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美国商务部从六个面向说明“中国是非市场经济国家”，核心均是“有形之手”对经济的干预过多。除了关于“汇率操纵”和对外资设置限制方面阐述，其它如、政府干预国企垄断、农村土地所有权、户籍制度、金融市场改革等方面，在国内学术文章中也很常见。美国商务部一定是看国内学术文献写就了这份报告。





Anyway，美日欧已抱团取暖，或将形成新的贸易同盟，直至实现零关税，架空WTO。中国呢，不知道在憋什么大招。





本报告发布日期：2017.10.26

发布者：美国商务部





正文







The Department of Commerce (“Department”) concludes that China is a non-market economy(NME) country.The basis forthe Department’s conclusion is that thestate’s role in the economy and its relationship withmarkets and the private sector resultsin fundamental distortions in China’s economy.





美国商务部裁定中国是非市场经济国家。裁定的依据是政府在经济活动中的作用及其与市场和私营部门的关系导致中国经济存在根本性扭曲。

The Department’s overall conclusion is based upon itsanalysis of six factors established in U.S.law. Department take into account(1) the extent to which the currency of the foreign country is convertible intothe currency of other countries; (2) theextent to which wage rates in theforeign country are determined by free bargaining between labor and management;(3) the extent to which joint ventures or other investments by firms ofother foreign countries are permittedin the foreign country; (4) the extent of governmentownership or control of the means ofproduction; (5) the extent of government control over theallocation of resources and over theprice and output decisions of enterprises; and (6) such other factors as theadministering authority considers appropriate.





商务部的结论是基于对美国法律中确立的以下6个因素的分析：

1. 该国货币可以在多大程度上兑换成其他国家的货币；

2. 该国工资水平在多大程度上由劳资双方的自由谈判决定；

3. 该国允许外国公司合资或者其他投资的程度；

4. 政府拥有或控制生产资料的程度；

5. 政府对资源配置以及企业的价格和产出决策的控制程度；

6. 管理当局认为适当的其他因素；





一

China has movedfrom multiple (fixed) exchange rates and closed current and capital accounts toa more flexible, unified exchange rate,an open current account, and a somewhat open capital account. However, Chinastill maintains instruments of control over thevaluation of the RMB through thecentral parity rate-setting process and FOREX marketinterventions. China also continues tomaintain approval requirements for all major capitalaccount transactions, includinginvestment, borrowing, and cross-border account holding.





中国已从多种（固定）汇率和封闭的流动和资本项目转变为更灵活、统一的汇率，开放的经常项目和略微开放的资本项目。但是，中国仍然通过中间价设定流程和外汇市场干预措施维持对人民币估值的控制。中国还继续维持所有主要资本账户交易的审批要求，包括投资，借款和跨境账户持有。





The CFETS doesnot disclose the weights attached to price quotes from the previousday used to calculate the centralparity rate. Moreover, significant FOREX interventions are necessary for theRMB to follow the currency basket.

中国外汇交易中心没有披露用于计算中间价的前一天报价的权重。此外，需要大量外汇干预以保持人民币钉住一篮子货币。

二

Significantinstitutional constraints on the extent to which wage rates are determinedthrough free bargaining between labor and management in China remain. Inaddition, the restrictions on labor mobility through the hukou systemcontinue to distort the supply side of the labor market.





中国劳资双方通过自由谈判确定工资率的过程仍然存在着显着的制度约束。此外，户籍制度对劳动力流动的限制继续扭曲劳动力的供给。









While China has expanded legislation to protect workers’legal rights, these developments have not reduced restrictions on collective bargaining. Workers do not have the legal right to strike ororganize independently, and as such, have no meaningful freedom of association. Collective action has been on the rise, but these incidents are generally outside of theinstitutional process, and the Chinese government only condones them when they do not threatensocial stability.



虽然中国已经扩大立法以保护工人的法律权利，但这并没有减少对集体谈判的限制。工人没有罢工或独立建立组织的合法权利，因此没有真实的结社自由。集体诉讼数量一直在上升，但这些事件通常不属于制度范畴，中国政府只有在不威胁社会稳定时才会允许它们发生。

三

Although Chinahas opened its economy to foreign investment over the last few decades in manyrespects, China’s foreign investment regime continues to shield Chineseenterprises from competition, particularly those the Chinese government istrying to cultivate as market leaders.





虽然中国已在过去的几十年里向外国投资开放，但在很多方面，外商投资规则仍保护中着国企业免受外国的竞争，尤其是中国企业政府正试图培养成为市场领导者的企业。

The OECD, inits FDI Regulatory Restrictiveness Index, has continually ranked the Chinesegovernment’s foreign investment regimeas one of the most restrictive in the world, even aftersome initial improvements followingChina’s accession to the WTO.





基于外商直接投资监管限制指数指标，经合组织连续将中国政府外商投资制度评为世界上最具限制性的制度之一，即使在入世后有所改善。

Chinese government impose equity limits and local partner requirements. Foreign investors have consistentlyraised concerns that the approval process is time-consuming，complicated,and expensive, often involving multiple government agencies.





中国政府对外国投资人设定了股权限制和当地合作伙伴的要求。外国投资者一直担心审批程序耗时，复杂且昂贵，因为它往往涉及多个政府机构。

Foreign investors have raised longstanding concerns that they have been required totransfer advanced technologies to Chinese entities as a condition of enteringthe Chinese market.





外国投资者长期以来担心需将先进技术转让给中国企业作为进入中国市场的条件。

Foreign investors have expressed concerns that the AML may be used in some casesto protectthe Chinesedomestic market from foreign competition and encourage the development ofnational champions and indigenousinnovation.

外国投资者担心，在某些情况下，“反洗钱”可能被用于保护中国国内市场不受外国竞争的影响，并鼓励国企和本土创新企业的发展。

According torecent surveys, foreign investors believe they have been targeted anddiscriminatedagainst throughnational security-related legislation, such as the National Security Law,theCounter-terrorismLaw and the Cyber Security Law.

外国投资人认为中国政府利用反垄断和国家安全为理由歧视他们。

四

The Department finds that the Chinese government continues to exert significant ownership and control over the means ofproduction, as demonstrated by the role and prevalence of SIEs throughout theenterprise sector and the system of land ownership and land-use rights.





商务部发现中国政府继续对生产工具拥有重大的所有权和控制权，国企在整个企业部门的角色和普遍性，以及土地所有权和土地使用权制度证明了这一点，。

The Chinese government allocates resources to SIEsin what it deems strategically important sectors, such that SIEs are not strictly disciplined bymarket principles of supply and demand. At the same time,however, the government requires thatSIEs undertake large-scale investments to help stabilize. China’s macro-economy. The governmentalso intervenes extensively in the enterprise sector toshield SIEs from the consequences ofeconomic failure, facilitates mergers and acquisitions toachieve government, not enterprise,objectives, and enables the rise of large enterprise groupsunder government ownership and control.SIEsin Chinaoperate in sectors and industries beyond those that typically raise naturalmonopoly orpublic goods orservices policy considerations.

中国政府在其认为具有战略重要性的部门中人为分配资源，使国有企业不受市场供求原则的严格约束。与此同时，政府要求国有企业进行大规模投资以帮助稳定宏观经济。政府还广泛干预企业部门，以保护国有企业免受经济失败的影响，促进并购以实现政府，而非企业的目标。即使在自然垄断或公共产品行业之外，国企也存在。

The CCP exercises significant influence over the SIE sector. One form of influence is through the Organization Department under the CCP Secretariat, which appoints individualsto leading positions inthe CCP, the government, and the military, as well as in SIEs and other institutions. Party influence is reinforced by the existence of Party Committees that exercise a stronger influence over enterprise decisions.





中国共产党对国有企业部门有重大影响。一种形式是通过组织部任命共产党、政府、军队、国有企业和其他机构的领导职位。企业党委的存在强化了共产党的影响，它们对企业决策有重大影响。

There is noprivate land ownership, rural and urban land markets are segmented, andthe government remains the finalarbiter on how land is used (through extensive planning) andvalued. In rural area, rural residents remain effectively constrained in terms of how they use the land and the extent to which they cantransfer their land-use rights or fullymonetize their value. As a result, agricultural production in China remains inefficient due to smallplots and underdeveloped leasing markets. In urban areas, in practice, thegovernment uses its discretion to make large amounts of land available forindustrial uses, particularly in the central and western regions of thecountry, while limiting thesupply of land available for residential and commercialuses, a practice that segments landmarkets and distorts prices.

中国没有私人土地所有权，农村和城市土地市场被分割，政府仍然是土地使用（通过广泛规划）和价值的最终仲裁者。在农村地区，农民在土地使用方式以及土地使用权转让或其价值完全货币化（土地买卖）方面仍受到有效限制。因此，由于土地的分割和不发达的租赁市场，中国的农业生产仍然效率低下。在城市地区，政府利用其自由裁量权将大量土地用于工业用途，特别是在中西部地区，同时限制可用于住宅和商业用途的土地供应，这导致土地被分割，并扭曲了土地价格。

五

The Chinese government retains substantial discretion and employs an extensive system ofnational and local government policies and regulations through which itexplicitly determines or otherwise exerts a high degree of control over pricesit deems essential or strategic. The system of price controls is characterizedby an extensive web of national and local price control regulations, and by theprominent role of NDRC in setting prices in tandem with its functions informulating industrial policies. The Chinese government’s ability to set andinfluence factor input prices, in particular, results in distorted costs andprices throughout the economy and a serious misallocation of resources.

中国政府保留了很大的自由裁量权，广泛运用国家和地方政府政策法规体系，以明确规定或以其他方式对其认为必要的或战略性的商品价格施加高度控制。价格控制制度的特点是，国家和地方的价格控制法规形成了广泛的网络，国家发改委在制定产业政策的同时，在制定价格方面发挥着突出的作用。中国政府设定和影响要素投入价格的能力导致整个经济的成本和价格扭曲，资源严重错配。





The financial sector remains fundamentally distorted, from both a risk pricing and a resourceallocation standpoint. An analysis of interest ratedynamics suggests that interest rates are still closely tied to government-published “referencerates” and are thus not yet market-determined. Soft budget constraints, non-arm’s-lengthpricing, implicit government guarantees and government policy directives directly or indirectlydistort the formal banking sector, the interbank market, the bond market, and “shadow banking.





从风险定价和资源分配角度来看，金融部门仍然存在根本性的扭曲。 对利率动态的分析表明，利率仍然与政府公布的“参考利率”密切相关，因此尚未确定市场。软预算约束，非公平定价，隐性政府担保和政府政策指令直接或间接地扭曲了正规银行业，银行间市场，债券市场和“影子银行”市场。









六









The legal system is designed and operates tobe subordinate to CCP and state policy and guidance. Key legal institutions are structured to beable to respond to CCP direction. The CCP ultimately has the power to shape judicial activitieson a large scale by retaining the ability to directly intervene on a case-by-case basis. Firms effectively lack the ability to challenge administrative rules and procedures, and thus, have limited ability to make investment and operational decisions that fall outside the scope ofgovernment-determined outcomes.



法律体系的设计和运作从属于国家的政策和指导。中国冲产党最终有权通过保持直接干预的能力，大规模地塑造司法活动。公司实际上缺乏挑战行政规则和程序的能力。因此，在政府决定的结果之外作出投资和业务决定的能力很有限。







