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portada Innovative China: New Drivers of Growth
Type
Physical Book
Publisher
Author
Year
2019
Language
English
Pages
182
Format
Paperback
ISBN13
9781464813351
Categories

Innovative China: New Drivers of Growth

World Bank; The People's Republic Of China Development Research Center Of The State Council (Author) · World Bank Publications · Paperback

Innovative China: New Drivers of Growth - World Bank; The People's Republic Of China Development Research Center Of The State Council

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Synopsis "Innovative China: New Drivers of Growth "

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. 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. China's policymakers are well aware that the country needs new drivers of growth. 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. 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 advantage of the large remaining potential for catch-up growth; and fostering Discovery and nurturing China's competitive and innovative capacity as China approaches OECD incomes in the decades ahead and extends the global innovation and technology frontier.

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