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Home > Reports and Documents > Innovative China: new drivers of growth > Innovative China: new drivers of growth

Innovative China: new drivers of growth [1]

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.
[2]

Publication Date: 
16/09/2019
The World Bank [3]
Tags:
Economy [4], Economic Development [5], GDP [6], China [7]
Centre for Science and Environment
National Knowledge Commission Government of India

Technology Partners: MimirTech


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Source URL: http://admin.indiaenvironmentportal.org.in/reports-documents/innovative-china-new-drivers-growth

Links:
[1] http://admin.indiaenvironmentportal.org.in/reports-documents/innovative-china-new-drivers-growth
[2] http://www.indiaenvironmentportal.org.in/files/file/Innovative China.pdf
[3] http://admin.indiaenvironmentportal.org.in/category/publisher/world-bank
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economy
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economic-development
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/gdp
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/china