Innovative China
After more than three decades of average annual growth close to 10 percent, China's economy is transitioning to a 'new normal' of slower but more balanced and sustainable growth. China's policymakers are well aware that the country needs new drivers of growth.… Celý popis ↓
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Innovative China
After more than three decades of average annual growth close to 10 percent, China's economy is transitioning to a 'new normal' of slower but more balanced and sustainable growth. China's policymakers are well aware that the country needs new drivers of growth. Its old drivers of growth -- a growing labor force, the migration from rural areas to cities, high levels of investments, and expanding exports -- are waning or having less impact.
The reform agenda is based on the three D's: removing Distortions to strengthen market competition and enhance the efficient allocation of resources in the economy; accelerating Diffusion of advanced technologies and management practices in China's economy, taking This report proposes a reform agenda that emphasizes productivity and innovation to help policymakers promote China's future growth and achieve their vision of a modern and innovative China.
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