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《Nanjing Journal of Social Sciences》 2013-05
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Excess Capacity with Chinese Characteristics, Its Forming Mechanism and Countermeasures: A Case Study of China's Steel Industry since the Year 1996

Chen Shengyong & Sun Shiqi  
For Chinese economy,excess capacity is a pitfall lasts for years.In recent years,excess capacity not only causes some traditional industries mired in losses,such as steel,cement,electrolytic aluminum and coal chemical industry,but also leads such industries as solar-grade polycrystalline silicon and wind power equipment into recession,which once were considered as "emerging industries".Excess capacity with Chinese characteristics and its forming mechanism are attributed to versatile government mandatory intervention in markets and micro-economy field for many years,assessment index system in government of GDP growth and its corresponding incentive mechanism for officials' promotion,and the deep-rooted localism tradition in Chinese tradition and history.Therefore,the previous method of macro-control that characterized by executive power mandatory intervention in markets must be abandoned;assessment index system in government and incentive mechanism for officials' promotion should be improved;and reconstruction of political and economical system,perfection of market system and promotion of governance should be put into practice.Only in this way can we eradicate the excess capacity with Chinese characteristics,and achieve the transformation and upgrading of economic structure.
【CateGory Index】: F426.31
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