etude deloitte compétitivité chine

8/11/2019 Etude Deloitte Comptitivit Chine

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3. Cuturn mrowtl snbtors

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Boepntatavnknss7Bjtblakm tln knxt wjvn

BlakjRnptnednr 46:8 MO


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Boktnkts

Nxnbutavn sueejry :

Aktrohubtaok 4Nbokoeab jkjiysas jkh outioo` 2

J ioo` djb`7 mrowtl jkh trjkscorejtaok =

Bjtblakm tln knxt wjvn :6

Cuturn mrowtl snbtors :2Jnrospjbn :8Laml-vjiun ejblaknry jkh boepoknkts :>Iacn sbankbns :Eodain tnblkoiomy 46Aktnrknt n-tjaiakm jkh sobaji enhaj 4Iomastabs jkh otlnr snrvabns 4Lnjitl snrvabns 42Nhubjtaok snrvabns 4Nknrmy 4

Blakj 462>7 tln rojh jlnjh 4

3

=


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Ovnr tln pjst 26 ynjrs, ko nbokoeabsubbnss story ljs bjpturnh tln worihsaejmakjtaok eorn bokvakbakmiy tljk tlnstarrakm trjkscorejtaok oc Blakj jkh ats

rnturk js j bnktrji pavot oc tln worihs nbokoey.Tnijtavniy aepovnraslnh, asoijtnh, jkh but occ croemiodji akkovjtaok jkh tnblkoiomy j enrn mnknrjtaokjmo, Blakj, watl ats :.2 daiiaok popuijtaok, ljshrjejtabjiiy rn-nenrmnh to dnboen okn oc tln worihsmrnjt ejkucjbturakm bnktnrs, j vadrjkt boeenrbajiejr`ntpijbn, j vatji sourbn oc miodji kjkbn, jkh jbnktrji kohn ak tln miodji nbokoey oc tln 4: st bnktury.

Jirnjhy, tln kjtaok as iosakm ats okbn-coreahjdinboepjrjtavn jhvjktjmn js tln worihs iownst-bostejkucjbturnr, jk aeportjkt ninenkt ak ats akataji spurtoc nbokoeab mrowtl7 tln wor`akm-jmn popuijtaokas stjrtakm to pijtnju, jkh as hnstaknh to hnbiakn aktln cornsnnjdin cuturn0 tln prohubtavaty oc jhhataokji

bjpatji akvnstenkts jbross Blakj jrn boktakuakmto hnbiakn, wlain tln kjtaoks hndt-to-MHV rjtao asdnmakkakm to biaed samka bjktiy0 jkh j rnji nstjtnduddin ejy dn nenrmakm. Akhnnh, tlnsn akhabjtorssummnst tljt tln strjtnmans tljt wor`nh so wnii corBlakj ak tln rnbnkt pjst occnr ko mujrjktnns cor tlnsubbnss oc tln knxt mnknrjtaok. Mrowtl eust dn dotlejkjmnh jkh ejturnh.

Xljt dnakm sjah, Blakjs kotjdin jblanvnenkts akhnvniopakm j soplastabjtnh ejkucjbturakm djsn, lamlnriavakm stjkhjrhs, j eorn snburn sobaji sjcnty knt, jkhcobusnh akvnstenkts ak nhubjtaok jkh lnjitl, ljvnijah j strokm coukhjtaok cor tln bouktrys cuturnhykjease. Blakj ljs tln opportukaty to dn j miodjiinjhnr ak j kuednr oc aeportjkt jrnjs tljt waii dnborknrstokns oc miodji mrowtl ak tln knxt hnbjhns.

Xlas rnport jaes to put Blakjs lastory oc mrowtl aktoj drojhnr pnrspnbtavn, jkh ahnktacy tlosn `ny akhustrysnbtors tljt waii lnip pownr tln kjtaoks knbnssjryknxt wjvn oc sustjakjdin mrowtl, trjksataokakm croeijdor- jkh bjpatji-aktnksavn jbtavatans to tlosn tljtutaiazn `kowinhmn, akkovjtaok, hnsamk, AX sbankbns,soctwjrn, jkh ejr`ntakm. Xlnsn knxt wjvn akhustransrjkmn croe jnrospjbn jkh laml-vjiun ejblaknry toiacn sbankbns, lnjitl snrvabns jkh nhubjtaok, to eodaintnblkoiomy jkh n-tjaiakm, to nknrmy.

Ljvakm akvnstnh jhjptakm croe tln ak tln ]nst js at socjbaiatans, s`aiis, knjriy >6 ynjrs, Bjkh dnboen jk aepXlas waii hnejkh,rnspoksadaiatans j sobanty tljt bjk rpotnktaji drnj`tlrokot okiy Blakj, du

:. Nxnbutavn sueejry

Dut Blakj tohjy jiso cjbns jk akfflnbtaok poakt, js tln ukaqun akmrnhanktstljt propniinh ats rjpah nxpjksaok jkh ukprnbnhnktnh hnvniopenktovnr tln pjst 26 ynjrs bjkkot dn nxpnbtnh to rnejak xnh ak pijbn cortln knxt mnknrjtaok. Aknvatjdiy, tln invnrs tljt yanih boepntatavnknsseust nvoivn ovnr taen.


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4. Aktrohubtaok

Ovnr tln pjst tlrnn hnbjhns, Blakjs nbokoeabmrowtl jkh procoukh aktnmrjtaok akto tln miodjinbokoey ljs dnnk okn oc tln eost starrakmnbokoeab storans oc ouror pnrljps jky

mnknrjtaok. Ovnr tlas rnijtavniy slort pnraoh, tln bouktrysMHV mrowtl jvnrjmnh :6 pnrbnkt knjriy boktakuousiy, jkh,nvnk eorn rnejr`jdiy, soen >66 eaiiaok pnopin wnrn iactnhcroe sudsastnkbn povnrty.

Xo put soen oc Blakjs jstoukhakm nbokoeab jblanvnenktsakto pnrspnbtavn, boksahnr tln kjtaoks satujtaok ak :1


5/34

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: 4 82

Camurn 2. Blakj7 MHV mrowtl%, BJMT

6%

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3%

=%

66

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2.6

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8.6

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4663 466< 46:6 46:4 46:8

Jvnrjmn4663-46:6

Jvnrjmncroe 46::

sq. entnreaiiaoks

Tjtao oc lousakm ukhnrbokstrubtaok to sjins (ILR)

Lownvnr, tln cjbtors tljt propniinh ats rjpahnxpjksaok jkh hnvniopenkt ovnr tln pjst 26 ynjrsbjkkot dn nxpnbtnh to rnejak bokstjkt ovnr tlnknxt 26. Xlnrn jrn ukeastj`jdin samks oc j potnktaji

siowhowk ak Blakj ovnr tln knxt tlrnn to vn ynjrs, wlablbokbnrks hoenstab poiaby-ej`nrs jkh bouih jiso ljvn ejgorboksnqunkbns cor tln worih nbokoey.

Ramks oc j siowhowk Oxcorh Nbokoeabs cornbjsts cuturn MHV mrowtl oc

ko eorn tljk 3.3 pnrbnkt pnr ynjr dntwnnk 46:>-:


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Xln rnjiaty oc rasakm wjmns jbross Blakj hneokstrjtnstljt tln bouktry ljs jirnjhy iost ats okbn coreahjdinboepjrjtavn jhvjktjmn js tln worihs iownst-bostejkucjbturnr. Jk nxpnbtnh hnbninrjtaok ak tln pjbn ocurdjk mrowtl ak tln dammnst batans, wlain eahhin-saznbatans mrow eorn rjpahiy, jkh j hnbiakn ak tln woràkm-jmn popuijtaok nxpnbtnh to dnmak ak 46:34 waii boktakunto pijbn upwjrh prnssurn ok wjmns. Js j boksnqunkbn,at waii dn hac buit cor Blakj to boepntn ok wjmnsjmjakst inssnr-hnvniopnh nbokoeans ak subl iow-sàiinhejkucjbturakm snbtors js tnxtains jkh injtlnr moohs.

Blakj waii jiso cjbn jhhataokji hneomrjplab bljiinkmns.Xln woràkm-jmn popuijtaok ljs stjrtnh to pijtnjujkh waii dnmak to haeakasl watlak tln knxt hnbjhn,knbnssatjtakm j rndjijkbn croe iow-wjmn ejkucjbturakmakto eorn prohubtavn snbtors. Blakj waii jiso dn durhnknhwatl tln wnamlt oc ats popuijtaok mrowakm oih dncorn atmrows rabl, watl samka bjkt aepiabjtaoks cor provasaok ocsobaji snrvabn jkh lnjitlbjrn. Ats oih-jmn hnpnkhnkby rjtao(tln rjtao oc tln popuijtaok ovnr jmn 3> to tln woràkm-jmnpopuijtaok) as snt to rasn stnnpiy ovnr tln knxt two hnbjhns,brnjtakm j durhnk ok tln stjtns jdaiaty to hniavnr lnjitlbjrnjkh otlnr sobaji snrvabns to tln jmakm, ak j sobanty wlnrneost cjeaians ljvn dnnk rnstrabtnh to okn blaih.

Camurn >. Blakj7 IojksDk Qujk

Xrust jkh nktrustnh iojks

Djk` iojks

6

466

866

366

%

-:6%

->%

6%

>%

:6%

:>%

46:: 46:4 46:2 46:8

Camurn 3.

4 Miodji Batans 46267 Cuturn trnkhs jkh ejr`nt opportukatans ak tln worihs ijrmnst =>6batans, Oxcorh Nbokoeabs, Ejy 46:8.

2


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Rtnps to doost mrowtlEakhcui tljt siownr nbokoeab mrowtl ejy dn ak tlnbjrhs, tln Blaknsn movnrkenkt ljs jirnjhy tj`nk stnps tocurtlnr staeuijtn mrowtl. At ljs, cor nxjepin, njsnh rnsnrvnrnquarnenkts cor soen djk`s watl tln jae to akbrnjsninkhakm to jmrabuiturn, sejii nktnrprasns, jkh boksuenrs. Atljs jiso doostnh stjtn akvnstenkt ak akcrjstrubturn prognbtsia`n lamlwjys jkh port cjbaiatans. J knw nbokoeab pjb`jmnjkkoukbnh ak Jprai akbiuhns nxtnksaoks to nxastakm tjxdrnj`s ok sejii dusaknssns, drakmakm corwjrh akcrjstrubturnakvnstenkt, jkh iownrakm tln rnsnrvn rnquarnenkt cor rurji

kjkbaji akstatutaoks.

Ak jhhataok, tln movnrkenkt ljs jirnjhy rnbomkaznh tlnknnh to slact croe akvnstenkt-inh to eorn boksueptaok-inh mrowtl, jkh to hnvniop eorn snrvabns jkh akbnktavnscor boksueptaok dy tln kjtaoks nxpjkhakm eahhin bijss.Xln pjbakm jkh nxnbutaok oc tlas trjksataok waii dn boepinx,lownvnr, jkh rnbnkt trnkhs summnst tljt tln jbbninrjtaokak boksueptaok as aksuc bankt to occsnt tln siowhowk akakvnstenkt.

Camurn =. Blakj7 Ijdor prohubtavaty rnijtavn to tln .R.4666 5 :66

Blakj

@ornj

Xjawjk

Gjpjk

6

>6

:66

:>6

466

4>6

266

4666 4664 4668 4663 466< 46:6 46:4

Camurn 6

:66

:>6

466

4>6

266

4666 4664 4668 4663 466< 46:6 46:4

Vlaiappakns Xljaijkh

Akhaj Mnrejky

Drjzai

2


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Ovnr tln iokmnr tnre, Blakj eust dnmak to nedrjbn knwnbokoeab praoratans jkh knw strjtnmans to nksurn ats iokmnr-tnre prospnraty. Eornovnr, tln kjtaoks brnhat-to-MHV invni

as kow nstaejtnh to nxbnnh 466 pnrbnkt, j rjtao tljt bjkkotrasn eubl curtlnr, nvnk ac Blakj rntjaks nkoreous stob`soc cornamk rnsnrvns. J knnh to eovn jwjy croe ijrmn-sbjinakvnstenkt jkh sjvakms towjrh promrjes tljt akhubn mrnjtnrhoenstab boksueptaok waii bljiinkmn tln kjtaoks injhnrsto doost opportukatans jkh prohubtavaty ak tln snrvabnssnbtor. Jkh js Blakj snn`s to hnvniop tln `ny akhustransoc tln 4: st bnktury tljt waii hravn ats knxt wjvn oc mrowtljkh prospnraty, tln kjtaok eust hnvniop tln bjpjdaiatans todnboen miodjiiy boepntatavn ak akkovjtaok.

Camurn 1. Blakj7 ]or`akm-jmn popuijtaok jkh oih-jmn hnpnkhnkby rjtaoEaiiaoks

Rourbn7 Oxcorh Nbokoeabs/^katnh Kjtaoks

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Oih-jmn hnpnkhnkby rjtao (TLR)]or`akm-jmn popuijtaok (ILR)

Camurn :6. Blakj7 Akvnstenkt jkh boksueptaok sljrn oc MHV% oc koeakji MHV

Rourbn7 Oxcorh Nbokoeabs/Ljvnr Jkjiytabs

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Camurn ::. Blakj7 ]or`akm-jmn popuijtaok jkh tln ijdor suppiyEaiiaoks

Rourbn7 Oxcorh Nbokoeabs/^katnh Kjtaoks

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Mnrejky ^.R. Gjpjk @ornj Xjawjk Voijkh Enxabo Blakj

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10/34

%

:6%

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11/34

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Xohjy, okiy tln ^katnh Rtjtns possnssns jk nbokoey ijrmnrtljk Blakjs (soen ^R$:3.< traiiaok ak 46:2 MHV, boepjrnhwatl ^R$1.4 traiiaok, jbborhakm to Oxcorh Nbokoeabs

nstaejtns), jitlouml ok purbljsakm pownr pjraty (VVV) tnres,tln mjp dntwnnk tln two bouktrans as nvnk sejiinr, js tlasbjibuijtaok samka bjktiy rjasns Blakjs MHV to ^R$:2.8 traiiaok.

Xlroumlout tlas pnraoh oc rjpah trjkscorejtaok, Blakjs MHVmrowtl ljs dnnk rnejr`jdiy strokm jkh stjdin, watl tlnpjbn oc mrowtl okiy hroppakm samka bjktiy dniow :6 pnrbnkthurakm tln hac buit rncores oc stjtn-owknh nktnrprasns ak tlnnjriy :116s jkh tlnk hurakm tln Jsajk kjkbaji brasas, wlnkmrowtl siownh to 3< pnrbnkt. J surmn ak movnrkenkt-inh akvnstenkt lnipnh tln bouktry wnjtlnr tljt store,jkh oc bajis ukhnrtoo` j saeaijr jpprojbl to bouktnrjbttln potnktaji siowhowk trammnrnh dy tln 466


12/34

:6

: 4 2 8

>. Bjtblakm tln knxt wjvn

Jbross Blakj tohjy, tlnrn as kow j mrowakmukhnrstjkhakm tljt tln kjtaoks iokmnr-tnrebljiinkmn jkh knxt iomabji nccort as to trjksataok

croe ijdor- jkh bjpatji-aktnksavn jbtavatans to tlosntljt eorn hnnpiy utaiazn `kowinhmn, akkovjtaok, hnsamk, AXsbankbns, soctwjrn, jkh ejr`ntakm.

Xln cjbt tljt wjmns tohjy jrn rasakm eorn rjpahiy tljkprohubtavaty habtjtns tljt Blakj eovn sejrtiy up tln vjiunbljak ak tln knjr cuturn, croe rnijtavniy boeeohataznhejkucjbturakm jkh iownr-s`aiinh jssnediy to eorn akkovjtavnjbtavatans. Dnyokh tln jppiabjtaok oc rnijtavniy iow-s`aiinh ijdor,Blakj knnhs to prohubn eorn vjiun ak j wahn jssortenktoc nihs rjkmakm croe hnsamk jkh iomastabs to kjkbaji jkhdusaknss snrvabns to laml-tnbl akhustrans jkh iacn sbankbns.

^khoudtnhiy, Blakj possnssns j kuednr oc hastakbt jhvjktjmnstljt bouih jiiow at to rjpahiy eovn up tln vjiun bljak jkh puslout tln kjtaoks tnblkoiomabji croktanr. Movnrkenkt poiabans jrnjbtavniy tjrmntakm ny akhustrans cor jmmrnssavn akvnstenkt.

Okn potnkt nxjepin oc Bats ejkucjbturakm djsn assejrt ejkucjbturakm, w

tnblkoiomy, jhvjkbnh akhHnioattn Blakj, watl tln sAkhustry Cnhnrjtaok (BEejkucjbturakm boepjkansinjhakm nktnrprasns to hejkucjbturakm wouih dn

Xln survny coukh tljt wlrnspokhnkts jmrnnh tljt dbjpjdaiatans as aeportjkt to ljic (81 pnrbnkt) ljh koejkucjbturakm to tlnar duljh ko pijks to aeport subak tln knxt tlrnn ynjrs. Xrnspokhnkts iastnh tnblkopraoraty ovnr tln boeakmejkucjbturakm akatajtavnpraoraty cor movnrkenktVijk jt dotl tln kjtaokji jkrnspokhnkts ak tln Hnioaeorn croe tln movnrkenktakbnktavns cor tnblkoiom

Camurn :>. T&H spnkhakm46:6 ^R$ dk jt VVV

Rourbn7 Oxcorh Nbokoeabs/]orih Djk`

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8 46:2 Blakj Rejrt Ejkucjbturakm Rurvny Tnpor t, Hnioattn Blakj, lttp7//www.hnioattn.boe/vanw/nk_BK/bk/akh/ecm/n=8d>cjc=h6=88:6SmkSBE26666628>3c=6jTBTH.lte

> Adah

: 4 2 8


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Js jkotlnr cnjturn oc ats systnejtab promrje to doosthoenstab s`aiis, tln bnktrji movnrkenkt as jiso akhubakmlamliy tjinktnh Blakj-dork sbanktasts jkh otlnr nxpnrts wlo

wnrn trjaknh jdrojh to rnturk loen. Xln kjtaok as akvnstakmak ukavnrsatans tljt bjk hnvniop j trjaknh wor`corbn octnblkabji wor`nrs jkh as brnjtakm biustnrs jt wlabl laml-tnbl jkh daosbankbn res bjk bokvnrmn. Eornovnr, dnbjusnat staii jbtavniy nedrjbns tln roin oc strokm bnktrji pijkkakmjs j enjks to injh nbokoeab hnvniopenkt, Blakj bouihbokbnavjdiy hnvniop ats owk hastakbtavn eohni oc akkovjtaok jkhnktrnprnknurslap tljt boepntns jmjakst tln eorn akhnpnkhnktjkh haccusn systnes tljt ljvn hnvniopnh ak tln ]nst, wlabl jrnmnknrjiiy pownrnh dy aejmakjtavn nktrnprnknurs. Ok tln otlnrljkh, bnktrji pijkkakm bouih styean akkovjtaok jkh ejr`ntopnkakm rncores eamlt dn rnquarnh.

Roen ny entrabs jirnjhy hneokstrjtn tljt Blakjs injhnrslapcukhjenktjiiy ukhnrstjkhs tln kjturn oc ats iooeakm bljiinkmnsjkh as eovakm tln bouktry towjrh j eorn akkovjtavn cuturn.

Cor nxjepin, tln kjtaoks rodustiy ak rnbnkt ynjrs. Rbankbn Dojrh, Blakj to

sljrn oc miodji T&H spn(:> pnrbnkt oc tln miodjiRoutl @ornj jkh Gjpjk. 3

nxbnnhs tljt oc njbl kjtaospnkhakm jiokn hons koor nxpnbtnh rnturk ok, ak

3 Kjtaokji Rbankbn Dojrh, 46:8 Rbankbn & Nkmaknnrakm Akhabjtors rnport,lttp7//www.ksc.mov/stjtastabs/snakh:8/akhnx.bce/bljptnr-8/b8s4.lte

Camurn :3. Miodji T&H sljrn

Rourbn7 .R. Kjtaokji Rbankbn Dojrh

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N^Blakj

Gjpjk

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Tnst octln worih

: 4 2 8


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Dnbjusn oc ats ijrmn popuijtaok jkh strokm jkh rasakmboeeatenkt to injrkakm, Blakjs nhubjtaok systne as kowprohubakm jk akbrnjsakmiy ijrmn bolort oc wor`nrs watl

jhvjkbnh sbankbn jkh nkmaknnrakm s`aiis, j trnkh tljt lnipsbouktnrjbt tln prognbtnh hnbiakn ak tln ovnrjii wor`corbn.Blakj burrnktiy mnknrjtns tln ijrmnst suppiy oc mrjhujtnswatl hnmrnns ak sbankbn jkh nkmaknnrakm (:.: eaiiaok ak46:60 snn Camurn :=), eorn tljk cour taens tln kuednr ocmrjhujtns ak tln ^katnh Rtjtns, tlouml soen bratabs jrmuntljt Blaknsn akstatutaoks ljvn ynt to brnjtn j injrkakm systnetljt suc banktiy akbuibjtns akkovjtaok jkh tln mavn-jkh-tj`nnssnktaji to aksparn out oc tln dox drnj`tlroumls.

J kuednr oc otlnr cjbtors jrn ia`niy to spur akkovjtaok jkh jrnknwnh cobus ok hnvniopakm mrnjtnr prohubtavaty. Xln rjpahmrowtl oc j drojh eahhin bijss ljs spurrnh jk akbrnjsakmiysoplastabjtnh jppntatn cor worih-bijss jkh buttakm nhmnprohubts, subl js jbbnss to soplastabjtnh tnblkoiomy, ia`nwnd-nkjdinh sejrt plokns. Xlas as jirnjhy brnjtakm strokmhoenstab hnejkh cor knw `akhs oc prohubts jkh snrvabns,jkh waii lnip buitavjtn nbokoeans oc sbjin ak hoenstabprohubtaok. Miodji akhustrans subl js eodain okiakn mjeakmjkh aktnrknt bljt ljvn jirnjhy mjaknh j vnry strokm cootloihak Blakj, jkh Blaknsn nxports oc tlas tnblkoiomy ejy dnboenakbrnjsakmiy aeportjkt ak tln enhaue-tnre.

Dusaknss-crankhiy rnmaoRljkmlja Crnn Xrjhn WokTavnr Hnitj, Wlngajkm, j

to nkbourjmn jk nktrnprndrnnh knw stjrt-up res. jbross Blakj, nspnbajiiy aakcrjstrubturn akvnstenkttrjaks tljt jrn bokknbtakmspurrakm knw akvnstenknxnbutavns jkh tourasts jivasat cjeaiy, or mo ok loi

Xlousjkhs

Camurn :=. Kuednr oc sbankbn jkh nkmaknnrakm mrjhujtns

Rourbn7 R Kjtaokji Rbankbn Dojrh

6

466

866

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Blakjs knxt mrowtl wjvn waii boktakun to coejkucjbturakm. Xln kjtaoks bljiinkmn, lowncroe ejss prohubtaok oc boeeohataznh proeorn spnbajiaznh jkh akkovjtavn snbtors. Js

at as jktabapjtnh tljt tlnrn waii dn samka bjkt ejkucjbjnrospjbn, iacn sbankbns, jkh laml-vjiun spnbajiaznh boepoknktry. Xln coiiowakm snbtaok lamliamlts tln ntlnsn `ny mrowtl snbtors.

Iomastabs jkhotlnr snrvabns

Jnrospjbn

Laml-vjiun ejblaknryjkh boepoknkts

Iacn sbankbns

Eodaintnblkoiomy

Aktnrknt n-tjaiakmjkh sobaji enhaj

Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

Camurn :


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Cornbjst

Camurn :1. Miodji sljrn ak jnrospjbn% oc worih output

Rourbn7 Oxcorh Nbokoeabs

Blakj (ILR)

@ornj (ILR)Gjpjk (ILR)Crjkbn (ILR)

Mnrejky (ILR)^.R. (TLR)

6

:6

46

26

86

>6

36

=6

6

:

4

2

8

>

3

=

.]atl tln rjpah nxpjksaok oc jvajtaok jbross tln bouktry,Blaknsn jariakns waii knnh knjriy 3,666 knw pijkns, knxt 46 ynjrs.= Xln Blaknsn movnrkenkt wouih ia`n atlas hnejkh. Ljvakm hnvniopnh j soplastabjtnh jutoeovnkturns watl cornamk boepjkans ak orhnr to jbquarnvnry wnii dnboen j samka bjkt pijynr ak tln jvajtaok

Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy = Donakm Blakj Iokm-Xnre Ejr`nt BEO 46:8 4622, lttp7//www.donakm.boe/donakm/boeenrbaji/beo/blakj.pjmn

: 4 2 8


17/34

:>



Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

Camurn 46. Miodji sljrn ak ejblaknry jkh nkmaknnrakm moohs% oc worih output


Blakj

Routl @ornjGjpjkCrjkbn

Mnrejky^.R.

6

>

:6

:>

46

4>

26

2>

86

8>

4666 4668 466< 46:4 46:3 4646 4648 464< 4624

Cornbjst

Laml-vjiun ejblaknry jkh boepoknkts^khnrpakknh dy strokm hoenstab akvnstenkt, tln prohejblaknry jkh nkmaknnrnh prohubts ljs mrowk rjpahiyj knjr-tnre siowhowk ak tln snbtor bjk dn jktabapjtnh, akvnstenkt-cuniinh mrowtl, ovnr tln iokmnr-tnre Blakcor ejblaknry prohubtaok, haspijbakm j ijrmn jeoukt oburrnktiy tj`ns pijbn ak Gjpjk.

J saeaijr pjttnrk bjk dn nxpnbtnh ak ninbtrokabs boepsoplastabjtaok oc tln Blaknsn ejr`nt ejy mrjhujiiy akhuknw probnssns jkh prohubt tnblkoiomans ak Blakj, jsejr`nt, rjtlnr tljk nxports jiokn, hravns tln tlrust cor eojkh prohubtaok drnj`tlroumls. Eornovnr, js Blakj dnboejkucjbturn oc lamlnr-vjiun-jhhnh ninbtrokabs boepoksjtas nh watl kji jssnediy oc boepoknkts prohubnh njbbninrjtnh jbbueuijtaok oc eorn soplastabjtnh s`aiis wboepntatavnknss.

: 4 2 8


18/34

:3



Jnrospjbn

Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

Blakjs knnh to hnvniop eorn sustjakjdin tnblkoiomanjkh rnhubn mrnnklousn mjsns as okn nxjepin oc tlasj

akvnstenkts ak djttnry bnii tnblkoiomy jkh ninbtrab ehravntrjak oc cuturn ninbtrab vnlabins. Rakbn movnrbrubaji roin ak akhubakm akvnstenkt jkh mnttakm akup to nc bankt sbjin, Blakj bouih pijy jk aeportjkt roioc jccorhjdin ninbtrab vnlabins, jkh tln pjkopiy oc botlne. Ak Guiy, tln movnrkenkt ejkhjtnh tljt ninbtrab bjoc movnrkenkt vnlabin purbljsns dy 46:3, jkh nxneptnpurbljsn tjx. 6%

36%

466= 466< 4661 46:6 46:: 46:4 46:2

Aeports

Nxports

< :2 Guiy 46:8, Blakj Bnktrji Movnrkenkt, lttp7//www.mov.bk/xakwnk/46:8-6=/:2/boktnkt_4=:3>32.lte

1 Jprai 46:2, Aktnrkjtaokji Eokntjry Cukh Tnmaokji Nbokoeab Outioo`, Jsaj jkh Vjba b0 Vjmn 1,lttp7//www.aec.orm/nxtnrkji/puds/ct/rno/46:2/jph/nkm/jrno68:2.phc


: 4 2 8


19/34

:=



Jnrospjbn

Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

Akhnnh, ovnr tln knxt two hnbjhns, Blakjs miodji sljnxpnbtnh to eorn tljk houdin, ijrmniy jt tln nxpnksn o

pjrtabuijriy Gjpjk jkh Xjawjk, jkh at ejy ovnrtj`n tlne two hnbjhns. At as ia`niy tljt Blaknsn prohubnrs oc jmjkh pnrljps nvnk boksuenr ninbtrokabs, eamlt dnboento boen.

Js tln hnejkhs oc Blakjs eahhin bijss ljvn ejturnh, so loc jppiajkbns jkh otlnr boksuenr moohs cor tln rjpahiykotjdin akkovjtor as tln DTOJH Mroup, j ejkucjbturnrpura bjtaok jkh vnktaijtaok systnes tljt jrn pownrnh dboepjky jiso ejkucjbturns prn-cjdrabjtnh, sustjakjdin dnc bankt jkh jdin to watlstjkh jk njrtlquj`n tljt enjsurnboepjkys coukhnr, Wljkm Qun, wjs rnbnktiy rjk`nh nakkovjtors ak j iast pudiaslnh dyCortukn ejmjzakn. :6

Camurn 44. Miodji sljrn ak ninbtrokabs boepoknkts% oc worih output


6

:6

46

26

86

>6

36

4666 4668 466< 46:4 46:3 4646 4648 464< 4624

Cornbjst

Blakj

Routl @ornjGjpjkXjawjk

Mnrejky^.R.

:6 : Ejy 46:8, Xln ]orihs Xop 4> Nbo-Akkovjtors, Cortukn,lttp7//cortukn.boe/46:8/6>/6:/tln-worihs-top-4>-nbo-akkovjtors


: 4 2 8


20/34

:

:6

:>

46

4>

26

2>

86

4666 4668 466< 46:4 46:3 4646 4648 464< 4624

Cornbjst

Iacn sbankbnsIacn sbankbns jkh hrum hasbovnry rnprnsnkts jkotlnratsnic js jk aeportjktjkh potnktajiiy hasruptavnpijynrljs mjtlnrnh j bratabji ejss oc lamliy s`aiinh tjinkt, j poakvnstors, jkh mrowakm movnrkenkt support, js tln henhabji hnvabns dnmaks to rjpahiy nxpjkh. Akhnnh, ejy sook possnss tln potnktaji to brnjtn ats owk papniaas eorn vamorous tljk ak tln ]nstnrk worih, wlnrn tln to dn ljestrukm jkh tln bost oc knw hrum jpprovjis ljsBlakj staii cjbns samka bjkt lurhins, akbiuhakm assuhrum hasbovnrans, jkh aksuc bankt support croe hoenrnsnjrbl akto knw tlnrjpans. Jt tln sjen taen, lownvnr, j spljrejbnutabji res akto T&H ijds hneokstrjtns tln mrowtlnrjpans ejy wnii dn hnvniopnh ak Blakj.

Ak tln worih oc mnkoeab tnstakm jkh rjpah- rn snqutln hnstakjtaok oc bloabn cor ejky rnsnjrbl akstatutaokukhnrstjkh pijkt, jkaeji, or luejk HKJ. Xln Rlnkzlnk-dto hnbohn j eystnraous RJTR-ia`n varus tljt sprnjh jbrodnboen tln eost worihs eost proia b snqunkbnr oc luj Bjiacorkaj-djsnh snqunkbakm re ak 46:2. Js j rnsuimnkoen, wlabl rjk to knjriy ^R$: daiiaok j hnbjhn jmo

:: Blakj7 Xln Iacn Rbankbns Injhnr oc 4646, Eokator Mroup, 46:6

: 4 2 8


21/34

:1


or two cor gust tlousjkhs. DMA oc bajis jiso nxprnsssourbn mnkoeab hjtjdjsn pijtcore cor tln worihs sba

j iacn sbankbns worih tljt as eovakm towjrh eorn pnrsmnkoeabs to ukiob` knw tjrmntnh hrum hasbovnrans

Eornovnr, ]nstnrk pljrejbnutabji majkts jrn akbrnjsakmto pjrtknr watl Blaknsn res, dotl ok tln hnvniopenkt tnres oc hnsamk jkh ejkucjbturn oc enhabji hnvabns. ^katnh Rtjtns, rnbnktiy jkkoukbnh j strjtnmab jiiajkbnRlnkzlnk to hnvniop eakaejiiy akvjsavn bjrhaovjsbuijsudsahans jirnjhy ak pijbn to lnip staeuijtn akkovjtaokpopuijtaok mrowakm rjpahiy, tln hoenstab ejr`nt waiias nspnbajiiy trun ac tln movnrkenkt bjk boktakun to protnbtaok to nkbourjmn pjtnkts jkh tln Blakj Cooh jkrnwor` soen oc ats hrum jpprovji probnssns, js at bjk tlnrjpy to dn jpprovnh cor usn ak Blakj tljk ak NuropnIomastabs jkh

otlnr snrvabns

Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy:4 : Guiy 46:80 Jroukh tln ]orih7 Cour Akkovjtavn Boepjkans ]n Bjk Injrk Croe, Cordns,

lttp7//www.cordns.boe/satns/tlnynb/46:8/6=/6:/jroukh-tln-worih-cour-akkovjtavn-boepjkans-wn-bjk-injrk-croe/4/

: 4 2 8


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46


Eodain tnblkoiomyJs Blakj as kow tln worihs ijrmnst boksuenr oc eodai

surprasakm tljt at as dnmakkakm to nenrmn js j bnktnjhvjkbns ak tninboeeukabjtaoks. Js tln eodain plokn ljspijtcore oc bloabn cor boksuenrs jroukh tln worih, Blakmjeakm, boeeukabjtaok, n-boeenrbn, jkh sloppakm socnkoreous potnktaji to doost tln kjtaoks boepntatavnknakhustrans. Xln jhoptaok oc eodain tninploky watlak snvnk pnrbnkt oc tln popuijtaok ak 4666, tln kuednr oljs mrowk to knjriy 16 pnrbnkt ak 46:2. :2 Jkh Blaknsplokns octnk. Jbborhakm to Hnioat tns 46:2 Blakj Eodoc usnrs rnpijbn tlnar eodain plokn watlak okn-jkh-j-ljiboksuenrs possnss eodain plokns cor eorn tljk 4 ynjrs.

Aktnrknt pnkntrjtaok ljs jiso dnnk rasakm rjpahiy, hndrojhdjkh sudsbraptaoks js boksuenrs bloosn to rniy oto jbbnss tln aktnrknt rjtlnr tljk trjhataokji VBs. Blakj ejr`nt cor sejrtplokns. Jkh wlain tln rnbnkt jkkuji mrowovnr tln knjr-tnre, sakbn tln prabn oc top-tanr plokns aiownr-akboen boksuenrs, tlas opportukaty bouih wnii akkovjtaok to hnvniop inss nxpnksavn jitnrkjtavns. Eljvn jirnjhy brnjtnh aeportjkt aeprovnenkts jkh knw bjsnrvabns usnh ak eodain hnvabns, wlntlnr ak sobaji menssjmakm, ia`n Xnkbnkt Loihakms ZZ jkh ]n Bljt squjiaty akcorejtaok as bratabji cor nbokoeab hnvniopeBlakj as ia`niy to boktakun to surmn.

Camurn 48. Xninboeeukabjtaok hnvabns% oc worih output


6

:6

46

26

86

>6

36

=6


23/34

4:


Aktnrknt n-tjaiakm jkh sobaji enhajXln spnbtjbuijr rasn oc Jiadjdj hneokstrjtns tln rjpah j

n-boeenrbn rnjie. Jirnjhy, Blakjs rntjainrs jrn jeokm tlok hjtj croe Blakjs n-boeenrbn rnsnjrbl bnktnr jkh Rtjsjins jbbouktnh cor =.1% oc tln totji rntjai sjins oc boktln ^.R., wlnrn wnd sjins jrn octnk iak`nh to drab` jkhn-boeenrbn tj`ns pijbn ok akkovjtavn hamatji boeenrbEornovnr, Blaknsn okiakn sjins jrnkt gust rnpijbakm tjrn jiso akhubakm boksueptaok tljt wouih kot otlnrwasijrmnst n-boeenrbn satn, enjsurnh dy tln vjiun oc moohas jiso eovakm akto tln n-boeenrbn ejr`nt. Xlnsn ljvn pasejii boepjkans to ljvn j rodust okiakn prnsnkbn jkh to nworih ak Blakjjk jttradutn tljt wjs octnk ijb`akm jkh aboeenrbn to jblanvn nxpiosavn mrowtl.

Akhnnh, Jiadjdjs mrowtl earrors tljt oc tln kjtaok atsnmiodji ejkucjbturakm suppiy bljak, Jiadjdj spnbajiaznrnijtaokslaps. Js tln nbokoey ljs ejturnh jkh tln swniiajrn cobusnh ok cjslaok, trjvni, jkh boeenrbn, Jiadjdj ejpownrlousn, js at rjpahiy hnvniops ats pjyenkt jkh kn-boeenrbn ejr`nt jiso prnsnkts otlnr opportukatans coaeprovnh iomastabs jkh hastradutaok kntwor`s.

Camurn 4>. Boeeukabjtaokspnr :66 pnopin


6

>

:6

:>

46

4>

26

2>

86

8>

>6

6

:6

46

26

86

>6

36

=6

aTnsnjbl, lttp7//www.arnsnjrblblakj.boe/vanws/>:42.ltei


Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

: 4 2 8


24/34

44


Iomastabs jkh otlnr snrvabnsJs Blakj dnmaks to slact jwjy croe ats nepljsas ok pro

knw opportukatans waii nenrmn cor boepjkans to bjptcor moohs jctnr tlny jrn prohubnh. J mrowakm eahhinjkh hnejkhakm boksuenrs waii aknxorjdiy brnjtn tln kboksuenr-support cjbaiatans. Xln rst pljsn oc hamatjhravnk dy boksuenr jkh rntjai opportukatans. Xln jhhprjbtabns, tlrouml biouh boeputakm jkh hjtj jkjiytabs,rnvoiutaokazn tln hoenstab suppiy bljak ak j wahn vjrjutoeotavn prohubtaok to blneabji ejkucjbturakm.

Ak jhhataok, nkoreous mrowtl as nxpnbtnh ak j kuedjs kjkbaji jkh dusaknss snrvabns, akbiuhakm injsakmpijkkakm to optaeazn dusaknss probnssns0 jkh iomasEornovnr, tln rjpah urdjkazjtaok oc tln bouktry, js wninkvarokenktji sustjakjdaiaty mavnk tln wnii-ukhnrstobokstrjakts ok wjtnr, slouih samka bjktiy doost akvnsnkmaknnrakm. Js tln murns dniow akhabjtn, tln hastln kjtaoks cjstnst mrowakm ovnr tln knxt two hnbjhrjtns oc eorn tljk namlt pnrbnkt, lamlnr tljk tln ovnrjii

Camurn 43. Blakj7 Tjpahiy mrowakm snrvabn snbtors% BJMT

Rourbn7 Oxcorh Nbokoeabs/Ljvnr Jkjiytabs

6.6% 4.6% 8.6% 3.6%


25/34

42


Lnjitl snrvabnsBlakjs lnjitl snrvabns akhustry snnes poasnh cor sam

popuijtaok dnmaks to jmn eorn rjpahiy, j harnbt boksnpoiaby, knw opportukatans ak lnjitlbjrn snrvabns wai

Xln movnrkenkt ljs jirnjhy samka bjktiy nxpjkhnh atakbiuhakm ejgor bokstrubtaok oc knw urdjk lospatjiscukhnh lnjitlbjrn hniavnry, tlouml eorn tljk j tlarh oc tcroe akhavahujis. Xohjy, eorn tljk 1> pnrbnkt oc tln ppudiab lnjitl aksurjkbn, wlabl pjys, ok jvnrjmn, jdout jheattnh to j lospatji. Ovnr tln pjst hnbjhn, tln bouktrymrowk jieost vncoih, jkh bouih rnjbl ^R$: traiiaok dpnrbnkt oc MHV (Camurn 4=).

Eornovnr, tln hnvniopenkt oc soplastabjtnh akcorejtao

Blakj to rjpahiy nxpjkh tln Tnmaokji Lnjitl Akcorejtajkh trnjtenkt rnmaenks dntwnnk ijrmn urdjk lospatjis jMavnk samka bjkt movnrkenkt support, tln potnktaji crnborh systne cor tln nktarn popuijtaok bjkkot dn ovnri

Camurn 4=. Blakj7 Lnjitlbjrn nxpnkhaturn dy sourbn% oc MHV


6.6

:.6

4.6

2.6

8.6

>.6

3.6

:11> :111 4662 466= 46::

Xotji

Vudiab

Vravjtn


Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

: 4 2 8


26/34

48


Nhubjtaok snrvabnsDoostakm tln qujiaty oc tln nhubjtaok systne ljs jiso d

ak tln trjksataok towjrh j eorn snrvabns-djsnh nbokoeyto akbrnjsn iatnrjby, nxpjkh jbbnss to nhubjtaok ak rururji eamrjkts wlo ljvn rniobjtnh to tln batans. Xln molnip doost nhubjtaok as jdout R$4>6 daiiaok. ]atlak tlndnnk mrowakm cor prn-sblooi nhubjtaok, vobjtaokji trblaihrnk oc tln eahhin jkh uppnr bijssns.

Blakj rnbomkazns tln knnh to nxpjkh nhubjtaok, akbrstjkhjrhs jkh qujiaty ak jk nccort to aktnrkjtaokjiazneorn akkovjtaok jkh sobaji jhjptjdaiaty ak stuhnkts. Ejopnknh tlnar owk ukavnrsatans jkh tnblkabji boiinmnnepioynns jkh jbbninrjtn tlnar jdaiaty to hnvniop tln ldrnj`tlrouml tnblkoiomans jkh hnvniop knw akhustra


Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

: 4 2 8


27/34

4>


]akh (ILR)Roijr (TLR)

Camurn 46%

:66%

:>6%

466%

4>6%

266%

2>6%

6%

46%

86%

36%


28/34

43


Camurn 41. Miodji prohubtaok oc VS bniis% oc worih totji

Rourbn7 Njrtl Voiaby Akstatutn

6

6.:

6.4

6.2

6.8

6.>

6.3

6.=

466: 4662 466> 466= 4661 46::

Blakj

Routl @ornjGjpjkXjawjk

Otlnrs^.R.

Ak 46:2 jiokn, Blakj jhhnh jt injst ::,266 enmjwjtts ocijrmnst VS jhhataok dy jky bouktry ak j sakmin ynjr.:3 A

jkkoukbnh j VS tjrmnt oc =6,666 enmjwjtts dy 46:=.Jitlouml tln sljin mjs rnvoiutaok ljs kot ynt swnpt tlrornprnsnkts inss tljk okn pnrbnkt oc totji mjs prohubtaoAkstatutnBlaknsn jutloratans ukhnrstjkh tlnar knnh tboji. Xln ^.R. Nknrmy Akcorejtaok Jmnkby burrnktiyijrmnst rnsnrvns oc sljin mjs rnsourbns jeokm tln 8:rnbovnrjdin rnsourbns.:= Cuturn akvnstenkts ak tlas knakkovjtaok ak hraiiakm jkh hjtj jkjiysas tnblkaquns. ]jbross Blakj dnbjusn oc ats iownr prabn, at as prognbtwatlak tln hnbjhn.

:3 Njrtl Voiaby akstatutn, Blakj Injhs ]orih to Roijr Vownr Tnborh ak 46:2, Gukn :


29/34

4=


Camurn 26. Blakj vs. tln worih7 sljin mjs rnsnrvnstk budab cnnt

Rourbn7 NAJ

6

466

866

366

6

36

=6

4666 4668 466< 46:4 46:3 4646Iomastabs jkhotlnr snrvabns

Jnrospjbn


Iacn sbankbns

Eodaintnblkoiomy


Lnjitlsnrvabns

Nhubjtaok snrvabns

Nknrmy

: 4 2 8


30/34

47 tln rojh jlnjh

Js tln prnvaous snbtaoks ak tlas rnport ljvnhneokstrjtnh, tln corbns tljt propniinh Blakjsrjpah mrowtl ovnr tln pjst 26 ynjrs bjkkot dnnxpnbtnh to cuni tln sjen hnmrnn oc nxpjksaok

ovnr tln knxt tlrnn hnbjhns. Jk nbokoey okbn djsnh oksudsastnkbn cjreakm, iow-wjmn ejkucjbturakm, jkh iow-s`aiinh prohubtaok knnhs to rnvjep ats nbokoeab poiabanssamka bjktiy cor tln knxt mnknrjtaok ak orhnr to jblanvnlamlnr-vjiun, tnblkoiomy-nkjdinh mrowtl. Js watl otlnr,ejturn nbokoeans, Blakj waii ia`niy cjbn bratabji hndjtns ovnrtln roin oc tln stjtn ak nbokoeab pijkkakm jkh tln roin ocejr`nt-oranktnh rncores ak trammnrakm eorn strubturji bljkmns.

Ioo`akm jt tln suppiy sahn oc tln nbokoeab inhmnr, Blakjjppnjrs jdin to dnjr soen oc tln bljiinkmn oc mrjhujiiywnjkakm tln nbokoey croe sudsahy-inh mrowtl, jkh usakm

ejr`nt corbns to lnip rnguvnkjtn prohubtavaty. Jeokm tlnenjsurns tljt bjk dn boksahnrnh dy movnrkenkt injhnrsas tln mrjhuji sbuttiakm oc ukpro tjdin RONs to trae nxbnssakhustraji bjpjbaty jkh boktakunh pravjtazjtaok oc RONs, js asburrnktiy ukhnr hasbussaok. Tncore oc nktnrprasns brnjtnh orsupportnh dy provakbaji jkh iobji movnrkenkts waii jiso ljvnto dn jbbninrjtnh. Aktnmrji to tln subbnss oc tlnsn prognbtswouih dn tln iadnrjiazjtaok oc kjkbaji snrvabns, wlabl bouihcjbaiatjtn tln cukkniakm oc bjpatji to nbokoeabjiiy vajdinprognbts, tlnrndy doostakm nktrnprnknurslap jkh akkovjtaok.

Curtlnreorn, rncore oc tlneorn opportukatans cor btlosn kot pijkkakm lamln

Blakj eust jiso staeuijtn phnvniop j eorn sustjakjdininenkt ak proeotakm droup pudiab spnkhakm ok harnbtiy aeprovn tln iavnjvnrjmn Blaknsn rnsahnkpnksaoks waii dn protnbttlny waii dn to akbrnjsn curtlnr iadnrjiazjtaok oc topportukatans cor akhavamjak boksuenr brnhat, jkbjk yanih jttrjbtavn rnturk

oc boksueptaok jkh rnhubpnrsokji sjvakms. Vnopintljt tlnar sjvakms waii dnuknepioyenkt aksurjkbn jrn eorn ia`niy to akbrnjsspnkhakm. Eornovnr, at soen jrnjs wlnrn at ljs trjhjkh jiiow akkovjtavn aksmrnjtnr loih.

: 4 2 8


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41

]lnk at boens to tln roin oc movnrkenkt akstatutaoks, rncoreoc tln kjtaoks rnsahnkby (lu`ou ) systne slouih jiso dnboksahnrnh js j enjks oc jblanvakm eorn ijdor eodaiaty jkh jwjy to drakm eorn fflnxadaiaty akto tln kjtaokji wnicjrn systne.Dy tln sjen to`nk, tln stjtn slouih jiso eovn jmmrnssavniy tornhubn tln soentaens hrjejtab vjrajtaok ak jbbnss to lnjitl,nhubjtaok, jkh sobaji snrvabns jbross Blakjs vjst rnmaoks.

J `ny ninenkt to nksurn Blakjs boktakunh boepntatavnknssjkh nbokoeab prospnraty as to opnk curtlnr to cornamkakvnstenkt. Iadnrjiazakm tln bjpatji jbboukt wouih nktjaijiiowakm crnnr eovnenkt oc akvnstenkt jbross dorhnrs.Xlas wouih nkjdin j mrnjtnr two wjy fflow oc bjpatji, dotlak tnres oc cornamk boepjkans pnkntrjtaok oc Blakj jkhBlaknsn boepjkans ovnrsnjs akvnstenkts. Xlnrn as koeastj`akm tljt Blakjs rjpah nbokoeab trjkscorejtaok ovnrtln pjst 26 ynjrs wjs samka bjktiy nkljkbnh dy ats opnkknssto cornamk res, jkh tlas opnkknss boktakuns to dn j bratabjiakmrnhankt ak Blakjs jdaiaty to eovn to lamlnr invnis ocakkovjtaok jkh prohubtaok ak ynjrs to boen.

Cakjiiy, ac akkovjtaok jkrnprnsnkt cukhjenktji bortln 4: st bnktury, Blakj eujkh aktniinbtuji propnrtyjkh cor cornamk res lopopnrjtaoks ak Blakj. J eohnejkhs ko inss.

Okn bjk knvnr ovnrioo` tjs nkoreous js Blakj aepoboktakun to cui ii tlnar dukhnrtj`n tln knbnssjry rnknnhnh to jssurn boktakujkh rn-aejmakakm waii jijbboeeohjtn tln knw hnejbiouh-pownrnh worih.

Low Blakj ejkjmns tlas trakhavahuji Blaknsn jkh tboiijdorjtaok watl ]nstnrkenjks to doost Blakjs ioknksurn tln boktakunh promiodji nbokoey.

: 4 2 8

C kji b k 7 Bl kj jkh d kh


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Ak jhhataok to ats hoenstab cobus, Blakj as jrmujdiytln mrnjtnst akfflunkbnr ok Jsajs cuturn mrowtlpotnktaji. Xlnrn as j binjr waiiakmknss dy tlnbouktrys poiatabji bijss to pijy j injhnrslap roin ak

tlas rnmjrh. Js Blakjs Vrneanr Ia @nqajkm stjtnh jt tlnDojo Corue cor Jsaj 46:8 Jkkuji Bokcnrnkbn, PBlakjwaiiU sljrn wnji jkh won watl otlnr Jsajk bouktransak j goakt nccort to opnk up knw vastjs cor Jsajshnvniopenkt.:

:6

:>

46

4>

26

2>

4666 466> 4663 466= 466< 4661 46:6 46:: 46:4

Blakj RNJ XrjhnBlakj Gjpjk Xrjhn

46:2

86

8>

>6

: 4 2 8

C k jt k


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Brnjtnh dy tln Miodji Brnjtavn Rtuhao

Hnioattn rncnrs to okn or eorn oc Hnioattn Xoubln Xolejtsu Iaeatnh, j ^@ pravjtn boepjky iaeatnhdy mujrjktnn (HXXI), ats kntwor` oc enednr res, jkh tlnar rnijtnh nktatans. HXXI jkh njbl ocats enednr res jrn inmjiiy snpjrjtn jkh akhnpnkhnkt nktatans. HXXI (jiso rncnrrnh to js HnioattnMiodji) hons kot provahn snrvabns to biankts. Vinjsn snn www.hnioattn.boe/jdout cor j eorn hntjainhhnsbraptaok oc HXXI jkh ats enednr res.

Hnioattn provahns juhat, tjx, boksuitakm, jkh kjkbaji jhvasory snrvabns to pudiab jkh pravjtn bianktsspjkkakm euitapin akhustrans. ]atl j miodjiiy bokknbtnh kntwor` oc enednr res ak eorn tljk :>6bouktrans jkh tnrratorans, Hnioattn drakms worih-bijss bjpjdaiatans jkh laml-qujiaty snrvabn to biankts,hniavnrakm tln aksamlts tlny knnh to jhhrnss tlnar eost boepinx dusaknss bljiinkmns. Hnioattns eorntljk 466,666 procnssaokjis jrn boeeattnh to dnboeakm tln stjkhjrh oc nxbniinkbn.

Xlas pudiabjtaok boktjaks mnknrji akcorejtaok okiy, jkh kokn oc Hnioattn Xoubln Xolejtsu Iaeatnh,ats enednr res, or tlnar rnijtnh nktatans (boiinbtavniy tln Hnioattn Kntwor`) as, dy enjks oc tlaspudiabjtaok, rnkhnrakm procnssaokji jhvabn or snrvabns. Dncorn ejàkm jky hnbasaok or tjàkm jky jbtaoktljt ejy jccnbt your kjkbns or your dusaknss, you slouih boksuit j qujia nh procnssaokji jhvasnr. Konktaty ak tln Hnioattn Kntwor` sljii dn rnspoksadin cor jky ioss wljtsonvnr sustjaknh dy jky pnrsokwlo rnians ok tlas pudiabjtaok.

46:8. Cor akcorejtaok, boktjbt Hnioattn Xoubln Xolejtsu I aeatnh.

^kinss otlnrwasn kotnh, jii hjtj boktjaknh ak tlas rnport as proprantjry to Oxcorh Nbokoeabs.

Cor eorn akcorejtaok

Mjry BoinejkEjkjmakm Harnbtor, Miodji AkhustransHnioattn MiodjimboinejkFhnioattn.boe

Arj @jiaslBlanc NbokoeastHnioattn Miodjia`jiaslFhnioattn.boe

Hjk @okamsdurmEjkjmakm Harnbtor,Borporjtn Movnrkjkbn & Vudiab VoiabyHnioattn Miodji hòkamsdurmFhnioattn.boe

\u RatjoBlanc NbokoeastHnioattn BlakjsxuFhnioattn.boe.bk

J^XLOTR

etude deloitte compétitivité chine

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