Administrative order replaced bidding, and 12306.cn became a natural monopoly as a result.

The biggest obstacle confronting the pension fund’s injection into the capital market is that the fund is currently scattered in numerous accounts and held by over 2,000 organizations.

Most industry insiders think future investment and financing reform in the railway sector must be accompanied by relevant marketization reform.

“I never had any doubt that, as far as I was concerned, it was best for my country, best for Asia, and best for the world, to have the United States and China working together as much as possible as friends and in cooperation.”

The nation spends only 29.3 percent of its fiscal revenue on public services such as education, health care, social security, and housing; while developed countries spend an average of 60 percent.

China should step up its efforts to marketize its interest rates, in order to prevent “off-balance sheet” risks from running out of control, and to ensure the effectiveness of government macroeconomic controls.

The American Dream is slowly fading as political, economic and social problems have put the U.S. economy into deep turmoil.

Caijing learned that the rules focus on providing outlets for private capital, and may include operable provisions on opening up the telecommunications, railway, and even military industries to private capital.

The lack of supervision led to the entanglement of bank funds and private loans, and resulted in a regional crisis. The solution is to break the bottleneck of reform and establish a sound market system.

Both the world’s growth center and its economic gravity center are shifting towards the emerging world, which poses new challenges for developed and emerging economies alike.

Highways as a whole are under substantial debt pressure, and there are even signals that a few local projects may be on the verge of running out of funds.

No magic wand exists that can make debt problems accumulated over 10 years disappear overnight. The prescription for the debt crisis in Europe already points to the fate of the euro.

The government’s practice -- embracing marketization when there is no chance to cash in while executing administrative control when there is profit to gain -- has hindered the reform of China’s coal industry

Past high-pressure policies aimed at maintaining stability have exacerbated the public's sense of insecurity, constrained normal economic development and social living space

As global imbalances persist, GDP surplus countries have to keep lending to the world’s biggest debtor, and pay the bills for the economic crisis in the meantime.