By Liu Shijin　

Date: 2003/12/16

Abstract:

After giving an analysis of the characteristics of the high-growth industries that play a leading role for the new round of economic growth, the article held that China is entering a new phase of heavy industry. It illustrated the impact of the characteristics of heavy industry on certain fields of macro-economy and pointed out that the overheating economy should be viewed in light of the changed economic environment and from the angle of market economy and development. It raised some policy suggestions for maintaining the robust industrial growth momentum.