Bulletin Autumn‧Winter 1996

China's National Economic Accounting System The objective is to build a macroeconomic data bank for the PRC b y d r aw i ng up detailed accounts of the national income, an input-output table, a flow-of-funds table, a balance-of-payments table, and a national assets and liabilities table. By presenting data s y s t ema t i c a l ly a n d c o m p r e h e n s i v e l y, inherent e c o n om ic variables a nd their interrelations can be elucidated. A Thorough Quantitative and Qualitative Analysis of the Key Is sues Facing the Chinese Economy The key issues in question include cost structure and price, industrial structure and e c o n om ic g r ow t h, h u m an capital a nd e c o n o m i c d e v e l o p m e n t, i n f l a t i o n, unemployment, agricultural development and f o od security, foreign trade and its regime, fiscal system, banking and capital market’ natural resources and environment, and social security. Mode rn econometric techniques w i ll be applied to the analysis of data i n the macroeconomic data bank. An Integrated System of National Income Accounts for Natural Resources and the Environment The existing national economic accounting system contains only produced economic assets. Researchers w i l l try to enlarge the system to cover non-produced economic assets, i.e., n a t u r al r e s o u r c es a n d environmental assets. The former includes oil reserves, land use in agriculture, and livestock management and utilization, while the latter includes air, water (also ground water loss), soil erosion, and forests. By establishing an integrated national income accounting system for natural resources and e n v i r o nme n t al assets, researchers can further analyse micro issues such as the depletion and reevaluation of oil reserves ， the appraisal of land use, soil and water conservation, deforestation, and air and water pollution. Pa rt o f t he W o r l d E c o n o my China's impressive economic development in recent years is indicative of the enormous potential of its economy. In analysing the status quo as we ll as in planning for the future, scientific methodology w i ll not only c o n t r i b u t e to t he s e t t i ng u p of t he appropriate economic system but also to China's intergration into the international economy. • Re f e r ences ( Bo o ks o n l y ) In Englis h [1] Chan, Chun-kwong, Hsueh ， Tien-tung & Luk, Ch i u -m i ng (eds.), China's Regional Economic Development Ho ng Kong ： Ho ng Kong Institute of Asia-Pacific Studies, The Chinese U n i v e r s i ty of H o n g K o n g , 1996, Research Monograph No. 30 ， 460pp. [2] H s u e h, Tien-tung, Patterns of Guangdong Development in the 1980s ( Ma n u s c r i p t, p r e p a r ed f o r publication). [3] Hsueh, Tien-tung & Li, Qiang (eds.), China's National Income in Theory and Practice (in progress). [4] Hsueh, Tien-tung, Li, Q i ang & Liu Shucheng (eds.), China's Provincial Statistics, 1949-1989, B o u l d e r, Colorado, USA & Summertown, Oxford, UK ： Westview Press, 1993 ， 595 pp. [5] Hsueh, Tien-tung, Sung, Yun-wing & Yu , J i n g y u an ( ed s . ), Studies on Economic Reforms and Development in the People's Republic of China, Ho ng Kong ： The Chinese University Press & New York ： St. Martin's Press, 1993, 372 pp. Chinese University Bulletin Autumn . Winter 1996 30