金融支持与新兴产业发展文献综述及外文文献资料.docx

1、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: Agricultural Project Finance and Support Policies: The Framework of Major Agricultural Subsidies作者: Bermouna, Soumaya; Li, Junrong期刊: European Food and Feed Law Review卷: 9；期:3；页: 171-178；年份: 2014Agricultural Project Finance and Support Policies:

2、 The Framework of Major Agricultural SubsidiesI. IntroductionIf you discuss agriculture with a Chinese person, he or she will be proud to say that China feeds almost 20% of the worlds population with only 7% of the worlds potable water and 8% of the worlds arable land. However, one of the major chal

3、lenges China faces today is the depopulation of rural areas. To encourage farmers to stay on the land, the government provides subsidies and invests in rural infrastructure. This article discusses the instruments that are in place to protect and support the agricultural sector and assesses them agai

4、nst Chinas World Trade Organization (WTO) commitments. This article contributes an overview of the developments in Chinas agricultural subsidy policies and expenditures on some of its major agricultural subsidy programs: Subsidy for the purchase of agricultural machinery and the improved seed variet

5、y program. In conclusion, a critical overview is given with regard to the future consequences and tendencies of Chinas Agricultural subsidy scheme.II. Chinas Agricultural support policiesChina can be considered a leading example of a developing country that has shifted from taxing to supporting its

6、agricultural sector. During the early 2000s, Chinese officials began a broad program of agricultural support that included tax reductions, direct subsidies, price supports, policy loans, expenditure on infrastructure, and intergovernmental transfers. Since then, agricultural support programs have ex

7、panded rapidly in size and scope. Documents outlining policies and strategies, such as the countrys 5-year plan for 2011-15 and the central authorities 2014 Number 1 Document,1 calls for rural reform, developing modern agriculture and maintaining agriculture as the foundation of Chinas economy.1. Hi

8、storical outlookThe Chinese economy has long been characterized by discrimination against agriculture arising from government policies, many of which date back to pre-socialist times. The government either taxed agriculture explicitly or set commodity prices below market-determined levels.3 The agri

9、cultural sector is a part of Chinas major industries, and the agricultural tax is therefore of the national finance. The government collected an agricultural tax called Gong Liang from the legal entities or individuals who engaged in agricultural production or gained income from agriculture. After t

10、he founding of the Peoples Republic of China (PRC) in 1949, the first regulation regarding agricultural tax, the Regulations for the Agricultural Tax of the Peoples Republic of China, was approved on the 3rd of June 1958 in the first National Peoples Congress Executive Committee 96thmeeting.By the 1

11、970s, evidence had mounted that the government interventions were not effective. Poor economic performance, a stagnating agricultural sector and intensifying political pressure forced the country to accept much-needed agricultural policy reforms within the broader context of economic reforms that st

12、artedin1978. The agricultural reform measures were generally designed to reduceor eliminate price controls and state controlled marketing. After several years of regional experiments, the Chinese Central Government and State Council issued the No. 1 Document in 2004 that provides key Central Governm

13、ent policy guidelines on agriculture and rural development. The government began to eliminate the agricultural tax on farmers and introduced two main subsidies: direct payment to grain producers and unimproved seed subsidy. Further, some cities conducted an experiment in which they offered a partial

14、 rebate for farm machinery purchases. In the annual government work report for 2006 to the countrys top legislature, the former would be abolished throughout the country. From then on, the agricultural tax became history.2. DevelopmentAt theWorldTradeOrganizationsDohaRoundin2001, many developing nat

15、ions - including Brazil, China and India - opposed agricultural subsidies in the US and the EU. They argued that the high subsidies were artificially driving down global crop prices, unfairly undermining small farmers and maintaining poverty in many developing countries. In the same period China imp

16、lemented the new food policy in 2001, creating certain areas as market sales areas, eliminating the purchases of fixed quantities from farmers as well as price controls, and establishing others as protected production areas, in which more interventionist policies are maintained.7 Although China cons

17、iders itself a developing country member of the WTO, it is not eligible for the same treatment as other developing countries. A de minims agricultural support limit of 8.5 percent of the total agricultural output value applies to China instead of 10%. The subsidy limit resulted from the so-called U.

18、S.-China Bilateral WTO Agreement, a compromise reached in June 2001 between the United States and China. Consequently, Chinas 2001WTOaccession agreement set relatively low agricultural tariffs and placed limits on domestic agricultural support that were stricter than those for developing countries b

19、ut less strict than those for developed countries. During the years leading up to its WTO accession, China had eliminated many of the price distortions that had characterized its agricultural markets in earlier decades.III. Policy Objectives & InstitutionsSustaining food security has always been one

20、 of the most important goals for governments at all levels in China. How do the major financial support policies work and how and who governs them?Chinas major policy objectives related to agriculture for 2014 are to deepen agricultural reform and accelerate agricultural modernization; improve the m

21、echanisms for safeguarding food security; seek sustainable agricultural growth while balancing rural and urban development; deepen rural land reforms and promoting financial support for rural areas. 9Hereto related the current Chinas 12th Five-Year Plan (2011-15) focuses on the following aspects: 1)

22、 farmers and countryside, 2) grain production capacity - to exceed 540 million tons per year and to sustain at least 95% self-sufficiency, 3) increasing rural households incomes, 4) improving food safety, 5) enhancing environmental protection, and 6) increasing agricultural competitiveness and impro

23、ving social and technical infrastructure in rural areas.10 The rural economy is at the centre of Chinas 12th Five-Year Plan, which aims at rebalancing growth through narrowing rural-urban gaps and promoting rural-urban integration. Improving rural welfare and boosting rural income are viewed as crit

24、ical to enhancing domestic demand.In 2012, Chinas Ministry of Finance reported that budgeted spending for agricultural production rose to USD 76 billion (EUR 55 billion). The program shown in Figure 1 accounted for about half of that total. Othermajor expenditures includedUSD9.8 billion (EUR 7.1 bil

25、lion) for subsidized loans and storage of commodities and USD 17.3 billion (EUR 12.5 billion) for irrigation and water projects and on farm infrastructure spending.11 Figure 1 shows a significant increase in Chinas expenditures on major agricultural subsidy programs in the period 2004 (shortly after

26、 WTO accession) - 2012.Financial subsidy policies are executed by a wide variety of programs supporting development of the agricultural infrastructure, including irrigation and drainage facilities. Figure 2 shows the development of subsidy expenditure on these areas. The growth in subsidy payments t

27、o Chinese farmers reflects the strategy of increasing subsidies annually. The improved- seed subsidy was increased tenfold to USD 3.4 billion (EUR 2.5 billion) by adding more crops and extending the geographic coverage of the program. The machinery-purchase subsidy was increased by an even greater m

28、argin, reaching USD 3.1 billion (EUR 2.28 billion) in 2012. Hereinafter these systems and the way they are governed will be discussed.IV. Subsidy for the purchase of agricultural machineryChinas agricultural machinery purchase subsidy policy, which started in 2004, has significantly stimulated the p

29、urchase of machinery by farmers, promoted the growth of agricultural mechanization and increased yields, farming efficiency and farmers incomes. 12-13 Zhong14 said that agricultural machinery purchase subsidy should be imperative and enlarged in China. The popularization of agricultural machinery is

30、 of crucial importance to the Chinese path towards becoming an agricultural power. During the second session of the 11thNPC, former Chinese Prime Minister Wen first proposed in the governments work report that the scheduled agricultural machinery purchase subsidy amounts to CNY 13 billion (EUR 1.5 b

31、illion) and would cover all agricultural fields nationwide.The state council executive meeting, held in 2008, resolved that CNY 10 billion (EUR 1.16 billion) will be granted by the Central Government to the agricultural machinery purchase subsidy in 2009. Zong Jinyao, the director of the agricultura

32、l mechanization division of the agriculture ministry, said that the additional CNY 3 billion (EUR 0.35 billion) in 2009 would help to further meet farmers desires to buy more machinery and, at the same time, stimulate the development of the agricultural machinery industry, which yields multiple bene

33、fits. Both the Ministry of Agriculture (MoA) and the Ministry of Finance (MoF) would follow the original scheme to allocate as soon as possible the subsidy nationwide.In China, two main reasons for farmers to purchase machinery are to facilitate large-scale operations and to offer custom services to other