Contracting, Leasing, and Selling All Unprofitable Enterprises

Yang Haitian and Chang Xiuze

Chinese Economy, 1988, vol. 22, issue 2, 95-104

Abstract: With the deepening of urban economic restructuring, two problems have become increasingly significant. One is the rapid expansion of consumption funds. Take, for example, the city of Tianjin. In 1984 it put into circulation a total of 7.014 billion yuan, an increase of 27.7 percent over 1983. Through the sales of goods, service fees, and savings deposits by both urban and rural residents, a total of 6.831 billion yuan was withdrawn from circulation, up by 23.2 percent over the preceding year. The accounts show that a net of 183 million yuan was added to the currency circulation, the first time there has been net growth for the huge industrial and commercial city in close to sixteen years. Thus, its currency circulation on the market was up by 40 percent over 1983, far exceeding the 11.5 percent growth of the total industrial and agricultural output and 18.1 percent growth of the retail sales. Things are about the same for the country as a whole. In 1984, wages and bonuses disbursed via bank payments grew by 22.3 percent over 1983, and consumption funds for groups and individuals paid out of administrative and management expenditures also increased by 38 percent. These, too, far outpaced the 13.6 percent growth of industrial output value and the 17.4 percent of retail sales in society.

Date: 1988
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