Abstract
During the period of the 10th Five-Year Plan, Comrade Xi Jinping, then Secretary of the Zhejiang Provincial Party Committee, quoted the theory of “two hands” from the Wealth of Nations written by Adam Smith in the process of intensifying reform to further enrich innovation and put forward the new philosophy of “two hands”: the visible hand—the government—and the invisible hand—the market—should mutually coordinate, perform and play different functions and roles in light of different stages and requirements of economic development.
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Notes
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Zhejiang Daily, March 17, 2006.
- 2.
The Institution Reform Plan of the People's Government of Zhejiang Province in 2009.
- 3.
Yu Jianxing, Zhang Liping, Adjustment and Adaptation of the Roles of Local Governments in the Process of Marketization and Management Innovations, Theoretical Investigation, 2013(4).
- 4.
Party History Research Office of Zhejiang Provincial Party Committee, Making the People Rich by Starting Business and of Building a Strong Province through Innovation—Since the 12th Party Congress of Zhejiang Province, Zhejiang People's Publishing House, 2012.
- 5.
The negative list of enterprise project investments was promoted, in which where the market mechanism can exercise effective regulation, examination and approval is cancelled, and where management by the grass-roots departments is more convenient and effective, the examination and approval powers are delegated to the lower levels; the list of government powers was set down, in which government powers were fully overhauled; the management list of special funds of government departments was made, the provincial-level government departments generally no longer directly distributed and allocated funds to enterprises and they also no longer directly collected administrative charges from enterprises.
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A province-wide online government hall was built, thus providing one-stop online services and exercising whole-process efficiency supervision.
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Greatly reducing the government's direct allocation of resources, the government's management of and intervention in micro affairs, the government's intervention in resources and factor prices.
- 8.
- 9.
It is difficult for small and medium-sized enterprises to seek more loans; it is difficult for private capital to make more investments.
- 10.
Zhang Zhenyu, Ke Yuanyuan, Wenzhou's Solution for Local Comprehensive Financial Reform, China Finance, 2014(11).
- 11.
Data come from the Zhejiang Statistical Yearbook 2013.
- 12.
Data come from the Zhejiang Statistical Yearbook 2013.
- 13.
Data come from the Zhejiang Statistical Yearbook 2014.
- 14.
Trustworthy towns, trustworthy villages and trustworthy households.
- 15.
Two libraries mean enterprise demand library and financial product library; one network means the integrated service network for micro, small and medium-sized enterprises.
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- 19.
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- 21.
With the Reform under the Specified Principle, Zhejiang's State-owned Enterprises Increased State-owned Assets by More Than One Trillion Yuan within a Decade, Xinhuanet, 2014-07-14, http://financeifeng.com/a/20140714/12716653_0.shtml.
- 22.
Xi Jinping, Remaining Steadfast on Two Fronts, Creating New Advantages for Zhejiang in Developing the Economy with Different Types of Ownership, Economic Times, March 15, 2003.
- 23.
Data come from the Zhejiang Statistical Yearbook 2013.
- 24.
Zhejiang Statistical Yearbook over the years.
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Ying, G. (2019). Scientifically Using “Two Hands” and Intensifying the Reform of the Economic System. In: Pei, C., Xu, J. (eds) Chinese Dream and Practice in Zhejiang – Economy. Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-13-7484-5_4
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