金融支持与新兴产业发展文献综述及外文文献资料.docx

金融支持与新兴产业发展文献综述及外文文献资料.docx

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金融支持与新兴产业发展文献综述及外文文献资料

本份文档包含：

关于该选题的外文文献、文献综述

一、外文文献

标题:

AgriculturalProjectFinanceandSupportPolicies:

TheFrameworkofMajorAgriculturalSubsidies

作者:

Bermouna,Soumaya;Li,Junrong

期刊:

EuropeanFoodandFeedLawReview

卷:

9；期:

3；页:

171-178；年份:

2014

AgriculturalProjectFinanceandSupportPolicies:

TheFrameworkofMajorAgriculturalSubsidies

I.Introduction

IfyoudiscussagriculturewithaChineseperson,heorshewillbeproudtosaythatChinafeedsalmost20%oftheworld'spopulationwithonly7%oftheworld'spotablewaterand8%oftheworld'sarableland.However,oneofthemajorchallengesChinafacestodayisthedepopulationofruralareas.Toencouragefarmerstostayontheland,thegovernmentprovidessubsidiesandinvestsinruralinfrastructure.ThisarticlediscussestheinstrumentsthatareinplacetoprotectandsupporttheagriculturalsectorandassessesthemagainstChina'sWorldTradeOrganization（WTO）commitments.ThisarticlecontributesanoverviewofthedevelopmentsinChina'sagriculturalsubsidypoliciesandexpendituresonsomeofitsmajoragriculturalsubsidyprograms:

Subsidyforthepurchaseofagriculturalmachineryandtheimprovedseedvarietyprogram.Inconclusion,acriticaloverviewisgivenwithregardtothefutureconsequencesandtendenciesofChina'sAgriculturalsubsidyscheme.

II.China'sAgriculturalsupportpolicies

Chinacanbeconsideredaleadingexampleofadevelopingcountrythathasshiftedfromtaxingtosupportingitsagriculturalsector.Duringtheearly2000s,Chineseofficialsbeganabroadprogramofagriculturalsupportthatincludedtaxreductions,directsubsidies,pricesupports,policyloans,expenditureoninfrastructure,andintergovernmentaltransfers.Sincethen,agriculturalsupportprogramshaveexpandedrapidlyinsizeandscope.Documentsoutliningpoliciesandstrategies,suchasthecountry's5-yearplanfor2011-15andthecentralauthorities'2014"Number1Document",1callsforruralreform,developingmodernagricultureandmaintainingagricultureasthefoundationofChina'seconomy.

1.Historicaloutlook

TheChineseeconomyhaslongbeencharacterizedbydiscriminationagainstagriculturearisingfromgovernmentpolicies,manyofwhichdatebacktopre-socialisttimes.Thegovernmenteithertaxedagricultureexplicitlyorsetcommoditypricesbelowmarket-determinedlevels.3TheagriculturalsectorisapartofChina’smajorindustries,andtheagriculturaltaxisthereforeofthenationalfinance.Thegovernmentcollectedanagriculturaltaxcalled"GongLiang"fromthelegalentitiesorindividualswhoengagedinagriculturalproductionorgainedincomefromagriculture.AfterthefoundingofthePeople'sRepublicofChina（PRC）in1949,thefirstregulationregardingagriculturaltax,the"RegulationsfortheAgriculturalTaxofthePeople'sRepublicofChina",wasapprovedonthe3rdofJune1958inthefirstNationalPeople'sCongressExecutiveCommittee96thmeeting.

Bythe1970s,evidencehadmountedthatthegovernmentinterventionswerenoteffective.Pooreconomicperformance,astagnatingagriculturalsectorandintensifyingpoliticalpressureforcedthecountrytoacceptmuch-neededagriculturalpolicyreformswithinthebroadercontextofeconomicreformsthatstartedin1978.Theagriculturalreformmeasuresweregenerallydesignedtoreduceoreliminatepricecontrolsandstatecontrolledmarketing.

Afterseveralyearsofregionalexperiments,theChineseCentralGovernmentandStateCouncilissuedthe"No.1Document"in2004thatprovideskeyCentralGovernmentpolicyguidelinesonagricultureandruraldevelopment.Thegovernmentbegantoeliminatetheagriculturaltaxonfarmersandintroducedtwomainsubsidies:

directpaymenttograinproducersandunimprovedseedsubsidy.Further,somecitiesconductedanexperimentinwhichtheyofferedapartialrebateforfarmmachinerypurchases.Intheannualgovernmentworkreportfor2006tothecountry'stoplegislature,theformerwouldbeabolishedthroughoutthecountry.Fromthenon,theagriculturaltaxbecamehistory.

2.Development

AttheWorldTradeOrganization'sDohaRoundin2001,manydevelopingnations-includingBrazil,ChinaandIndia-opposedagriculturalsubsidiesintheUSandtheEU.Theyarguedthatthehighsubsidieswereartificiallydrivingdownglobalcropprices,unfairlyunderminingsmallfarmersandmaintainingpovertyinmanydevelopingcountries.InthesameperiodChinaimplementedthenewfoodpolicyin2001,creatingcertainareasasmarketsalesareas,eliminatingthepurchasesoffixedquantitiesfromfarmersaswellaspricecontrols,andestablishingothersasprotectedproductionareas,inwhichmoreinterventionistpoliciesaremaintained.7AlthoughChinaconsidersitselfadevelopingcountrymemberoftheWTO,itisnoteligibleforthesametreatmentasotherdevelopingcountries.A'deminims'agriculturalsupportlimitof8.5percentofthetotalagriculturaloutputvalueappliestoChinainsteadof10%.Thesubsidylimitresultedfromtheso-called"U.S.-ChinaBilateralWTOAgreement",acompromisereachedinJune2001betweentheUnitedStatesandChina.Consequently,China's2001WTOaccessionagreementsetrelativelylowagriculturaltariffsandplacedlimitsondomesticagriculturalsupportthatwerestricterthanthosefordevelopingcountriesbutlessstrictthanthosefordevelopedcountries.DuringtheyearsleadinguptoitsWTOaccession,Chinahadeliminatedmanyofthepricedistortionsthathadcharacterizeditsagriculturalmarketsinearlierdecades.

III.PolicyObjectives&Institutions

SustainingfoodsecurityhasalwaysbeenoneofthemostimportantgoalsforgovernmentsatalllevelsinChina.Howdothemajorfinancialsupportpoliciesworkandhowandwhogovernsthem?

China'smajorpolicyobjectivesrelatedtoagriculturefor2014areto"deepenagriculturalreformandaccelerateagriculturalmodernization;improvethemechanismsforsafeguardingfoodsecurity;seeksustainableagriculturalgrowthwhilebalancingruralandurbandevelopment;deepenrurallandreformsandpromotingfinancialsupportforruralareas.9

HeretorelatedthecurrentChina's12thFive-YearPlan（2011-15）focusesonthefollowingaspects:

1）farmersandcountryside,2）grainproductioncapacity-toexceed540milliontonsperyearandtosustainatleast95%self-sufficiency,3）increasingruralhouseholds'incomes,4）improvingfoodsafety,5）enhancingenvironmentalprotection,and6）increasingagriculturalcompetitivenessandimprovingsocialandtechnicalinfrastructureinruralareas.10TheruraleconomyisatthecentreofChina's12thFive-YearPlan,whichaimsatrebalancinggrowththroughnarrowingrural-urbangapsandpromotingrural-urbanintegration.Improvingruralwelfareandboostingruralincomeareviewedascriticaltoenhancingdomesticdemand.

In2012,China'sMinistryofFinancereportedthatbudgetedspendingforagriculturalproductionrosetoUSD76billion（EUR55billion）.TheprogramshowninFigure1accountedforabouthalfofthattotal.OthermajorexpendituresincludedUSD9.8billion（EUR7.1billion）forsubsidizedloansandstorageofcommoditiesandUSD17.3billion（EUR12.5billion）forirrigationandwaterprojectsandonfarminfrastructurespending.11Figure1showsasignificantincreaseinChina'sexpendituresonmajoragriculturalsubsidyprogramsintheperiod2004（shortlyafterWTOaccession）-2012.

Financialsubsidypoliciesareexecutedbyawidevarietyofprogramssupportingdevelopmentoftheagriculturalinfrastructure,includingirrigationanddrainagefacilities.Figure2showsthedevelopmentofsubsidyexpenditureontheseareas.ThegrowthinsubsidypaymentstoChinesefarmersreflectsthestrategyofincreasingsubsidiesannually.Theimproved-seedsubsidywasincreasedtenfoldtoUSD3.4billion（EUR2.5billion）byaddingmorecropsandextendingthegeographiccoverageoftheprogram.Themachinery-purchasesubsidywasincreasedbyanevengreatermargin,reachingUSD3.1billion（EUR2.28billion）in2012.Hereinafterthesesystemsandthewaytheyaregovernedwillbediscussed.

IV.Subsidyforthepurchaseofagriculturalmachinery

China'sagriculturalmachinerypurchasesubsidypolicy,whichstartedin2004,hassignificantlystimulatedthepurchaseofmachinerybyfarmers,promotedthegrowthofagriculturalmechanizationandincreasedyields,farmingefficiencyandfarmers'incomes.12-13Zhong14saidthatagriculturalmachinerypurchasesubsidyshouldbeimperativeandenlargedinChina.ThepopularizationofagriculturalmachineryisofcrucialimportancetotheChinesepathtowardsbecominganagriculturalpower.Duringthesecondsessionofthe11thNPC,formerChinesePrimeMinisterWenfirstproposedinthegovernment'sworkreportthatthescheduledagriculturalmachinerypurchasesubsidyamountstoCNY13billion（EUR1.5billion）andwouldcoverallagriculturalfieldsnationwide.

Thestatecouncilexecutivemeeting,heldin2008,resolvedthatCNY10billion（EUR1.16billion）willbegrantedbytheCentralGovernmenttotheagriculturalmachinerypurchasesubsidyin2009.ZongJinyao,thedirectoroftheagriculturalmechanizationdivisionoftheagricultureministry,saidthattheadditionalCNY3billion（EUR0.35billion）in2009wouldhelptofurthermeetfarmers'desirestobuymoremachineryand,atthesametime,stimulatethedevelopmentoftheagriculturalmachineryindustry,whichyieldsmultiplebenefits.BoththeMinistryofAgriculture（MoA）andtheMinistryofFinance（MoF）wouldfollowtheoriginalschemetoallocateassoonaspossiblethesubsidynationwide.

InChina,twomainreasonsforfarmerstopurchasemachineryaretofacilitatelarge-scaleoperationsandtooffercustomservicestoother