Development Research Center of the State Council

(Author)

Innovative China: New Drivers of GrowthPaperback, 17 December 2019

Innovative China: New Drivers of Growth
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Print Length
184 pages
Language
English
Publisher
World Bank Publications
Date Published
17 Dec 2019
ISBN-10
1464813353
ISBN-13
9781464813351

Description

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.

Product Details

Authors:
Development Research Center of the State CouncilWorld Bank Group
Book Format:
Paperback
Country of Origin:
US
Date Published:
17 December 2019
Dimensions:
26.42 x 20.32 x 1.27 cm
ISBN-10:
1464813353
ISBN-13:
9781464813351
Language:
English
Pages:
184
Weight:
453.59 gm

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