China’s new growth engine
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China’s New Growth Engine CUHK Business School Greta Zhang
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Transcript of China’s new growth engine
China’s New Growth EngineCUHK Business School
Greta Zhang
LOST IN THE HAZE
LOST IN THE HAZE
President Xi Visits Beijing’s Touristy Place.
THE OLD NORMAL
Old Economic Normal 2000-2011
Double-digit GDP growth on average
Very high levels of investment in heavy industrial sectors, which require large volumes of energy
Strong dependence on exports to external markets
CHINA’S ECONOMIC
TRANSFORMATION
Speed Change
Structural Optimization
Engine Shifting
NEW SPEED
An Era of Relatively Slower Growth
STRUCTURAL OPTIMIZATION
Services Industry
STRUCTURAL OPTIMIZATION
Consumption Demand
Investment Demand
Distribution of GDP across Economic Sectors 2004-2014
NEW DRIVERS OF GROWTH
ENTREPRENEURSHIP
INNOVATION
Economic development itself is a process of continuous technological innovation and industrial upgrading.
%̶ Lin Yifu
CHINA’SDevelopment Priorities 2016-2020
I. Focus on economic development at ALL levels
CHINA’SDevelopment Priorities 2016-2020
II. Address TWO weak links
The imbalance of development between regions
The imbalance of development between ethnic groups
CHINA’SDevelopment Priorities 2016-2020
III. Establish THREE new stances
New Concepts
New Approaches
New Measures
CHINA’SDevelopment Priorities 2016-2020
IV.Develop FOUR key regions
One Belt, One Road
Yangtze River Economic Belt
Beijing-Tianjin-Hebei Region Northeast Region
CHINA’SDevelopment Priorities 2016-2020
V.Follow FIVE principles of development
Innovation
Coordination
Greenness
Openness
Sharing
CHINA’SDevelopment Priorities 2016-2020
VI.Implement 10 development strategiesCyber expansion
strategyWin-win open strategy
National big data strategy
Talent development strategy
Innovation-driven development strategy
Strategy of prioritizing the training of competent personnel
Strategy of accelerated FTZ development
Strategy of giving top priority to employment
Food safety strategy
Civil-military integration strategy
NEW ACTIONPLANS INTERNET
PLUSMADE IN CHINA 2025
BELT AND ROAD
Internet Plus China is pursuing an "Internet Plus"
action plan that seeks to drive economic growth by integration of
Internet technologies with manufacturing and business
Made in China 2025 "Made in China 2025" is the first 10-
year action plan designed to transform China from a
manufacturing giant into a world manufacturing power.
Belt and Road Initiatives The Silk Road Economic Belt and
21st Century Maritime Silk Road were first introduced to increase markets for Chinese exports and
outward direct investment.
CHINA IN TRANSITION
China’s New Growth EngineCUHK Business School Greta Zhang
