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The cointegration relationship between demand and price of the primary energy in China is tested. The results show that the long-run equilibrium exists between demand and price of the primary energy which is contradictory to the demand theorem. The main reason for the contradiction is analyzed as follows: state control of the energy price, irrational present energy price system, low percentage of...
The global financial crisis broken out in 2008, a variety of hidden economic problems were gradually exposed. As one of the national pillar industry in China, real estate industry had been over developed. And the related risk was accumulated to a critical level. At this international financial crisis and the continuing spread of the background, the Chinese government had to enact series of “restriction...
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