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In the past few years, the proportion of domestic non-government investment in the total investment of the whole society continuously demonstrated a growing trend, while the proportions of investment made by the state economy and the foreign, Hong Kong, Macao and Taiwan investors gradually shrunk. From 1997 to 2001, the proportions of state investment, domestic non-government investment and foreign, Hong Kong, Macao and Taiwan investment changed from 52.5%, 35.9% and 11.6% to 47.3%, 44.6% and 8.1% respectively. At present, the proportion of domestic non-government investment in total social investment is close to that of the state economy.

Since the 1990s, the proportion of state investment has decreased at a fast speed. Compared with 1994, it dropped by 9.1 percentage points in 2001. Meanwhile, the proportion of investment of the collective economy fell slowly by 2 percentage points, and the proportion of investment of foreign, Hong Kong, Macao and Taiwan investors decreased by 3.1 percentage points. However, the proportion of investment of private economy, especially that of the joint stock economy, increased significantly by 3 and 11.4 percentage point, respectively. With large treasury bonds investment, the proportion of state investment in the whole society grew marginally in 1998 and 1999, but the overall trend is still falling. During 1998-2001, the proportions of state investment dropped from 54.1% to 47.3%. Meanwhile, among changes in the proportions of non-government investment, the proportion of collective investment decreased slightly from 14.8% to 14.2%, that of private investment rose from 13.2% to 14.5%, and that of other economies grew from 18% to 23.9%, of which, the proportion of investment of joint stock economy jumped from 6.9% to 15.2% (see Table 2). This indicated that while treasury bonds investment concentrated in the state sector, domestic non-government investment was getting more and more active, and the investment of the joint stock economy was especially vigorous and saw the fastest of growth.

Note: In the Statistical Summary 2002, the state economy was mixed together with other types of economies in 2001 (therefore, the rates of growth reached 26% and 70%, respectively). There was no separate calculation due to time pressure (so were the statistics of the first quarter and first half of this year). Many reports neglected this fact and used the figure directly to demonstrate fast growth of state economy investment, which indicated excessively large proportion of state investment and slow increase of non-government investment in total social investment. Table 1 and Table 2 separated the state economy from the other types of economies based on the 2001 data of the SSB, and may accurately reflect the facts.

Data source: China Statistical Year Books and calculations based on the 2001 data of the SSB.

Comparison of the status of government direct investment and total social investment in the past few years also demonstrated the rising trend of the autonomous investment ability. During 1999-2001, the proportion of treasury bonds investment (including completed investment with treasury bonds funds and total counterpart funds) in total social investment gradually fell at respective rates of 8.1%, 8.8% and 6.5%. Meanwhile, the growths of budge本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。