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The Dividend of Reform and the Vitality of Development


The Dividend of Reform and the Vitality of Development

By The Macroeconomic Research Institute of the National Development and Reform Commission (NDRC) Edited by Wang Yiming, DRC


The reform has brought huge dividends to China and will pay more dividends to China in the future. After 30 years of rapid growth, the average per capita income of the Chinese people is among the ranks of upper and middle-level income countries. Consequently, China's demographic dividends, resource dividends and global dividends are gradually phasing out, and their supporting role to economic growth has become weakened. In particular, the international financial crisis has led to the adjustment of the international environment and the transformation of domestic economy. China is facing multiple challenges like the change of pace in economic growth, the difficulties associated with structural adjustments and prominent social contradictions. The fundamental way for generating new dividends lies in deepening reform.

The future period is critical for the reform of China. Only by unswervingly pushing forward the reform, realizing new breakthroughs and building a new dynamic driving system for development can we cultivate and create new dividends after the original dividends become gradually subsided. We need to work harder to push ahead with a powerful driver and an institutional guarantee for building a moderately well-off society in an all-round way, accelerating the socialist modernization, and realizing the great rejuvenation of China.

The book “The Dividend of Reform and the Vitality of Development” gives a systematic illustration of the history of China's reform and development in the past 35 years, and puts forward relevant comments and policy options on the future reform and the release of dividends from five perspectives including accelerating economic transformation, safeguarding and improving people's livelihood, promoting fairness and justice, realizing ecological civilization and releasing market vitality. This book is the first of its kind on theories of reform dividends with a complete research system and a clearly-defined explanation of the essence of reform dividends. In addition, it is also a monograph on the comprehensive multi-disciplinary research results of the reform. The Macroeconomic Research Institute of the National Development and Reform Commission (NDRC) is noted for its advanced study in various fields. The Institute gives, in the book, an in-depth analysis of the key leading to the regeneration of reform dividends and the release of development vitality and makes a comprehensive analysis and interpretation on a number of major issues relating to reform.

This book is divided into seven chapters, including: Reform is the major dividend of China's development; Speeding up the reform of economic restructuring and dividend release; The reform and dividend release relating to the improvement of people's livelihood ;The reform and dividend release relating to the promotion of fairness and justice; The reform and dividend release to achieve ecological civilization; Stimulating the reform vitality and dividend release of the market entities; Reform requires greater wisdom and more courage.