and Medium-Sized Enterprise Human Resources Management Outsourcing Feasibility Study in China Hepeng School of Management

More information

THE MAINLAND 21.9 % +45.7 % BUSINESS ON

THE MAINLAND 21.9 % +45.7 % BUSINESS ON DIRECTION EXPANDING HORIZONS 58 HANG SENG BANK ANNUAL REPORT 2011 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS ON THE MAINLAND Our mainland China business recorded encouraging growth in 2011 as we successfully

More information

Study on the Operation Risk and Risk Management of Banks of Village and Town in China

Study on the Operation Risk and Risk Management of Banks of Village and Town in China Study on the Operation Risk and Risk Management of Banks of Village and Town in China YU Lihong 1, HAO Xinhao 2 1. School of Economics and Management, Shenyang Agricultural University, China, 110866 2.

More information

Analysis on the Electronic Business Enterprise Supply Chain Management Optimization. Ningning Pan

Analysis on the Electronic Business Enterprise Supply Chain Management Optimization. Ningning Pan International Conference on Management Science, Education Technology, Arts, Social Science and Economics (MSETASSE 2015) Analysis on the Electronic Business Enterprise Supply Chain Management Optimization

More information

Agricultural Tourism Development Strategy

Agricultural Tourism Development Strategy Agricultural Tourism Development Strategy WANG Ying College of Economics and Trade, Hebei Normal University of Science &Technology, Qinhuangdao, China, 066004 wangying3003@163.com Abstract: Agricultural

More information

Probe into Modes of International Human Resource Management in Chinese Small and Medium Enterprises

Probe into Modes of International Human Resource Management in Chinese Small and Medium Enterprises International Review of Business Research Papers Volume 6. Number 5. November 2010. Pp. 263 273 Probe into Modes of International Human Resource Management in Chinese Small and Medium Enterprises Yan Gao

More information

The dramatic economic and spatial transformation of China since the adoption of

The dramatic economic and spatial transformation of China since the adoption of Chapter REGIONAL CONTEXT The dramatic economic and spatial transformation of China since the adoption of pragmatic development policies in 1979 is not easy to track due to China s vast scale. For the past

More information

How the small and medium-sized enterprises owners credit features affect the enterprises credit default behavior?

How the small and medium-sized enterprises owners credit features affect the enterprises credit default behavior? E3 Journal of Business Management and Economics Vol. 3(2). pp. 090-095, February, 2012 Available online http://www.e3journals.org/jbme ISSN 2141-7482 E3 Journals 2012 Short communication How the small

More information

Analysis on E-Commerce Crisis in China in the International Trade Environment

Analysis on E-Commerce Crisis in China in the International Trade Environment Modern Economy, 2016, 7, 71-76 Published Online January 2016 in SciRes. http://www.scirp.org/journal/me http://dx.doi.org/10.4236/me.2016.71008 Analysis on E-Commerce Crisis in China in the International

More information

Research on the Linkage Development and Countermeasures of Manufacturing Industry and Logistics Industry. Qingmin Yuan a, Jianan Lei b

Research on the Linkage Development and Countermeasures of Manufacturing Industry and Logistics Industry. Qingmin Yuan a, Jianan Lei b International Conference on Management Science and Innovative Education (MSIE 2015) Research on the Linkage Development and Countermeasures of Manufacturing Industry and Logistics Industry Qingmin Yuan

More information

SINOPEC Engineering (Group) Co., Ltd. * (a joint stock limited liability company incorporated in the People s Republic of China)

SINOPEC Engineering (Group) Co., Ltd. * (a joint stock limited liability company incorporated in the People s Republic of China) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness

More information

The Analysis of the Mechanism of Coordinated Development between the Road Transport Logistics Infrastructure and the Logistics Service

The Analysis of the Mechanism of Coordinated Development between the Road Transport Logistics Infrastructure and the Logistics Service Journal of Service Science and Management, 2015, 8, 372-381 Published Online June 2015 in SciRes. http://www.scirp.org/journal/jssm http://dx.doi.org/10.4236/jssm.2015.83039 The Analysis of the Mechanism

More information

Research on the Development of Software Outsourcing Industry of Dalian City of. China

Research on the Development of Software Outsourcing Industry of Dalian City of. China Research on the Development of Software Outsourcing Industry of Dalian City of China Liu Xin, *Cai Li International Business School, Dalian Nationalities University, Dalian, China *caili@dlnu.edu.cn Abstract

More information

The Empirical Measurement of Interest Rate Risk of China s Commercial Banks in the Process of Interest Rate Liberalization

The Empirical Measurement of Interest Rate Risk of China s Commercial Banks in the Process of Interest Rate Liberalization The Empirical Measurement of Interest Rate Risk of China s Commercial Banks in the Process of Interest Rate Liberalization Binjia Yang 1 & Gendi Wen 1 1 China Minsheng Banking Corporation, Beijing, China

More information

Journal of Chemical and Pharmaceutical Research, 2014, 6(5):1795-1800. Research Article

Journal of Chemical and Pharmaceutical Research, 2014, 6(5):1795-1800. Research Article Available online www.jocpr.com Journal of Chemical and Pharmaceutical Research, 2014, 6(5):1795-1800 Research Article ISSN : 0975-7384 CODEN(USA) : JCPRC5 Research on reputation risk management of commercial

More information

Food Safety Control from the Perspective of Supply Chain

Food Safety Control from the Perspective of Supply Chain International Conference on Education Technology and Economic Management (ICETEM 2015) Food Safety Control from the Perspective of Supply Chain Weiyan Xie Guangxi Vocational College of Technology and Business,

More information

Design and Implementation of Supermarket Management System Yongchang Rena, Mengyao Chenb

Design and Implementation of Supermarket Management System Yongchang Rena, Mengyao Chenb 4th International Conference on Mechatronics, Materials, Chemistry and Computer Engineering (ICMMCCE 2015) Design and Implementation of Supermarket Management System Yongchang Rena, Mengyao Chenb College

More information

Analysis of Development Causes and Risk Prevention to Logistics Financing

Analysis of Development Causes and Risk Prevention to Logistics Financing Analysis of Development Causes and Risk Prevention to Logistics Financing SHUAI Bin 1, YAN Ying 2 1. School of Traffic and Transp., Southwest Jiaotong University, Chengdu 610031, China 2. School of Logistics,

More information

Analysis of staff training needs at Xiahua Factory based on OTP mode Huizhen Zheng

Analysis of staff training needs at Xiahua Factory based on OTP mode Huizhen Zheng 2014 International Conference on Economic Management and Social Science (EMSS 2014) Analysis of staff training needs at Xiahua Factory based on OTP mode Huizhen Zheng Beifang Univesity of Nationalities,

More information

Analysis on Influencing Factors of Entrepreneurial Environment of College Students Based on PEST Model. Yinying Zhang 1, Xionglin Lai 1

Analysis on Influencing Factors of Entrepreneurial Environment of College Students Based on PEST Model. Yinying Zhang 1, Xionglin Lai 1 3rd International Conference on Science and Social Research (ICSSR 2014) Analysis on Influencing Factors of Entrepreneurial Environment of College Students Based on PEST Model Yinying Zhang 1, Xionglin

More information

On the Brief Exploration of the Cultural Development of College Classes with the Post-90s Undergraduates

On the Brief Exploration of the Cultural Development of College Classes with the Post-90s Undergraduates On the Brief Exploration of the Cultural Development of College Classes with the Post-90s Undergraduates Yue Jia 1 and Niu Yan 2 1 The school of politics and administration, China West Normal University,

More information

The Economic Situations of Export Dependent Guangdong Province And Domestic Demand-Led Chongqing City A Report of a Visit To Guangzhou And Chongqing

The Economic Situations of Export Dependent Guangdong Province And Domestic Demand-Led Chongqing City A Report of a Visit To Guangzhou And Chongqing The Economic Situations of Export Dependent Guangdong Province And Domestic Demand-Led Chongqing City A Report of a Visit To Guangzhou And Chongqing 1. Situation in China s coastal region, as observed

More information

Market opportunities in China. Summary of market research on China for the VET sector

Market opportunities in China. Summary of market research on China for the VET sector Market opportunities in China Summary of market research on China for the VET sector Targeted cities in China Seven locations (eight cities) have been selected as the main targets for the promotion of

More information

Application Research of CMM in Real Estate Entreprise Management

Application Research of CMM in Real Estate Entreprise Management International Journal of Business and Management July, 2009 Application Research of CMM in Real Estate Entreprise Management Linjie Chen Nanjing Institute of Industry Technology Nanjing 210046, China E-mail:

More information

Cultivation of Female Vocational College Students Professionalism

Cultivation of Female Vocational College Students Professionalism Cultivation of Female Vocational College Students Professionalism FENG Duan Sichuan Business Vocational College, 610091 fduanduan@126.com Abstract: With the development of social, women gradually increase

More information

Discussion on Personnel Training Mode of Applied Undergraduates Majoring in International Economic and Trade in Independent Institute*

Discussion on Personnel Training Mode of Applied Undergraduates Majoring in International Economic and Trade in Independent Institute* 1802 Discussion on Personnel Training Mode of Applied Undergraduates Majoring in International Economic and Trade in Independent Institute* Zhu Jinsheng, Lv Du, Zhu Chang, Wang Hongguo Huaxia collage,

More information

, 70.3% 30.7%,

, 70.3% 30.7%, [ ] 30 [ ] ; ; [ ] D64 [ ] A [ ] 1005-8273(2011)11-0037-07 30 ; ( ) ; ( ) 1984 [1] 61.6%(16 30 ) : [2] : ; ; : - 37 - [3] : 90% 5 16 30 61.6% 1 20 80 90 2 GDP ( ) 3 : 47% 30 1747.87 4 (3046.61 ) 57.4%

More information

Focus on China Market and Pursue Sustainable Value Growth

Focus on China Market and Pursue Sustainable Value Growth Focus on China Market and Pursue Sustainable Value Growth (Beginning) Distinguished guests, ladies and gentlemen: Good morning. I 'm Wu Zongmin, from China Pacific Property Insurance Company Limited (CPIC

More information

The Comparison and Analysis about the Old and New Asset Impairment Accounting Standard *

The Comparison and Analysis about the Old and New Asset Impairment Accounting Standard * The Comparison and Analysis about the Old and New Asset Impairment Accounting Standard * LIU Zhibin 1, YANG Yamei 2 1 Economics & Management Department, North China Electric Power University, Baoding,

More information

SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT

SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT Women s Entrepreneurship Support Sector Development Program (RRP ARM 45230) SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT A. Overview 1. Significance of micro, small,

More information

Discussion on Equipment Virtual Archives of Art Colleges Yali Li

Discussion on Equipment Virtual Archives of Art Colleges Yali Li International Conference on Education, Management and Computing Technology (ICEMCT 2014) Discussion on Equipment Virtual Archives of Art Colleges Yali Li Sichuan Conservatory of Music, Chengdu, 610021,

More information

BDO s. Setting up a business in China can. BDO China unlocked

BDO s. Setting up a business in China can. BDO China unlocked china unlocked BDO China unlocked BDO s expertise and international reach Over the last two decades China has firmly put itself on the map as a country in which to invest, to date mainly for Manufacturing

More information

Unable to judge. Credit Rating

Unable to judge. Credit Rating COMPANY SUMMARY Ref. No. Company Name Former Name Operating Address Registered Address CEFC China Energy Company Limited CEFC China Electromechanical Equipment Co., Ltd. (literal translation) (Change Date:2011-08-11)

More information

BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT

BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT Director & Chief Financial Officer Mr. Ding Donghua Chairman & Chief Executive Officer Mr. Wang Xiaochu Vice Chairman & Chief Operating Officer Mr. Li Zhenqun 9 EXECUTIVE DIRECTORS Mr. Wang Xiaochu Mr.

More information

Problems and Countermeasures Existing in Accounting Teaching in Independent College in China

Problems and Countermeasures Existing in Accounting Teaching in Independent College in China Problems and Countermeasures Existing in Accounting Teaching in Independent College in China XIAO Wenfeng City College of Dongguan University of Technology, Dongguan, Guangdong, P. R. China, Xiaofengjg2003@yeah.net

More information

The Economic Outlook of Hong Kong. in the Context of China s 12th Five-Year Plan

The Economic Outlook of Hong Kong. in the Context of China s 12th Five-Year Plan The Economic Outlook of Hong Kong in the Context of China s 12th Five-Year Plan A Speech by Dr Victor Fung to the Students and Professionals at Savantas Liberal Arts Academy 匯 賢 智 庫 學 苑 on 21 May 2011

More information

Errors of Financial Decision-making in Debt Financing Investment Project and the Countermeasures

Errors of Financial Decision-making in Debt Financing Investment Project and the Countermeasures Errors of Financial Decision-making in Debt Financing Investment Project and the Countermeasures ZHU Shengping, FENG Xiaoyan Nanchang Institute of Science & Technology, China, 330018 Abstract: While debt

More information

A Study on Procurement Strategy of Chinese Small and Medium-sized Enterprises

A Study on Procurement Strategy of Chinese Small and Medium-sized Enterprises A Study on Procurement Strategy of Chinese Small and Medium-sized Enterprises LI Hehua, WANG Wanwei School of Economics and Management, Shanghai Second Polytechnic University, Shanghai, P.R. China, 201209

More information

Space Research of China s Industry Structure and Employment Structure Coordination Degree

Space Research of China s Industry Structure and Employment Structure Coordination Degree Theoretical Economics Letters, 2014, 4, 446-456 Published Online June 2014 in SciRes. http://www.scirp.org/journal/tel http://dx.doi.org/10.4236/tel.2014.46056 Space Research of China s Industry Structure

More information

DBS BANK (HONG KONG) LIMITED

DBS BANK (HONG KONG) LIMITED DBS BANK (HONG KONG) LIMITED INTERIM FINANCIAL DISCLOSURE STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2004 TABLE OF CONTENTS Page Unaudited consolidated profit and loss account 2 Unaudited consolidated

More information

Optimized Research on Capital Structure of Listed Companies in Chinese. Real Estate Industry

Optimized Research on Capital Structure of Listed Companies in Chinese. Real Estate Industry 3rd International Conference on Management, Education, Information and Control (MEICI 201) Optimized Research on Capital Structure of Listed Companies in Chinese Real Estate Industry Xinling Du 1, a and

More information

Research on Undergraduate Accounting Education at the Present Stage Based on Questionnaire Survey

Research on Undergraduate Accounting Education at the Present Stage Based on Questionnaire Survey Higher Education of Social Science Vol. 3, No. 2, 2012, pp. 35-39 DOI:10.3968/j.hess.1927024020120302.ZR0215 ISSN 1927-0232 [Print] ISSN 1927-0240 [Online] www.cscanada.net www.cscanada.org Research on

More information

Research on the role of Teaching-research Universities Subject Librarian. in University Library Construction. Guishan Zhang 1,a

Research on the role of Teaching-research Universities Subject Librarian. in University Library Construction. Guishan Zhang 1,a 5th International Conference on Social Science, Education and Humanities Research (SSEHR 2016) Research on the role of Teaching-research Universities Subject Librarian in University Library Construction

More information

China: Trade Facilitation Reform and Economic Development

China: Trade Facilitation Reform and Economic Development China: Trade Facilitation Reform and Economic Development Zhang Yansheng Institute for International Economic Research National Development and Reform Commission Development of China s international trade

More information

China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers

China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China Civil Aviation Report Uniworld, LLC/Francis Chao September 6, 2005. Dublin, Ireland Before 1978, It was a

More information

The Research of Vancl Network Marketing

The Research of Vancl Network Marketing The Research of Vancl Network Marketing WU Zhonghua School of Business Administration, Jiangxi University of Finance and Economics, China, 330013 13870916825@163.com Abstract: In recent years, the garment

More information

Research on the System Construction of the Railway Enterprise Project Contract Management

Research on the System Construction of the Railway Enterprise Project Contract Management doi: 10.14355/ijmser.2015.0202.03 Research on the System Construction of the Railway Enterprise Project Contract Management Qin Yebin Economics and Management School of Wuhan University, Wuhan 430072,

More information

Guangdong Province. By Sophie Lu LUP , 23 th February 2012

Guangdong Province. By Sophie Lu LUP , 23 th February 2012 Guangdong Province By Sophie Lu LUP 011.8-2, 23 th February 2012 Guangdong: highest GDP in China for over 20 years The GDP of Guangdong province ranked first nationwide for 22 consecutive years by 2010,

More information