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The New Normal of China's Economy

China.org.cnUpdated: March 16, 2018

The New Normal of China's Economy

The new normal of China's economy is characterized by: (a) a shift from high growth rates to medium-high growth rates; (b) an on-going process of optimizing and upgrading the economic structure, and narrowing the urban-rural gap, with higher personal income as a share of GDP, and an increasing number of people benefiting from economic development; and (c) a transition from growth driven by input and investment to one driven by innovation. This new normal would likely lead to, among others, a sizable increase in real output despite slower growth; more stable growth with a more diversified array of growth drivers; an increasingly optimized and upgraded economic structure, and more predictable development prospects; and a further revitalized market as result of the on-going move to streamline government and delegate authorities.

中国经济新常态

中国经济新常态的三个主要特点:一是从高速增长转为中高速增长。二是经济结构不断优化升级,城乡区域差距逐步缩小,居民收入占比上升,发展成果惠及更广大民众。三是从要素驱动、投资驱动转向创新驱动。新常态给中国带来的影响主要包括:经济增速虽然放缓,实际增量依然可观;经济增长更趋平稳,增长动力更为多元;经济结构优化升级,发展前景更加稳定;中国政府大力简政放权,市场活力进一步释放。

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