(East-West Question) Zhang Saiqun: How can overseas remittances of "sweeping help" add "icing on the cake" to China's development?
China News Agency, Beijing, May 7th: Zhang Saiqun: How can overseas remittances of "sweeping help" add "icing on the cake" to China's development?
China News Agency reporter Ma Haiyan Jinxu
A piece of paper of overseas Chinese appraises the national conditions of a country, and a thousand miles is worth ten thousand gold.
As a special family letter of "integration of letter and money", overseas Chinese have traveled across the ocean to express their deep affection for their relatives and friends in their hometown, and they also witnessed their hard work in a foreign land and fed back their enthusiasm for the construction of their hometown.
Today, remittances, as a reliable "non-trade international income", are still an important link in maintaining the economic, social and emotional ties between overseas Chinese and their ancestral countries.
What are the deep cultural roots of the development of Qiaopi?
What is the development trend of Chinese remittances?
What is the special significance of remittance income to China's economic construction and international financial cooperation?
Zhang Saiqun, a professor at the School of Politics and Public Administration of Huaqiao University, recently accepted an exclusive interview with China News Agency "East and West Questions" and made an analysis.
The following is a summary of the interview transcript:
China News Service reporter: As the main carrier of overseas Chinese collection, distribution, transfer and payment, the overseas Chinese wholesale industry is the link between overseas Chinese and their motherland and hometown. Looking back at history, what development process has Qiaohui experienced?
Zhang Saiqun:
"Qiaohui" is also known as overseas Chinese approval or bank letter. In a narrow sense, "Qiaohui" refers to remittances from overseas Chinese to their relatives and friends in China.
"Remittances" in a broad sense include remittances from overseas Chinese to China and remittances from Hong Kong and Macao compatriots to the mainland (excluding their investment in China).
Currently, statistics on Chinese remittances usually refer to the latter.
As early as the late Ming Dynasty, overseas Chinese in Jinjiang, Fujian who lived in Nanyang once brought their hard-earned earnings from overseas to their hometown to support their families or "buy land and build a house".
Bringing your own or entrusting others to carry should be the way of remittance in the early days.
The opera "Overseas Chinese".
Photo by China News Agency reporter Liu Kegeng
By the beginning of the 19th century, full-time "water tourists" who traveled between the hometown of overseas Chinese and the place where they lived, carried letters and money for the overseas Chinese, and also did business with local specialties, appeared, which facilitated the connection between overseas Chinese and their hometowns.
At this time, overseas remittances were sent through scattered private channels, and the exact amount could not be verified.
On the whole, due to the "sea ban" policy implemented by the Qing court, it was inconvenient for overseas Chinese to go abroad, and the scale of overseas remittances was limited.
The feelings of the country and the country are sent to the ruler - the exhibits of the special exhibition of Jiangmen Wuyi Yinxin (Overseas Chinese Approval).
Photo by Guo Haipeng issued by China News Agency
In the 1860s, the Qing government allowed Britain, France and other countries to legally employ workers in China.
After that, the number of overseas Chinese workers surged, and the Civil Information Bureau, which specialized in overseas remittance business, came into being.
The Minxin Bureau is a private operation with branches in overseas and domestic overseas Chinese areas.
At the end of the 20th century, due to the joining of new institutions such as banks and post offices, the circulation channels of overseas remittances tended to be diversified.
The peak period of modern remittances was from the end of the 20th century to the period of the Anti-Japanese War.
Since the middle and late period of the Anti-Japanese War, due to changes in the political and economic situation at home and abroad, overseas remittances in most provinces have been interrupted, and the lives of overseas Chinese domestic relatives have been difficult. It was not until the victory of the Anti-Japanese War that overseas remittances were restored.
Reporter from China News Service: In 2013, the "Overseas Chinese Approval Archives" jointly recommended by Fujian and Guangdong provinces and declared by the State Archives Bureau was successfully selected into the "Memory of the World Directory", becoming a collective memory of overseas Chinese and their hometowns. Since the founding of New China, how has overseas remittances affected the social and economic development of overseas Chinese hometowns?
Zhang Saiqun:
One of the main functions of overseas Chinese remittances is to ensure or improve the lives of their relatives.
For a long period of time after the founding of New China (from the 1950s to the 1980s), overseas remittances became the main source of life for many families of overseas Chinese.
Nowadays, the economic development in the hometown of overseas Chinese is generally good, and the "sweeping help" of overseas remittances in the past has become "the icing on the cake".
Overseas Exchange Certificates (1980) Photo by Xia Ying issued by China News Agency
Secondly, for Guangdong, Fujian, Zhejiang and other key provinces where overseas remittances are received, overseas remittances have made outstanding contributions to the economic and social development of overseas Chinese hometowns.
In terms of usage, remittances mainly include family support, housing construction, investment and donation.
Among them, living expenses such as supporting a home and building a house have stimulated domestic demand in overseas Chinese hometowns, while investment and donations are more beneficial to the economic and social development of overseas Chinese hometowns.
The relatives of overseas Chinese use their excess remittances to invest in various industries to form a "blood-forming function", which is of positive significance for the prosperity of the local economy and the optimization of the industrial structure of overseas Chinese hometowns.
Although before the reform and opening up, the use of overseas remittances was mainly to support the family, and investment and donations accounted for a small proportion (according to the survey, from 1862 to 1949, investment overseas remittances only accounted for 3.65% of the total overseas Chinese), but this was relatively low at that time. It is still important for the level of industrialization.
In addition, the overseas remittance itself has also formed a special industry of overseas Chinese approval industry in overseas Chinese hometowns and places of residence.
In the early days of the founding of New China, the living dependence of overseas Chinese relatives on overseas remittances decreased, and the proportion of overseas remittances used for investment and charitable donations rose to 10%.
After the reform and opening up, the government once gave preferential treatment such as tax reduction to enterprises founded by overseas Chinese, which led to a continuous increase in overseas remittances put into production, which greatly promoted the economic development of overseas Chinese hometowns and eased local employment problems.
The donation of overseas remittances has promoted the development of social welfare undertakings in overseas Chinese hometowns, and contributed to the development of overseas Chinese hometowns such as education, health and transportation.
China News Service reporter: What is the development trend of Qiaohui in recent years? How do you view the phenomenon of "decline in remittances"?
Zhang Saiqun:
Since the end of the 20th century, investment immigrants, skilled immigrants and overseas Chinese working abroad have grown rapidly. Meanwhile, online remittance methods such as mobile banking and online banking have made the circulation channels of overseas remittances more convenient, and the amount of overseas remittances in China has also been growing rapidly.
According to the World Migration Report 2020, China’s remittances in 2018 were US$67.4 billion, ranking second in the world after India (US$78.6 billion).
This amount matches China's 10.7 million overseas immigrant population, but is not commensurate with the overall size of China's more than 60 million overseas Chinese.
Moreover, in recent years, the gap between China's remittances and India's has been growing. In 2019, India's remittances were US$83.1 billion and China's US$68.4 billion. The influence of other factors, but in any case, there is still room for further development of Chinese remittances.
Remittances are a stable source of foreign exchange for a country.
China has a large number of overseas diasporas, and the money they repatriate accumulates, forming a considerable amount of overseas remittances, which effectively make up for the shortage of national foreign exchange in a certain period of time.
According to rough statistics, from 1950 to 1988, China's overseas remittances totaled 9.61 billion US dollars, and the foreign trade deficit was 6.124 billion US dollars in the same period.
It can be seen that remittances have played a vital role in making up for the foreign trade deficit and balancing the balance of payments, and behind this is the advancement of China's industrialization and modernization process.
Although China's foreign exchange reserves have increased and the proportion of remittances has declined since then, the importance of remittances cannot be ignored.
Compared with other foreign exchange, overseas remittances, as the money sent by overseas Chinese to their relatives and friends in their hometowns, are not easily affected by international financial and global economic fluctuations, and have always been relatively stable.
China News Service: What policy does the Chinese government take on remittances? How do you think we should further tap the potential of remittances and play their positive role in economic and social development?
Zhang Saiqun:
In the early days of the founding of the People's Republic of China, the government implemented the policy of "facilitating overseas remittances and serving overseas Chinese", and gave preferential treatment to the use and savings of overseas remittances, which led to an increase in the amount of overseas remittances in China.
After the reform and opening up, more overseas Chinese went abroad. The government reiterated its stance of "protecting overseas remittances", and gave preferential treatment in the collection of personal income tax and real estate purchases, and the income from overseas remittances rebounded.
How to expand overseas remittances?
Generally speaking, the more diaspora there are, the more remittances they will remit if they develop well.
First of all, we should unblock the international migration channels of immigrants, reasonably guide citizens to go abroad, and care for and support the overseas development of overseas Chinese.
Second, change the concept, encourage overseas Chinese to invest and start businesses overseas, expand their own careers, increase the amount of overseas Chinese remittances, and form various forms of overseas remittances.
At the same time, the channels for remittances will be unblocked, allowing innovative non-bank financial institutions to provide cross-border remittance services and minimizing the cost of remittances.
In order to prevent money laundering, some countries have imposed caps on single remittances and imposed high handling fees on small remittances. China can actively cooperate with the countries where the expatriates are located to solve these problems through consultation and improve the conditions for the return of overseas remittances.
Secondly, it is necessary to comprehensively improve the quality of "serving overseas Chinese" by relevant departments, facilitate the entry and exit of overseas Chinese, ensure the personal and property safety of overseas Chinese, etc., and promote overseas donations and investment overseas remittances.
At the same time, rationally guide the flow of overseas Chinese remittances.
For a long time, the Chinese government has encouraged the use of overseas remittances for production and public welfare while insisting on the freedom to use overseas remittances.
However, in some areas, due to the lack of investment awareness of overseas Chinese relatives, a large number of overseas remittances have entered the consumption field. Borrowing, etc., has a limited effect on regional economic development.
Therefore, it is still necessary to guide the healthy consumption and reasonable investment of overseas remittances, advocate a thrifty and civilized consumption culture in overseas Chinese hometowns, publicize the awareness of social charity, and at the same time improve the investment environment of overseas remittances, innovate the financial products of overseas remittances, and give better play to the role of overseas Chinese remittances in China's economic and social development. positive effects.
Reporter from China News Service: Qiaohui has developed and formed in the transnational activities of overseas Chinese and has become an important bridge connecting overseas Chinese settlements and domestic overseas Chinese hometowns. What do you think of the impact of remittances in the cultural and economic exchanges between China and the West?
Zhang Saiqun:
On the one hand, under the circumstance of underdeveloped cross-border transportation and communication in the early days, overseas Chinese remittances and the entire overseas Chinese approval industry have become important channels for overseas Chinese to learn about their hometowns and keep in touch with their hometowns.
The remittance of overseas Chinese back to China is not only to support their families and help relatives and friends, but also to reflect the sincerity of their country and hometown.
In a sense, overseas remittance is not only a kind of remittance, but also a means to maintain the emotional connection between overseas Chinese and China and their hometown.
Today, cross-border transportation and modern communication tools are more convenient, and the transfer of remittances has undergone major changes, but the emotional transmission behind it continues.
On April 10, 2021, the audience visited the "Family and Country Feelings and the Rulers - Jiangmen Wuyi Yinxin (Overseas Chinese Approval) Special Exhibition".
Photo by Guo Haipeng issued by China News Agency
On the other hand, from ancient times to the present, overseas remittances have been the initial driving force for people from overseas Chinese hometowns to go overseas. Chinese language, food and other cultures have also spread to the countries where the overseas Chinese are located, and the culture of some host countries is also accompanied by overseas Chinese letters, "water "Guests" were imported into China, and over time became the characteristics of the culture of overseas Chinese.
The overseas remittance connecting domestic and foreign countries has created a special industry of overseas Chinese approval industry, promoted financial cooperation and trade exchanges between China and the country where the overseas Chinese are located, and vigorously promoted cultural and economic exchanges between China and the West.
(Finish)
Interviewee Profile:
Zhang Saiqun, female, professor at the School of Politics and Public Administration, Huaqiao University.
Mainly engaged in the teaching and research of overseas Chinese affairs policy, overseas Chinese public welfare, and poverty alleviation, and published works such as "Research on Overseas Chinese Affairs Policy in China", "Research on Overseas Chinese Affairs Policy of Nanjing National Government", etc. He has published a series of related academic papers in professional academic journals such as "Research on Contemporary Chinese History", and presided over relevant research topics of national ministries and commissions.