China is country which has seen great changes in its economic environment since its inception. China is one of the oldest civilizations in the world today. Time to time it has seen booms and declines in its economy.
Chinese economy is recognized as the sixth largest economy in the world…
Based on the current exchange rate of RMB 8.28 yuan to one U.S. dollar, China is now the sixth largest economy in the world. Based on purchasing-power parity, it is the third largest economy after the United States and Japan. All this has taken place during a relatively short time. In fact, one can argue that true economic reform in China only started in the early 1980s.' - [M.W. LUKE CHAN, WENDY ROTENBERG]
The Chinese economic environment had shown rapid progress during 1991-1997, it could be said that China experienced double digit GDP growth. However, from 1997 and so on there were economic crisis, yet, the Chinese GDP continued to grow at a rapid rate of 7.8%.
Transparency and good supremacy have been the foundation issues observed in the post-crisis years, both in the circumstance of the 1997 monetary difficulties and the recent series of commercial scandals. This suits the accounting and audit profession where efforts have largely focused on "harmonizing standards" within APEC and ASEAN as well as for greater transparency and disclosure.
The Chinese financial catastrophe showed that insufficient accounting practices and lack of transparency in financial information still prevail in the region. Usual accounting may no longer adequately reflect the necessary information from the position of regulatory and internal corporate control. Strengthening of accounting and auditing function to properly manage risks is one major task to make the private sector and government agencies competitive and free from corruption.
In an internationalized economy, up-to-date accounting and auditing knowledge and skills are the basic institutional infrastructure for private enterprises as well as government agencies to promote good corporate governance and sound public management. The need for transparent information has been heightened, particularly in the situation of managing risks involved. Main challenges for the DMCs are to develop transparent and sound accounting practices to properly manage and regulate the private sector including banks.
An overview of the economic framework in China:
The economic system of China is based on the Interbank Lending Market, the negotiable instruments market and the Treasury bond repurchase market.
A nationwide unified interbank lending computer network was put into operation on a trial basis on January 3, 1996. The interbank lending market was not integrated preceding this date. The establishment of unified interbank market helped in connecting all interbank markets through out the nation.
A negotiable instruments market consists of commercial papers as their main instrument. Commercial paper activity started in China in 1981. Since 1981, commercial paper market developed gradually. The acceptance, rediscount and discount process of commercial paper has become standardized.
Commercial bills are also another instrument used in China. It has increased drastically in the past few years. Also, the discount and rediscount maturities have increased rapidly providing the funding needs of the national industry development policies and credit policies to flow.
Repurchase Transactions - Open Market Operations:
The central bank got involved into the ...
Cite this document
(“Regulatory and Economic environment Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/301402-regulatory-and-economic-environment
(Regulatory and Economic Environment Essay Example | Topics and Well Written Essays - 1500 Words)
“Regulatory and Economic Environment Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/miscellaneous/301402-regulatory-and-economic-environment.
Essay on Regulatory Theory Essay on Regulatory Theory Many state owned telecom units were privatized during last 10-20 years and the sector was set free in most part of the world when it was necessary in view of the advancement in science and technology. Since then as a natural consequence, the telecommunication sector throughout the world has undergone a major change in its structure from the erstwhile monopolistic regime to the one made of competitive forces.
What are the legal issues in this case? If you were the judge, how would you rule? Mongo is the parent company of SAMCO, a subsidiary company based in Saudi Arabia carrying out a contractual dealing on an industrial city in the country. In its contract with SAMCO, the Royal Commission retained the right to get rid of, or change any personnel contracted by SAMCO at its own discretion.
Essay on Regulatory Theory By [Name of Student] [Name of Institution] 2003 Words [Date] Introduction The last three decades have realised quite remarkable reforms in the telecommunication sector, more so concerning the quality and variety of services offered by telecommunication service providers.
However, there is the posing challenge of competition. Like in any industry, competition is one of the factors that exist in business and the manner through which the various players decide to handle this matters a lot. For any new market to have the interest of Brought Kitchens in mind, one major factor to put to put into consideration is the aggressiveness of the company in the market.
For instance, through competition companies have been able to come with new innovation in a bid to satisfy the rapidly changing and dynamic market that exist currently in the United Kingdom. However, in this paper we are limited to the oil industry and consequently the oil market in the United Kingdom.
The average per capita income in Sweden is currently at 20,828 or 280,746 Swedish Kroner (SEK). The United Kingdom is a member of the G8, with the fifth largest economy in the world. It ranks third in population among the European Union states. (EU). What are some similarities and differences in Sweden and the United Kingdoms' regulatory economic structure How does Sweden maintain its economic structure, yet still manages to maintain positive cultural development
According to Porter Five Forces Analysis (2004), factors that influence the proceedings of a business do not come solely from economic conditions, but social and political changes as well. For instant, changes of regulatory policies from local government or a phenomenon that involves 'social shift' could drive a corporation to its success or bankruptcy.
These influences can be categorized in the following ways.
The political and economic factor: India has a liberal-democratic political system. The prices, output, demand and supply are all decided in the market place. Though the government does not interfere in each and every aspect, it sets regulatory framework in a few aspects of the market place and corporate behavior.
This paper discusses the transformation of United Arab Emirates from a local Middle East trading outpost to becoming a center for international business. Analyses of the recent trade and investment reforms in the country reveal that international businesspeople continue to flock into UAE because of the prevailing comfortable business environment.
Moving with the times has been one major strategy while others expand at every available opportunity. Ryanair is one such airline that has expanded significantly since 1985 (Ryanair 2010). The 2000s for Ryanair have been years of success and have gone down in
14 Pages(3500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Regulatory and Economic environment for FREE!