Table of Content

21 January 2021, Volume 0 Issue 04

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The System Supply of National Governance Modernization in the New Era and the Practice Orientation of People’s Democracy

MA Zhen-jiang

2019, 0(04):  100. 

Asbtract ( 146 )  

References | Related Articles | Metrics

The people’s democracy in the new era is already in the stage of institutional stereotypes. To deepen and implement the value dimension of “people are the masters of the country”, it is inevitable to strengthen their practical orientation in participating in the construction of political institutions and the development of political civilization. As one of the important themes of socialist political development with Chinese characteristics, the current modernization of the national governance can further highlight the era orientation of the organic combination of the legitimacy and effectiveness of people’s democracy, provide institutional supply at a higher level for the realization of its diversity, and will expand the field of daily political life of people’s democracy. To enhance the practice orientation of people’s democracy in the process of modernization of national governance is to give people’s democracy a full play of its unique role in regulating political relations, constructing political order and ensuring national stability and development.

Research on the Influence of Factor Market Distortion on Regional Innovation Efficiency

ZHANG Jian-ping, JIANG Yan, GE Yang

2019, 0(04):  101. 

Asbtract ( 140 )  

References | Related Articles | Metrics

The report of the 19th National Congress of CPC proposes some specific measures to accelerate the construction of an innovative country, among them, the innovation of the scientific and technological system mechanism that corrects the distortion of factor allocation and promotes the transformation of scientific research results is the institutional guarantee for the innovation-driven development strategy. This paper theoretically analyzes the mechanism of the influence of price distortion on the innovation efficiency in the factor market. Taking the 30 provinces in China from 1998 to 2014 as the research object, it applies the stochastic frontier algorithm to measure the innovation efficiency. The findings show that the price distortion in the factor market has inhibited the innovation efficiency. It further divides the 30 provinces into eight economic zones and measures the degree of influence of factor market price distortion on the innovation efficiency of the eight regions respectively. The conclusions indicate that the factor market distortion has different influences on the innovation efficiency of different regions. Among them, the factor price distortion has a significant impact on the innovation efficiency of the five regions, i.e., the northeast, the middle reaches of the Yellow River, the middle reaches of the Yangtze River, Yunnan and the northwest, but less impact on the innovation efficiency of the rest three regions, i.e., the northern, the eastern and southern regions.

Does the Service Industry Present Skill-Biased Technological Advancement? An Empirical Study Based on China’s Provincial Panel Data

LEI Xiao-qing

2019, 0(04):  102. 

Asbtract ( 143 )  

References | Related Articles | Metrics

With the wide application of information technology, capital deepening and technological progress have become the main trends in the development of China’s service industry, and have affected the employment structure of the service industry. This paper makes use of China’s provincial panel data from 2003 to 2015 to conduct an empirical study. The results show that the technological progress of China’s service industry presents skill biased characteristics, that the relative demand for high-skilled labors is increasing, and that the wage income gap between high and low skilled labors is also widening. At the same time, human capital has a significant positive effect on the demand for skills. Opening to the outside world has also promoted the growth of demand for skills in the service industry to a certain extent, and the export effect is greater than the import effect. The impact of technological advances on the skill structure of the service industry is uneven between the regions, it is positive in the eastern region, negative in the central region, and no significant effect in the western region.

Marital Status and Loan Defaults of Borrowers: An Empirical Study Based on the Data from Online Lending Platforms

LIU Hao-hua1, CHEN Chun-hua1,2

2019, 0(04):  103. 

Asbtract ( 146 )  

References | Related Articles | Metrics

The number of problems with P2P online lending platforms in China has been increasing year by year, especially since June 2018, the “mine exploding” phenomena have been seen frequently. An important reason for P2P online lending platforms running into problems is the default of borrowers, so it is significant to study the characteristics of defaulted borrowers for the healthy development of the industry. According to the existing literatures, there is great difference between the divorced and the married. Then, are there any loan default differences between the divorced and the married borrowers? Based on the data from a famous P2P online lending platform -- jiurong.com, this paper employs the ordered multi-classified Logit model, the ordered multi-classified Probit model and other methods to explore the relationship between borrowers’ marital status and loan defaults. In order to study the loan defaults of borrowers more accurately, the degrees of loan defaults are divided into three levels from lower to higher: non-default, general default, and serious default. It is found that the divorced borrowers have higher degree of loan default than the married borrowers.

Does Bank Equity Association Help to Maintain Supplier Relationship Transactions? An Inspection Based on the Perspective of Corporate Internal Control Adjustment

Lin Zhong-gao, JIN Di

2019, 0(04):  104. 

Asbtract ( 127 )  

References | Related Articles | Metrics

Taking the 2007-2016 A-share listed company as the research object, this paper examines for the first time the influence of bank equity association on the enterprises’ supplier relationship transaction and the adjustment effect of internal control from the perspective of the joint-stock banks. The findings show that the joint-stock banks can help to increase the supplier relationship transaction of the enterprises, but there is an inverted U-shaped rise-fall relationship between them and the share-holding ratio, and this kind of relationship will be suppressed to a certain extent in the enterprises with higher internal control quality. The results of further study show that the supplier relationship transaction is more sensitive to national commercial banks than local commercial banks. These indicate that in the transitional economic society, the excessively close relationship between banks and enterprises is not conducive to the maintenance of the supplier relationship transactions, and a sound and effective internal control system can play a significant role in the establishing of corporate relationships, the balancing of the choice of contract structure, and the controlling of the risks.

On the Innovative Governance Model of the Equity Crowd-Funding Companies with the Participation of the Crowd-Funding Platforms

SUN Ya-xian

2019, 0(04):  105. 

Asbtract ( 127 )  

References | Related Articles | Metrics

As a key link in the ecological chain of crowd-funding, crowd-funding platforms and crowd-funding companies should realize their win-win relationship on the basis of fine cooperation. Crowd-funding platforms should participate in corporate governance, expand the extension of corporate governance right, and help companies to find reliable projects and investors. They can take advantage of their network to build platforms for shareholders to participate with open company information, to improve the channels of corporate information, and to increase the efficiency of corporate governance. They can improve the supervision on the crowd-funding companies and provide good protection system for the smooth operation of the companies in the way of assuming the independent director or independent supervisor.

Logical Reflection and Realistic Choice of Constructing Long-Term Care Security System in Present China

LI Zhen, LEI Xian-sheng

2019, 0(04):  106. 

Asbtract ( 111 )  

References | Related Articles | Metrics

The Thirteenth Five-Year Plan proposes to explore and establish the long-term care insurance system. At present, the political and academic discussions focus on how to establish a social long-term care insurance system. The mainstream view believes that with the aggravating of the aging of China’s population and the miniaturization of families, the number of disabled groups is increasing and the family-based care capacity is weakening. At the same time, drawing on the experiences of some foreign countries, it is urgent for China to establish a long-term social care insurance system. This paper attempts to reflect on the above logic of system construction and points out that the methodology of dialectical Materialism and historical Materialism should be instated on, that the actual population size and demands should be the orientation, and that attention should be paid to the ought-to-be logic suitable to the system and the level of economic development. It is suggested that at present China should construct a long-term care security system based mainly on make-up subsidies, that the main responsibilities of governments, families and markets should be rationally allocated, and that some supporting measures should be actively improved, such as the delivery system of caring services, the rating standards for the disability and the service purchase mechanism, etc..

A Study of the Spatial Matching Relationship between China’s Provincial Supporting Resources for Elderly and Aged Population

YIN Zhong-hai, ZHU Tong-yao

2019, 0(04):  107. 

Asbtract ( 161 )  

References | Related Articles | Metrics

The matching relationship between the supporting resources for elderly and the elderly population involves the equalization of the basic old-age services. By employing the matching degree coefficient and deviation degree index, this paper explores the matching relationship between China’s provincial old-age care resources and the elderly population and the distribution characteristics, so as to provide scientific basis for the promotion of the balanced development of basic old-age services. The results show that there is a certain matching relationship between the provincial old-age care resources and the elderly population, but the matching degree is not high. The matching degree of old-age care resources and old-age population presents obvious regional characteristics. The distribution of provincial matching types changes from resource lagging type to resource advancing type; and the difference of matching degree is mainly determined by the share of supporting resources for elderly, while the share of elderly population is in a subordinate position.

On the New Deal of Agricultural Product Price Support and Its Impact on the International Competitiveness of Agriculture

DU Hui

2019, 0(04):  108. 

Asbtract ( 128 )  

References | Related Articles | Metrics

In recent years, the weak support of agricultural development has been weakening the international competitiveness of agriculture in terms of variety, quality and cost, and has resulted in many serious consequences. The minimum purchase price and the temporary purchase and storage policy started from 2004 not only failed to reverse the situation but intensified this trend in the later period of the implementation of such policies. Since 2014, the state has initiated a new round of reform of price support policies for agricultural products. Although it has not completely reversed its competitive disadvantage, it has achieved certain results in strengthening market mechanism, improving trade situation and accelerating agricultural transformation. However, there are such problems as foreign policies with strong technical rationality having reduced the feasibility due to lack of effective support conditions for domestic implementation, the market-oriented reform having triggered the decrease of farmers’ income, and the delaying of the planting structure adjustment caused by the disruption of crop price relation in the early stage of the reform. Next, we need to improve the policy effect and improve the international competitiveness of agriculture by improving the production conditions, consolidating the industrial base, weakening government intervention, strengthening the market role, aiming at cost-saving and quality-improving, preventing trade risks, enhancing the competitiveness of small farmers, strengthening the construction of basic data, and other measures.

Promoting the Organizational Power of Village-Level Party Organizations: Theory, Reality and Realization Path

XIAO Chang-chun, ZHENG Chuan-fang

2019, 0(04):  109. 

Asbtract ( 127 )  

References | Related Articles | Metrics

The organizational power of village-level Party organizations refers to the ability of the village-level Party organizations relying on the village-level self organizational resources and the organizational advantages to guide and mobilize the farmers to carry out the Party’s policies and guidelines, to participate in the village collective social governance, and to promote the village collective reform and development, so as to carry out and implement the Party’s decisions and deployments. To improve the organizational power of village-level Party organizations is an inevitable requirement for upholding the Party’s overall leadership position, and it is related to the long-term stability of Chinese society and the realization of the goal of a socialist modernization power. At present, the organizational power of village-level Party organizations has such problems as insufficient comprehensive and effective coverage of Party members, insufficient capacity of the Party organizations, and insufficient play of the core role of the Party’s leadership, etc.. When vigorously improving the organizational strength of village-level grassroots Party organizations, it is necessary to avoid blurring of organizational force, prevent weakening of organizational power and inhibit the marginalization of organizational power.

The Content of Auditing Spiritual Culture at the Revolutionary Bases and Its Contemporary Enlightenment

ZHU Ling-tong1, HU Zhi-yong2

2019, 0(04):  110. 

Asbtract ( 130 )  

References | Related Articles | Metrics

The auditing practice at the revolutionary bases under the leadership of the Communist Party of China has produced a valuable auditing spiritual culture, which includes six aspects of the contents: hard work, diligence and thrift, meticulousity and immaculateness, adherence to principles and courage, seeking truth from facts, and advocating learning. Among them, hard work and diligence and thrift are the foundation, meticulousity and immaculateness, adherence to principles and courage are the key, and to seeking truth from facts and advocating learning are the safeguard. The auditing spiritual culture at the revolutionary bases reduced the agency costs, guaranteed the wartime supply, and made significant contributions to the victory of the revolutionary war. The auditing spiritual culture at the revolutionary base area is part of the red culture, which can enlighten the construction of auditing culture of the socialist country with Chinese characteristics in the new era: carrying forward the arduous struggle style, opposing the “four winds”, not forgetting the original intentions, persisting in the beliefs, courageously acting, persisting in seeking truth from facts, serving the national governance, strengthen learning and improving capabilities.

Discussion on the Terms of Recognition in the New Individual Income Tax Law

LI Qiao-yu

2019, 0(04):  111. 

Asbtract ( 160 )  

References | Related Articles | Metrics

In order to realize the general levy on income, the financial department of the State Council has filled the legal loopholes in the identification of income of the Individual Income Tax Law through the application of the save clause of “the other incomes determined by the financial department of the State Council”, so as to form a loophole filling model of “the financial departments + the save clause”. After the deletion of the above-mentioned provisions through legislation, although the financial departments can continue the aforementioned model by expanding the application of the “accidental income”clause, they should resort to the new model, because the application effect of the old is contrary to the concept of the tax reform. The new model should be based on the different characteristics of the two loopholes and the legitimacy of the filling subject, so as to construct different paths that can simultaneously implement the principles of tax statutory and fairness. Specifically, the tax-deficient loophole should only be filled by the legislators in the way of revision, while the limited loophole of concept definition should be filled with the “financial department + tax item clause” model, and supervision mechanism should be perfected from the three aspects of benchmark control, program control and legislative control.

A Study of Reconstruction of Stock Issuing Standards under the Registration System: Based on the Analysis of the Conflicts between Registered Issuing and Relevant Listing Rules

WU Wen-yong, YU Xue-yang

2019, 0(04):  112. 

Asbtract ( 119 )  

References | Related Articles | Metrics

The key to the reform of stock issuance registration system is to open the market access, simplify the issuance procedures, improve the issuance efficiency and endow the fair rights of stock financing to the enterprises. However, when the standard of stock issuance and the substantive examination right of the regulators are canceled by law, the government protection of investors at the stage of stock issuance will be weakened objectively. Therefore, in order to protect the interests of investors, maintain the stability of securities markets and safeguard the market competition order, while weakening the issuance review, laws should be applied to strengthen the premarket notification and value judgment of shares, set up standards for share floatation and institutional rules different from those under the model of issuance checking against the characteristics of registered issuance, endow the substantive examination right and choice right to the stock exchanges, and realize the complementary screening of the stock value issued by registration through a series of mandatory and flexible index and strict rules, so as to prevent the flaws, risks and frauds ignored during the process of issuing from extending to the trading period.

Narrative Interpretation in British and American Literary Works: A Review of The Study of Narrative Theory in English and American Literature

DU Ying

2019, 0(04):  113. 

Asbtract ( 117 )  

Related Articles | Metrics

The System Supply of National Governance Modernization in the New Era and the Practice Orientation of People’s Democracy

MA Zhen-jiang

2019, 0(04):  126. 

Asbtract ( 126 )  

References | Related Articles | Metrics

The people’s democracy in the new era is already in the stage of institutional stereotypes. To deepen and implement the value dimension of “people are the masters of the country”, it is inevitable to strengthen their practical orientation in participating in the construction of political institutions and the development of political civilization. As one of the important themes of socialist political development with Chinese characteristics, the current modernization of the national governance can further highlight the era orientation of the organic combination of the legitimacy and effectiveness of people’s democracy, provide institutional supply at a higher level for the realization of its diversity, and will expand the field of daily political life of people’s democracy. To enhance the practice orientation of people’s democracy in the process of modernization of national governance is to give people’s democracy a full play of its unique role in regulating political relations, constructing political order and ensuring national stability and development.

Research on the Influence of Factor Market Distortion on Regional Innovation Efficiency

ZHANG Jian-ping, JIANG Yan, GE Yang

2019, 0(04):  127. 

Asbtract ( 103 )  

References | Related Articles | Metrics

The report of the 19th National Congress of CPC proposes some specific measures to accelerate the construction of an innovative country, among them, the innovation of the scientific and technological system mechanism that corrects the distortion of factor allocation and promotes the transformation of scientific research results is the institutional guarantee for the innovation-driven development strategy. This paper theoretically analyzes the mechanism of the influence of price distortion on the innovation efficiency in the factor market. Taking the 30 provinces in China from 1998 to 2014 as the research object, it applies the stochastic frontier algorithm to measure the innovation efficiency. The findings show that the price distortion in the factor market has inhibited the innovation efficiency. It further divides the 30 provinces into eight economic zones and measures the degree of influence of factor market price distortion on the innovation efficiency of the eight regions respectively. The conclusions indicate that the factor market distortion has different influences on the innovation efficiency of different regions. Among them, the factor price distortion has a significant impact on the innovation efficiency of the five regions, i.e., the northeast, the middle reaches of the Yellow River, the middle reaches of the Yangtze River, Yunnan and the northwest, but less impact on the innovation efficiency of the rest three regions, i.e., the northern, the eastern and southern regions.

Does the Service Industry Present Skill-Biased Technological Advancement? An Empirical Study Based on China’s Provincial Panel Data

LEI Xiao-qing

2019, 0(04):  128. 

Asbtract ( 121 )  

References | Related Articles | Metrics

With the wide application of information technology, capital deepening and technological progress have become the main trends in the development of China’s service industry, and have affected the employment structure of the service industry. This paper makes use of China’s provincial panel data from 2003 to 2015 to conduct an empirical study. The results show that the technological progress of China’s service industry presents skill biased characteristics, that the relative demand for high-skilled labors is increasing, and that the wage income gap between high and low skilled labors is also widening. At the same time, human capital has a significant positive effect on the demand for skills. Opening to the outside world has also promoted the growth of demand for skills in the service industry to a certain extent, and the export effect is greater than the import effect. The impact of technological advances on the skill structure of the service industry is uneven between the regions, it is positive in the eastern region, negative in the central region, and no significant effect in the western region.

Marital Status and Loan Defaults of Borrowers: An Empirical Study Based on the Data from Online Lending Platforms

LIU Hao-hua1, CHEN Chun-hua1,2

2019, 0(04):  129. 

Asbtract ( 128 )  

References | Related Articles | Metrics

The number of problems with P2P online lending platforms in China has been increasing year by year, especially since June 2018, the “mine exploding” phenomena have been seen frequently. An important reason for P2P online lending platforms running into problems is the default of borrowers, so it is significant to study the characteristics of defaulted borrowers for the healthy development of the industry. According to the existing literatures, there is great difference between the divorced and the married. Then, are there any loan default differences between the divorced and the married borrowers? Based on the data from a famous P2P online lending platform -- jiurong.com, this paper employs the ordered multi-classified Logit model, the ordered multi-classified Probit model and other methods to explore the relationship between borrowers’ marital status and loan defaults. In order to study the loan defaults of borrowers more accurately, the degrees of loan defaults are divided into three levels from lower to higher: non-default, general default, and serious default. It is found that the divorced borrowers have higher degree of loan default than the married borrowers.

Does Bank Equity Association Help to Maintain Supplier Relationship Transactions? An Inspection Based on the Perspective of Corporate Internal Control Adjustment

Lin Zhong-gao, JIN Di

2019, 0(04):  130. 

Asbtract ( 112 )  

References | Related Articles | Metrics

Taking the 2007-2016 A-share listed company as the research object, this paper examines for the first time the influence of bank equity association on the enterprises’ supplier relationship transaction and the adjustment effect of internal control from the perspective of the joint-stock banks. The findings show that the joint-stock banks can help to increase the supplier relationship transaction of the enterprises, but there is an inverted U-shaped rise-fall relationship between them and the share-holding ratio, and this kind of relationship will be suppressed to a certain extent in the enterprises with higher internal control quality. The results of further study show that the supplier relationship transaction is more sensitive to national commercial banks than local commercial banks. These indicate that in the transitional economic society, the excessively close relationship between banks and enterprises is not conducive to the maintenance of the supplier relationship transactions, and a sound and effective internal control system can play a significant role in the establishing of corporate relationships, the balancing of the choice of contract structure, and the controlling of the risks.

On the Innovative Governance Model of the Equity Crowd-Funding Companies with the Participation of the Crowd-Funding Platforms

SUN Ya-xian

2019, 0(04):  131. 

Asbtract ( 110 )  

References | Related Articles | Metrics

As a key link in the ecological chain of crowd-funding, crowd-funding platforms and crowd-funding companies should realize their win-win relationship on the basis of fine cooperation. Crowd-funding platforms should participate in corporate governance, expand the extension of corporate governance right, and help companies to find reliable projects and investors. They can take advantage of their network to build platforms for shareholders to participate with open company information, to improve the channels of corporate information, and to increase the efficiency of corporate governance. They can improve the supervision on the crowd-funding companies and provide good protection system for the smooth operation of the companies in the way of assuming the independent director or independent supervisor.

Logical Reflection and Realistic Choice of Constructing Long-Term Care Security System in Present China

LI Zhen, LEI Xian-sheng

2019, 0(04):  132. 

Asbtract ( 119 )  

References | Related Articles | Metrics

The Thirteenth Five-Year Plan proposes to explore and establish the long-term care insurance system. At present, the political and academic discussions focus on how to establish a social long-term care insurance system. The mainstream view believes that with the aggravating of the aging of China’s population and the miniaturization of families, the number of disabled groups is increasing and the family-based care capacity is weakening. At the same time, drawing on the experiences of some foreign countries, it is urgent for China to establish a long-term social care insurance system. This paper attempts to reflect on the above logic of system construction and points out that the methodology of dialectical Materialism and historical Materialism should be instated on, that the actual population size and demands should be the orientation, and that attention should be paid to the ought-to-be logic suitable to the system and the level of economic development. It is suggested that at present China should construct a long-term care security system based mainly on make-up subsidies, that the main responsibilities of governments, families and markets should be rationally allocated, and that some supporting measures should be actively improved, such as the delivery system of caring services, the rating standards for the disability and the service purchase mechanism, etc..

A Study of the Spatial Matching Relationship between China’s Provincial Supporting Resources for Elderly and Aged Population

YIN Zhong-hai, ZHU Tong-yao

2019, 0(04):  133. 

Asbtract ( 124 )  

References | Related Articles | Metrics

The matching relationship between the supporting resources for elderly and the elderly population involves the equalization of the basic old-age services. By employing the matching degree coefficient and deviation degree index, this paper explores the matching relationship between China’s provincial old-age care resources and the elderly population and the distribution characteristics, so as to provide scientific basis for the promotion of the balanced development of basic old-age services. The results show that there is a certain matching relationship between the provincial old-age care resources and the elderly population, but the matching degree is not high. The matching degree of old-age care resources and old-age population presents obvious regional characteristics. The distribution of provincial matching types changes from resource lagging type to resource advancing type; and the difference of matching degree is mainly determined by the share of supporting resources for elderly, while the share of elderly population is in a subordinate position.

On the New Deal of Agricultural Product Price Support and Its Impact on the International Competitiveness of Agriculture

DU Hui

2019, 0(04):  134. 

Asbtract ( 107 )  

References | Related Articles | Metrics

In recent years, the weak support of agricultural development has been weakening the international competitiveness of agriculture in terms of variety, quality and cost, and has resulted in many serious consequences. The minimum purchase price and the temporary purchase and storage policy started from 2004 not only failed to reverse the situation but intensified this trend in the later period of the implementation of such policies. Since 2014, the state has initiated a new round of reform of price support policies for agricultural products. Although it has not completely reversed its competitive disadvantage, it has achieved certain results in strengthening market mechanism, improving trade situation and accelerating agricultural transformation. However, there are such problems as foreign policies with strong technical rationality having reduced the feasibility due to lack of effective support conditions for domestic implementation, the market-oriented reform having triggered the decrease of farmers’ income, and the delaying of the planting structure adjustment caused by the disruption of crop price relation in the early stage of the reform. Next, we need to improve the policy effect and improve the international competitiveness of agriculture by improving the production conditions, consolidating the industrial base, weakening government intervention, strengthening the market role, aiming at cost-saving and quality-improving, preventing trade risks, enhancing the competitiveness of small farmers, strengthening the construction of basic data, and other measures.

Promoting the Organizational Power of Village-Level Party Organizations: Theory, Reality and Realization Path

XIAO Chang-chun, ZHENG Chuan-fang

2019, 0(04):  135. 

Asbtract ( 125 )  

References | Related Articles | Metrics

The organizational power of village-level Party organizations refers to the ability of the village-level Party organizations relying on the village-level self organizational resources and the organizational advantages to guide and mobilize the farmers to carry out the Party’s policies and guidelines, to participate in the village collective social governance, and to promote the village collective reform and development, so as to carry out and implement the Party’s decisions and deployments. To improve the organizational power of village-level Party organizations is an inevitable requirement for upholding the Party’s overall leadership position, and it is related to the long-term stability of Chinese society and the realization of the goal of a socialist modernization power. At present, the organizational power of village-level Party organizations has such problems as insufficient comprehensive and effective coverage of Party members, insufficient capacity of the Party organizations, and insufficient play of the core role of the Party’s leadership, etc.. When vigorously improving the organizational strength of village-level grassroots Party organizations, it is necessary to avoid blurring of organizational force, prevent weakening of organizational power and inhibit the marginalization of organizational power.

The Content of Auditing Spiritual Culture at the Revolutionary Bases and Its Contemporary Enlightenment

ZHU Ling-tong1, HU Zhi-yong2

2019, 0(04):  136. 

Asbtract ( 91 )  

References | Related Articles | Metrics

The auditing practice at the revolutionary bases under the leadership of the Communist Party of China has produced a valuable auditing spiritual culture, which includes six aspects of the contents: hard work, diligence and thrift, meticulousity and immaculateness, adherence to principles and courage, seeking truth from facts, and advocating learning. Among them, hard work and diligence and thrift are the foundation, meticulousity and immaculateness, adherence to principles and courage are the key, and to seeking truth from facts and advocating learning are the safeguard. The auditing spiritual culture at the revolutionary bases reduced the agency costs, guaranteed the wartime supply, and made significant contributions to the victory of the revolutionary war. The auditing spiritual culture at the revolutionary base area is part of the red culture, which can enlighten the construction of auditing culture of the socialist country with Chinese characteristics in the new era: carrying forward the arduous struggle style, opposing the “four winds”, not forgetting the original intentions, persisting in the beliefs, courageously acting, persisting in seeking truth from facts, serving the national governance, strengthen learning and improving capabilities.

Discussion on the Terms of Recognition in the New Individual Income Tax Law

LI Qiao-yu

2019, 0(04):  137. 

Asbtract ( 115 )  

References | Related Articles | Metrics

In order to realize the general levy on income, the financial department of the State Council has filled the legal loopholes in the identification of income of the Individual Income Tax Law through the application of the save clause of “the other incomes determined by the financial department of the State Council”, so as to form a loophole filling model of “the financial departments + the save clause”. After the deletion of the above-mentioned provisions through legislation, although the financial departments can continue the aforementioned model by expanding the application of the “accidental income”clause, they should resort to the new model, because the application effect of the old is contrary to the concept of the tax reform. The new model should be based on the different characteristics of the two loopholes and the legitimacy of the filling subject, so as to construct different paths that can simultaneously implement the principles of tax statutory and fairness. Specifically, the tax-deficient loophole should only be filled by the legislators in the way of revision, while the limited loophole of concept definition should be filled with the “financial department + tax item clause” model, and supervision mechanism should be perfected from the three aspects of benchmark control, program control and legislative control.

A Study of Reconstruction of Stock Issuing Standards under the Registration System: Based on the Analysis of the Conflicts between Registered Issuing and Relevant Listing Rules

WU Wen-yong, YU Xue-yang

2019, 0(04):  138. 

Asbtract ( 115 )  

References | Related Articles | Metrics

The key to the reform of stock issuance registration system is to open the market access, simplify the issuance procedures, improve the issuance efficiency and endow the fair rights of stock financing to the enterprises. However, when the standard of stock issuance and the substantive examination right of the regulators are canceled by law, the government protection of investors at the stage of stock issuance will be weakened objectively. Therefore, in order to protect the interests of investors, maintain the stability of securities markets and safeguard the market competition order, while weakening the issuance review, laws should be applied to strengthen the premarket notification and value judgment of shares, set up standards for share floatation and institutional rules different from those under the model of issuance checking against the characteristics of registered issuance, endow the substantive examination right and choice right to the stock exchanges, and realize the complementary screening of the stock value issued by registration through a series of mandatory and flexible index and strict rules, so as to prevent the flaws, risks and frauds ignored during the process of issuing from extending to the trading period.

Narrative Interpretation in British and American Literary Works: A Review of The Study of Narrative Theory in English and American Literature

DU Ying

2019, 0(04):  139. 

Asbtract ( 92 )  

Related Articles | Metrics