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China’s Economy May Rally up in 2017 through Stable Growth

( drc.gov.cn ) 2017-03-16

China’s Economy May Rally up in 2017 through Stable Growth

By Liu Yong, DRC

At present, as long as China’s economy could maintain an effective growth, the target of realizing national rejuvenation will be met. Thus, the emphasis of future work should be put on structural reform including sustainable development instead of pursuing a too high growth rate.

First, the growth rate of China’s economy in 2016 witnessed a slightly decline compared to that of 2015 but in the meantime, showed a quarterly-based stability and recovery and the important reason is due to the contribution of regional coordinated development strategy. 1. Regional coordinated development has offered an internal impetus for stabilized development. 2. Regional coordinated development has pushed forward structural optimization of economic layout of different sectors of economy, which has laid a sound foundation for China to realize the goal of building a comprehensively moderately prosperous society. 3. Regional coordinated development has ensured the requirements posed by sustainable development.

Second, China’s economy will slightly rally up in 2017, and the reasons are: 1. The CPC Central Committee will have re-election in 2017 and the new Central Committee will continue to play its leading role in China’s social and political life. 2. China’s economy picked up in the fourth quarter of 2016 and the economic development will maintain its growth momentum propelled by proper policies. 3. The structural adjustment of newly-emerged less-developed countries to expand their domestic demand and the gradual formation of diversified international trade mode will effectively resolve the negative impacts brought about by various forms of anti-globalization moves. 4. The regional economic coordinated development will continue to play its irreplaceable role in stabilizing development and restructuring, including properly stabilizing the economic growth rate of the eastern region, and continuing to maintain the relatively high growth rate of the central and western regions. Efforts need to be made to further deepen rural areas reform and enhance the development of new-type urbanization.

 

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