CHINA AT A NEW STAGE OF ECONOMIC REFORM

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Источник: Asia and Africa Today, # 7.31 July 2015 Pages 47-52

Keywords: China, scientific conference, Institute of the Far East of the Russian Academy of Sciences, economic reform, results of 2014, industry and regional problems

In March 2015, the Institute of the Far East of the Russian Academy of Sciences hosted the annual scientific conference of the Center for Socio-Economic Research of China (CEC) on the topic "China at a new stage of economic reform".

In the report "The results of the Chinese economy in 2014: recession or structural reforms?", Deputy Head of the Ministry of Foreign Affairs of the Republic of China. A.V. Ostrovsky, Director of the Institute of Economic Development of the Russian Academy of Sciences, Head of the Central Economic Commission of China, Doctor of Economics, Professor, described the main results of the economic and social development of the national economy of China in 2014, the 4th year of the 12th Five-year plan (2011-2015).

According to the State Fiscal Service of the People's Republic of China, GDP growth was 7.4% - the lowest rate since 2001, while the planned GDP growth for 2015 is 7%. On this basis, a number of experts claim the end of the " Chinese miracle "and that China has fallen into the"middle income trap". Nevertheless, macroeconomic indicators are still preferable to those in most industrialized countries. At the same time, according to the IMF, in 2014, China ranked 1st in the world in terms of GDP at purchasing power parity.

Due to the proportions that have developed in recent years between economic growth, structural changes and increased employment, annual GDP growth of 7% provides for the creation of more than 10 million new jobs in cities and towns. In practice, it is quite possible to achieve even better results due to the intensification of reforms and structural regulation.

The main direction of state policy in 2014 was the anti-corruption campaign announced by Xi Jinping. In total, 232 thousand people were subject to party and administrative penalties in 2014, which is 30% more than in 2013. On suspicion of corruption, 28 high-ranking officials at the ministerial and provincial levels and above were put under investigation.

One of the key decisions was made in January 2015. Politburo of the CPC Central Committee "State Security Strategy Programs". Work continued to expand the powers of local authorities and self-government.

China is confidently achieving its planned economic indicators while maintaining the proportions of development of individual industries. In 2014, inflation was only 2%. The rate of savings on deposits of the population is very high (75% of GDP in 2014, 1/3 is accounted for by the rural population). Almost 2/3 of the volume of retail trade turnover is accounted for by the population of cities and towns, while recently the average per capita income of the rural population has been growing faster than the urban one, which contributes to the growth of the domestic market and the expansion of the social base of economic development. In 2014, the level of urbanisation reached 54.7%. Over the 4 years of the 12th five-year plan, 51 million new jobs were created. The number of rural migrants totaled 273 million, including 170 million. They live and work in urban areas (as low-skilled workers), while 103 million people live in rural areas, but work outside the rural economy. The average life expectancy is 74.5 years (higher than in Russia). Unemployment in 2014 was 4.1%. Despite income differentiation, the standard of living of the population has grown significantly. Thus, in 2014, the city had 32.9 square meters of living space per person, and in rural areas - 37.1 square meters (in 1978 - 4.4 and 8.4 square meters). m, respectively).

The speaker noted that the current risks to the Chinese economy were discussed at the 3rd session of the 12th National People's Congress (NPC) held in March 2015 and previous workshops on economics and agriculture in 2012-2014.

External risks are the global financial crisis and difficulties with increasing external demand. But exports in all sectors have increased significantly. Internal risks include: 1) demographic - a decrease in the working-age population. In this regard, the basic principle of the demographic policy "one family - one child" was changed to "one family - two children"; 2) lack of energy resources (primarily oil and gas); 3) environmental-pollution of the natural environment (for example, Beijing has now declared a "yellow" level of environmental danger); 4) the need to accelerate changes in the model of development of the national economy, the development of new driving forces. China refuses to grow its economy at any cost. Lower GDP growth is designed to save the country from excessive environmental pollution.

A.V. Ostrovsky identified three key tasks of socio-economic development of the People's Republic of China:

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2015-ensuring the country's food security, curbing debt risks and improving people's lives.

The latter task, in turn, involves solving the following problems:: 1) development of a master plan for the reform of the income system of the population; 2) creation of a compensation system for the withdrawal of land plots from peasants; 3) provision of 100% old-age social insurance for the urban and rural population (currently there are only 100 million people in the village). social health insurance coverage); 4) providing assistance to lagging districts; 5) increasing the share of state budget expenditures on education to 4%.

The directives of the 12th five-year plan provided for an increase in the share of spending on research and development (R & D) in GDP-from 2% in 2010 to 2.2% in 2015. However, despite a significant increase in R & D expenditures, in 2014 their share in GDP remained at the level of 2013 (2.09%).

The section" General problems "with a report on" Finding solutions to the main problems of the new stage of economic reform in the PRC " was opened by Doctor of Economics E. P. Pivovarova (this author's article will be published in No. 8 of our journal).

The speaker stressed that the main tasks of the new stage of economic reform in the PRC, called "decisive", the leaders of the fifth generation of the Chinese leadership, Xi Jinping and Li Keqiang, at the last official forums of the country, called the reform of the fiscal and financial system, the income distribution system and"decisive movement towards social justice". However, in an overpopulated and poorly resourced country, these tasks are much more difficult to solve than those that were solved in the previous decades of market transformations in the PRC. Major changes will be required in almost all the innovations that were implemented in the course of market reforms that affected not only the economic life, but also the social system of the country. The search for ways to "harmonize" in order to achieve reliable stability in Chinese society will require extraordinary solutions.

According to the speaker, the long and rather successful experience of market reform in China will help the Chinese leadership to find such solutions. At the same time, the new stage of reforms should not be described as a stage of "accelerating transformation", as it has sometimes been done and continues to be done at historically significant milestones of Chinese reforms. Today we are talking about a "comprehensive deepening of reforms", which implies both a certain expansion of market principles, and, most importantly, strengthening and improving macro-regulation and macro-control.

O. N. Borokh" New Normality with Chinese characteristics "and considered the concept of"new normality". This concept, formulated by the leadership of the People's Republic of China in 2014, is based on the fact that in the current economic situation there are not only hidden risks, but also great potential opportunities for the development of the Chinese economy. It highlights such features as the planned transition from high to medium economic growth rates, optimization of the structure of the economy, where the demand for manufactured products comes first.

The service sector in the structure of China's GDP reached 46%, equaling the manufacturing sector. In recent years, China has not carried out large-scale measures to stimulate the economy, while the country's leadership has a large set of macro-regulatory tools in its arsenal. Additional reserves for economic growth are also being sought, based on the transfer of decision-making powers to a lower level.

Ph. D. in Economics Z. L. Muromtseva in her report "General and special features of the fourth stage of public sector reform in China" noted that the reform of state-owned enterprises has been carried out for more than three and a half decades, but only in the last decade the 4th stage of reform (since 2004) is regarded as a "turning point". This stage, referred to as "restructuring the management of state assets and improving the modern system of enterprises", is aimed at expanding public-private partnership, improving public management of state capital and increasing the share of deductions from its income invested in enterprises of central subordination.

Candidate of Economic Sciences E. S. Bazhenova in her report "Urbanization in the western regions of China as an important factor in their development" stressed that since the implementation of the Program for the Development of Western regions of China, urbanization there has developed rapidly. By the end of 2012, the share of the urban population was 44.9% (an increase of 16% since 2000). Three urban agglomerations were formed: Chengdu-Chongqing, Guan-zhong-Tianyunui (south prov. Gansu-Hexi Corridor) and Beibuwan-coastal zone of the Guangxi Zhuang Autonomous Region. However, the level of urbanisation in Western China is still below the national average. The proportion of urban population in the eastern, Northeast, central, and western regions of China is 52.6%, 56.4%, 53.4%, and 44.9%, respectively. There is also a large differentiation in the level of urbanization in the western regions-from the maximum level of 58.34% in Chongqing to the lowest level of 37.63% in Guizhou in 2013. The share of urban residents in Guizhou, Yunnan and Gansu provinces is about 40% or lower.

Urbanization in western China faces many challenges, including: difficulties in integrating the migrating masses of the population into the urban community; land alienation in rural areas; and poor distribution and management of urbanization.

Doctor of Economics L. V. Novoselova in her report "Actual aspects of inter-budgetary relations at the present stage of economic reforms in the PRC" (to be published in Issue 10 of the journal) focused on the fact that the financial system reform is the most important area of economic transformation planned by the Chinese leadership in the near future.

The task is set to ensure a significant increase in the role of

page 48

market mechanisms in resource allocation and economic development. A comprehensive financial reform is planned to be implemented no later than 2020. In 2014, the country's leadership adopted a series of important decisions aimed at improving the efficiency and regularity of the budget process, as well as improving inter-budget relations.

The new version of the Budget Law (August 2014) established a mechanism for managing and controlling local government debt, increased transparency requirements for the budget process, limited the scope of special financial transfers from the central government to regional authorities, strengthened the control functions and powers of the NPC in relation to budget formation and execution, and approved the responsibilities of the People's Bank of China in as a manager of the state Treasury.

The capacity of provincial authorities to finance the local economy has been significantly expanded, including through the independent issuance and repayment of long-term bond loans. According to the speaker, this should help to solve the long-standing problem of lack of financial resources and huge debts of local governments on a market basis.

In the report "E - commerce-new horizons of the Chinese economy"A.V. Pikover noted that, according to the China Center for E-Commerce Studies, as of mid-2014, the total volume of transactions in China's e-commerce reached 5.85 trillion yuan, an increase of 34.5% over the year, including in the B2B sector (Business to Business). Business) - 4.5 trillion yuan (an increase of 32.4%), in the online retail sector-1.08 trillion yuan (an increase of 43.9%).

In the structure of e-commerce in 2014, the B2B sector accounted for 76.9%, the retail transactions sector accounted for 18.5%, and the remaining sectors accounted for only 4.1%. As of June 2014, the number of people directly employed in the e-commerce industry exceeded 2.5 million; indirectly related to the industry-more than 17.2 million people.

Against the background of rapidly developing multi-level and multidimensional informatization, the role of e-commerce is rapidly growing in all spheres of the economy. Areas that were not previously covered by informatization are involved in it through new methods and levers such as 020 (Online2Offline). Online payment systems are actively developing.

In the report of Candidate of Political Science P. B. Kamennov"China in the world arms market", it was emphasized that China is one of the largest importers of weapons, taking the 2nd place in the world (to be published in No. 11 of our magazine).

In 2004, the peak of supplies from Russia to China was $2 billion. However, at present, the range of supplies from Russia to China has decreased by 21%. Russian arms exports to China have good prospects, but the growing capabilities of the Chinese military-industrial complex, the diversification of forms of cooperation, and the solution of problems of protecting Russian intellectual property need to be taken into account. In Chinese imports, after the decline in 2005 - 2011, associated with attempts to establish the production of weapons on their own, there was a resumption of the trend towards the purchase of large quantities of weapons in Russia.

Agreements have been reached for the supply of SU-35 fighter jets, S-400 Triumph anti-aircraft missile systems, Amur-class submarines from Russia in 2015, and the possibility of supplying IL-76 transport aircraft is being worked out.

As an exporter, China is stepping up its efforts to expand its geography and increase its own-made arms shipments. Currently, this is mainly the supply of technologically simple weapons to African countries. The share of China in the world arms market in 2009-2013 was 6% (4th place), Russia - 27% (2nd place). In the future, due to the completion of the modernization of the military-industrial complex, China may seriously compete with Russia in certain segments of the global arms market."

In his report "China and the ASEAN countries are building a Euro-Asian Transport Highway", PhDS. L. Sazonov pointed out that, being the largest foreign trade partner of the ASEAN countries, China is also the main donor of regional infrastructure development.

At the sub-regional level, highways will be built with the help of Chinese investments in the Southeast Asian countries, to the main regional ports. This will increase the flow of export cargo from China and Southeast Asian countries to the countries of ASEAN, the Middle East and Africa. The joint railway network of China and Southeast Asian countries, which is being built with the financial assistance of China, and the latitudinal Pan-Asian high-speed railway (China-Laos-Vietnam-Cambodia-Thailand-Malaysia-Singapore) will become the starting point of the second Eurasian transport highway in the future. The 14,000 km long railway route will pass through the territory of 18 countries.

The speaker noted that China's sales of railway rolling stock abroad reached $14 billion. The new Silk Road project is designed to boost the growth of the Chinese economy, and therefore provides for the creation of the Asian Infrastructure Investment Bank with a total amount of $163 billion, as well as the creation of the Silk Road Fund with a capital of $40 billion, which will form a strong financial support for the construction of the transport route.

In the final report of the first section of the conference "New Sources of Chinese Investment Growth Abroad"T. G. Terentyeva emphasized that China continues to actively implement the "Go Abroad" strategy1. In 2014, the volume of non-financial direct investment exceeded $100 billion for the first time. However, in recent years, there has been a downward trend in the growth rate of external direct investment. In order to further stimulate the export of capital, a new version of the "Rules for Regulating Foreign Investments" came into force on October 6, 2014.-

page 49

which introduced for the first time provisions on the possibility of registration not only in the permissive, but also in the notification procedure.

According to the speaker, new sources of growth in external investment flow will be the implementation of the Silk Road economic Belt strategy, as well as an increase in investment in joint energy projects with Russia.

The second section of the conference - "Industry and regional problems" opened with the report of Dr. L. D. Boni"China's Agriculture: towards a new development model?"2

The speaker stressed that the entry of the Chinese economy into the "new paradigm" stage of development was marked by the decision of the leadership to accelerate the development of agricultural modernization and transformation of its growth model. The potential of the current extensive growth model, which provided relatively successful development of the industry due to the maximum use of scarce natural resources and environmental pollution, cheap labor and state investment, was completely exhausted. The previous policy of supporting the agricultural sector, which is tied to the WTO's "yellow basket" principles, no longer justifies itself.

It is necessary to overcome the challenges that have stood in the way of the industry's development: a structural shortage of labor, low labor productivity of small-scale production in the contract yard (1/7 of that in the 1st sphere), a drop in the share of farmers ' income from agriculture (less than 1/4 in 2013), high production costs, a drop in the competitiveness of agricultural products on the world market, and a sharp increase in of import. Special attention will be paid to overcoming the catastrophic state of rural ecology.

The Chinese leadership associates the search for new growth factors with accelerating the transition to an intensive mode of production, with its emphasis on quality and efficiency, restructuring production, developing an enlarged (large-scale) economy, strengthening the role of the market, improving the rural environment by deepening reforms and systemic innovations in the agricultural sector.

In the report "On the issue of regulating land relations in the Chinese countryside in the new conditions", Candidate of Economic Sciences L. A. Volkov states that the "new normal state of the economy" implies an improvement in the quality of economic growth. The most important way to achieve this in the field of agriculture is to regulate land relations in order to increase production efficiency.

The speaker stressed that the land plot received by a farmer under a contract can now be leased and used as collateral. In the country, it is difficult to maintain the established total area of agricultural land, and the relocation of farmers will increase the area of arable land, which makes it possible to use large-scale equipment. Management and administrative committees are set up at the county level to manage the lease and transfer of land to large farms. At the same time, the land is in collective ownership, and no change in the form of ownership is expected.

E. I. Kranina, Ph. D. in Economics, made a report on "China at a new stage of environmental legal regulation"3. The speaker noted that 2015 marked the third and key stage in the comprehensive deepening, reform and legal regulation of China's environmental security principles, which is based on the transition from a policy of focusing on economic growth to sustainable development, based on an understanding of the relationship between man and nature. At this stage, in the course of the development of the legal system in the field of environmental protection, the most important importance is attached not so much to new legislation as to the mandatory implementation of previously adopted laws.

On April 24, 2014, the National People's Congress adopted a number of amendments to the Law "On Environmental Protection", which introduce direct and unlimited material liability for violators. These amendments have been effective since the beginning of 2015. A new system of environmental regulation has been established, which provides for reducing the level of pollution of natural resources, introducing clean technologies into production and introducing the principles of "green taxation". In addition, a new system of market-based environmental payments for emissions (including sulfur dioxide, nitrogen dioxide, and other pollutants), a package of regulations for specific greenhouse gas emissions, and an internal emissions trading scheme are being developed.

N. K. Koledenkova"Economic Reform and development of the Central regions of China" notes that the XVIII Congress of the CPC (November 2012) recognized the need to pay more attention to the balanced development of regions at the current stage of economic reform.

Particular importance is attached to the development of Central China, which is a large industrial and agricultural region of the country. The main tasks set by the congress are the creation of modern agriculture with an emphasis on growing grain crops; the development of the electric power industry and raw materials industries; and improving the competitive industrial structure, which includes high-tech industries and an integrated transport and logistics system. At the same time, priority is given to the development of the "new economy" with an emphasis on environmentally friendly energy sources, environmental protection and improving the competitiveness of industrial sectors and the economy as a whole.

Ph. D. T. V. Lazareva in her report "Sustainable socio-economic development of national regions in recent years" noted significant rates of economic and agricultural development in areas where national minorities live. Investments in fixed assets are growing, infrastructure and transport are actively developing. Funds are invested in the construction of airports, irrigation, and other facilities that contribute to the development of production. Despite a marked increase in the incomes of urban and rural populations in the national regions, the share of the poor population is still growing.

page 50

It is still high, as is the large development gap between China's national and eastern regions. All this is one of the key risks of instability.

The State provides financial assistance to low-income families, including on public holidays. The social insurance system is gradually developing, for which up to 44 billion rubles are allocated annually. RMB. The cultural and educational level of national minorities has increased. Various kinds of environmental programs have been developed in areas where ethnic minorities live compactly - the creation of forest plantations continues, and work is underway to counteract land desertification.

N. S. Plessky (Far Eastern Federal University, Vladivostok) in his report "Regional differentiation of poverty in modern China" presented the results of assessing the level of depth and severity of poverty in China based on the calculation of the Gini coefficient and a synthetic poverty indicator. This method allows us to identify regional differences in the quality of life of the poor population of China. Based on the results of the study, a map and characteristics of the country's regions are compiled, and the main causes and problems of regional development are identified. Special attention was paid to the socio-economic situation and development prospects of areas where poverty is concentrated.

The speaker noted that more than 1 million people in China still belong to the poor population. The Gini coefficient, according to the State Statistical Service of the People's Republic of China, was 0.474 in 2013, and according to Peking University, it reaches 0.74, i.e. it differs significantly from the official data. The lowest level of poverty is in the coastal provinces of China, and the highest - in the mountainous regions of the country, hard-to-reach areas. According to the presented statistical indicators, the poorest province is Guizhou. At the same time, China has managed to overcome absolute poverty.

In the report of Ph. D. V. V. Chuvankova" Development of small business in China at a new stage of economic reform (based on the results of the 3rd National Economic Census)", it was noted that in the last decade in China, the activities of small and microenterprises have sharply intensified, their economic potential has increased, the scope and geography of production interests have expanded. The emphasis on the development of small and microenterprises is primarily due to the problem of ensuring self-employment of the population in the context of slowing growth of the Chinese economy.

The speaker noted that small and microenterprises account for 94% of the total number of enterprises in the country (over 60 million, about 75% - microenterprises). According to the current regulatory criteria, medium-sized enterprises include enterprises that employ less than 1 thousand people. employees and an annual income of less than 400 million yuan. Small businesses are defined as organizations with fewer than 100 employees and an annual income of less than 20 million yuan; microenterprises are defined as organizations with a staff of about 10 people and an income of less than 1 million yuan per year.

The industrial structure of small and micro enterprises is dominated by wholesale and retail trade (35%), industry (30%), leasing and business services (10%). The industry structure of microenterprises is dominated separately by wholesale and retail trade (50%), transport, warehousing and communications (27%), hotel services and public catering (7.3%).

Candidate of Historical Sciences O. V. Pochagina in her report "Features of the family budget structure in modern China" emphasized that in the context of declining economic growth, the increase in domestic consumption is considered by the Chinese leadership as an important factor in the progressive development of the economy and further raising the standard of living of the population. The structure of the family budget is a key indicator of the standard of living of the average family and the features of economic behavior of its members and is formed both under the influence of macroeconomic factors and the quantitative and qualitative characteristics of each individual family.

In recent years, the share of savings in the structure of the Chinese family budget exceeds 30% of income (such a high figure is due to both socio-cultural factors and the need for good education, own housing, high-quality medical and patronage services). The three largest items of expenditure (each accounting for more than 10%) include: 1) food expenses; 2) housing and utilities; 3) travel and leisure. New types of consumption patterns are being formed among the younger generation, and the so-called majority membership effect is playing an increasingly important role. At the same time, the growth of income and consumption is accompanied by a deepening of the processes of economic and social differentiation of Chinese families.

Candidate of Economic Sciences I. V. Bakhrushin in his report "Development of the Stock market of the People's Republic of China at a new stage of economic reform" noted that in 2014 125 initial Public offerings (IPOs) were held on the stock exchanges of the People's Republic of China, the total volume of which amounted to 78.7 billion rubles. RMB. This figure is slightly lower than in 2012 - 154 placements and 103.4 billion rubles. RMB, respectively. 94 IPOs worth $ 47.1 billion were held on the A-stock market. RMB, as well as 609 repurchases of shares worth $ 677.8 billion. RMB.

In 2014, the IPO market actually operated for only six months (in 2013-early 2014, there was a moratorium on IPOs). Since June, the Securities Control Committee (regulator) has approved seven groups of candidate companies. Despite this, there are more than 600 companies on the list of IPO candidates waiting for their applications to be considered.

The share of the Shanghai Stock Exchange (SHSE) in the IPO market in 2014 was 43%, the market of medium and small companies (SME Board) and the market of fast-growing innovative companies (ChiNext) of the Shenzhen Stock Exchange accounted for 29 and 28%, respectively. In 2014, the SSE index grew by more than 50%, with the fourth quarter being the most successful.

2014 total value of IPOs held on the Hong Kong Stock Exchange

page 51

on the Stock Exchange (SSE), it amounted to $28 billion. (the best performance since 2010). An important development was the opening of a direct investment channel between the SSE and the SSE, through which mainland Chinese investors can purchase shares on the SSE within the established quotas, and Hong Kong players can buy shares on the SSE, respectively.

O. V. Lin in his report "The banking sector and shadow banking in the light of the financial reform in China" pointed out that in the course of the reform, China's banking institutions are forced to adapt to new business conditions. The liberalization of deposit rates, the tightening of measures to combat shadow banking operations, the development of securitization tools, the easing of restrictions on the interbank foreign exchange market, the development of deposit insurance principles - all this has an impact on the resource base of banks, and, consequently, on their ability to lend to the economy.

One of the key risks to the stability of the banking sector is shadow banking, which has reached a colossal size in China - 27 trillion yuan (about 40% of GDP).

In order to replenish the banking sector's liquidity, the People's Bank of China conducted a series of key rate cuts (two cuts in the first quarter of 2015 alone). As part of the overall process of financial market liberalization, possible principles for the development of private banking are being developed. In 2016, an initial public offering of shares in the IPO of the Postal Savings Bank of China, which has the largest number of branches across the country, is planned. According to the speaker, this IPO may become the largest in the world. The volume of credit operations of non-bank financial intermediaries, including trust funds, is gradually increasing.

K. A. Petrunko in the report "Rapid development of civil aviation in China" noted that civil aviation is the most dynamically developing branch of the transport complex in China. Over the past 10 years, the number of passengers transported has increased 4 times, the volume of cargo transported-3.5 times, passenger turnover-three times, cargo turnover-four times. China has become the second largest passenger air transportation market in the world after the United States. In the period 2005-2010. the total volume of capital investments in the industry amounted to 950 billion rubles. RMB. According to the" Transport Development Program for the 12th five-year Plan (2011-2015)", the total investment in the development of civil aviation in China will amount to 1.5 trillion yuan.

About 90% of flights to China are carried out by six leading interregional airlines, while the three largest companies (China Eastern Airlines, Air China, China Southern Airlines) account for 72.8% of passenger traffic and about 75% of industry revenues.

Candidate of Law V. I. Balakin in his report "The role of China in the formation of regional "production chains" in East Asia" noted that in the course of increasing integration processes in the East Asian region, the Chinese leadership began to actively encourage the transfer of manufacturing of individual production components to the less developed economic states of East Asia. However, despite the peculiar diversification of production capacities, Chinese companies everywhere introduce the formation of sustainable "production chains" into industrial practice, while maintaining full quality control of the final product. The steps taken allowed the PRC to start implementing the long-cherished idea of ensuring its industrial dominance in the East Asian region.

At present, the PRC is not eliminated from the production of products at the initial stage; in any East Asian country, Chinese firms continue to maintain strict control over the entire industrial cycle-from the extraction of raw materials to the final product. At the same time, the final assembly of the manufactured goods takes place on Chinese territory, from where it is mainly exported to regional and world markets.

M. P. Kharchenko, Assistant Executive Secretary of the Russian Historical Society, Ph. D. in History, concluded the conference with the report "Strategy for the Development of China's Regional Priorities in Central Asia and the problem of China's Energy Security". The speaker stressed that the Chinese leadership pays great attention to energy security, given the importance of uninterrupted supply of energy resources for maintaining the economic and socio-political situation in the country. The resources currently supplied from Central Asia (CA) are certainly not able to replace the volumes of supplies carried out by the States of the Middle East and the Persian Gulf. However, the strategic position of Central Asia and its connecting role between China and the Persian Gulf will continue to determine Beijing's continued interest in the Central Asian states.

According to the speaker, the use of the territorial position of Central Asia and the transit of energy resources through its territory will allow the PRC to become less dependent on the sea transport corridors under the control of the United States.

The review was prepared by I. V. VAKHRUSHIN, Candidate of Economic Sciences, Institute of the Far East, Russian Academy of Sciences


1 For more information, see: Terentyeva T. G. China. Further development of the strategy "going abroad" / / Asia and Africa Today. 2015, N 3 (Terentieva T.G. 2015. KNR. Dalneishee razvitie strategii "vykhod za rubezh" // Aziya i Afrika Segodnya. N 3) (in Russian)

2 For more information, see: Boni L. D. Kitai: na puti k novoi modeli razvitiya sel'skogo khozyaistva [China: on the way to a new model of agricultural development]. 2014, N 11, 12 (Boni L.D. 2014. Kitai: na puti к novoi modeli razvitiya selskogo khozyaistva // Aziya i Afrika Segodnya. N 11, 12) (in Russian)

3 For more information, see: Kranina E. I. Problemy ekologicheskoy bezopasnosti Kitay [Problems of environmental safety in China]. 2015, N 3 (Kranina E.I. 2015. Problemy ekologocheskoi bezopasnosti Kitaya // Aziya i Afrika Segodnya. N 3) (in Russian)


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