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2011 China's Economic Pformation In 12Th Five-Year

2011/3/1 11:18:00 46

Two Sessions Of China's Economic Pformation

Editor's note: this year's national "

Two sessions(NPC and CPPCC)

"Will be unveiled on Thursday.

The main themes of the past two sessions have been the main thread of the current policy trend, and this year's "two sessions" have special significance. On the one hand, this year is the beginning of the year 12th Five-Year. On the other hand, China's economy is in an important period of pformation.


On the occasion of the upcoming "two sessions", we will look forward to the "two sessions" from different perspectives in the light of the capital market.


The annual "two sessions" will be unveiled this week.

This year is the beginning of the year 12th Five-Year. The macro and industrial policies defined by the two sessions will directly affect the economic development of the whole year and even in the next few years. Therefore, this year's "two sessions" are particularly concerned.

From the "two sessions" held in recent years, it has become a consensus to reduce economic growth, structural adjustment and foster new economic growth points.


Weakening GDP growth indicators


In the recent "two sessions" held in recent years, a noteworthy phenomenon is that, compared with the "11th Five-Year plan", most provinces and autonomous regions have lowered their economic growth targets.

During the "11th Five-Year" period, Guangxi

Gross domestic product

The average annual growth rate was 13.7%, while in the 12th Five-Year plan, the average annual growth rate was 10%.

Inner Mongolia's "11th Five-Year" GDP grew by 17.6% annually, while the "12th Five-Year" growth rate dropped to 12%.

Beijing, Shanghai, Guangdong, Zhejiang and other eastern provinces are also targeting GDP growth to single figures.


"Lowering the GDP growth rate everywhere shows that the local government has downplayed the total target of the scale and strengthened the determination of structural adjustment and industrial upgrading."

Gu Shengzu, vice chairman of the Standing Committee of the National People's Congress and the Central Committee of the people's Republic of China, said that if the pformation from the low income country to the middle-income country in the past was called the first pformation, the biggest problem facing China in the next 10 years or even 30 years is whether it can cross the "middle-income trap" and successfully realize the second pformation from a middle-income country to a high-income country.


Gu Shengzu stressed that abundant and cheap labor resources are the important factors to support the first pformation of China's economy, but in recent years, the increasingly prominent problem of "labor shortage" means that this development advantage is gradually disappearing.

An important task of "12th Five-Year" is to plan economic pformation, change the economic development model which has long been relying on cheap labor force, identify the new source of power for economic growth, realize endogenous economic growth and innovation drive, and cultivate new economic growth points.


Explore new economic growth point


It is reported that an important agenda for this year's "two sessions" is to approve the "12th Five-Year plan" to draw a blueprint for economic and social development in the next five years.

In the 12th Five-Year plan, strategic emerging industries have been identified as one of the key points of planning, and the development direction, strategic priorities and major initiatives of the industry will also be determined.


In fact, in terms of nurturing new growth points, from various government work reports and planning outlines, relevant provinces and cities have also begun to actively layout, and are generally enthusiastic about emerging industries.


Guangdong will invest 536 billion yuan in modern industrial construction projects in the next five years, and in 2011, it will focus on promoting the construction of 100 strategic emerging industries.

Fujian promoted the development of industrial clusters, urban agglomerations and port groups as a breakthrough.

economic structure

Strategic adjustment.

Hunan has proposed to accelerate the pformation and upgrading of traditional manufacturing industries this year, speed up the expansion of strategic emerging industries and cluster development, vigorously promote technological innovation and accelerate the expansion of the scale of the service industry.


The latest research report released by the Oriental Securities Institute pointed out that in the light of the current industrial foundation and the law of industrial development, the pformation and development of the future economy will be based on the development of the new generation of information technology and new material industry.

Gu Shengzu also pointed out that the key to promoting the second pformation of China's economy in the period of 12th Five-Year is to explore new sources of power for economic growth and push the economy into the orbit of innovation driven and endogenous growth.

To this end, innovation should first become a new driving force for economic growth.

We should enhance the enthusiasm of innovation and entrepreneurship in the whole society through the improvement and perfection of the policy system of innovation and entrepreneurship, especially the entrepreneurial spirit of entrepreneurs.

Secondly, we should vigorously develop strategic emerging industries, services and infrastructure industries, cultivate new sources of economic growth, pform low-end industries into middle and high-end industries, and enhance competitiveness in the global value chain.

He also believes that as an important aspect of economic pformation, expanding consumer spending, encouraging private investment, and implementing a positive urbanization strategy are also powerful engines for China's sustainable economic development.

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