China Economics

Topics: Economic growth, Economics, Gross domestic product Pages: 5 (1531 words) Published: May 10, 2013
China's economic challenges

China aims to double the country's gross domestic product by 2020. This requires a 6-8 per cent annual growth. Sustainable economic growth does not happen without deep structural reforms. Economic growth is needed to maintain the investment in the transition of society towards a consumer society. Production need to focus on quality and efficiency, not the quantity. At the same time the growing inequality associated with large pressures. Economic growth in order to maintain China's goal is to reduce dependence on economic growth, investment and exports, and on the other hand to strengthen domestic consumption. China 18 Congress adopted a target of doubling the country's GDP, and bring China to average wealthy countries by the year 2020. This requires an annual economic growth of 6-8 per cent of the maintenance. Economic growth from the old bottom

Some observers are of the view that Hu and Wen during the period 2002-2012 China's political leaders, intellectuals and government officials reaped the wise solution reached in the economic growth of the harvest, but they failed to create a viable vision for the future. Some observers call this period, China's "lost decade", although this classification has not been widely used in China. It is clear that Premier Li Keqiang focuses on the economic challenges of the work. Line of his speech at the party conference, he assured the Chinese leadership to continue its economic growth by focusing on the line, in particular the industrial upgrading as well, speeding up the development of ICT, the government of urbanization and agricultural modernization. In saying this, Li has called for bolder economic reforms. In recent years, China's economic growth upkeep investment-and export-led economic policies will be continued at the same time as the impetus for economic growth is sought by increasing domestic consumption.

Li Keqiang economic policies
China's development opportunities and challenges of in-depth understanding. Speeding up the development of the market economy. Economic growth and the quality of services should be balanced with speed and efficiency. Domestic consumption should emphasize and enhance coordination with export and investment. "Xiaokang-ideal society" or "a reasonable well-being of society, seeking to" the needs of economic development and the promotion of sustainable development continued. Industry to develop innovative development stressing. Urbanization increases domestic consumption. Service sector growth increases employment. Central and Western regions of China's modernization will require large-scale construction activity. Food security is the urbanization and industrialization of the basic requirement. Natural resources should be used with principles of sustainable development. Financial system reforms deepened in a comprehensive and economic model of the system being developed transparent. On the allocation of capital and increasing compliance with the principles of the market economy, the macroeconomic regulatory system can be improved. Equal competitive environment is built for all business types. Financial and taxation system model and structural reform. Socially equitable income distribution system is being developed. Improving the governance of promoting good governance. China's economic growth to continue - but slows down

China's economy is now a very different background than it was ten years ago. China was in the early 2000s, the world's sixth largest economy, now it is the second largest. China's economic growth is slowing down, its gross domestic product (GDP), the value surpass the U.S. in GDP as early as possible in 2018. China's economic growth over the last ten years there has been enormous. GDP growth of 9% in 2002 and by as much as 14% in 2007. In 2012, real GDP is projected to grow by about 7.5%, and the 2013 GDP of 8.1%. China's economic growth will slow in the coming years for several reasons: China's...
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