tate onto economic development and introduce reform and opening up. the reform of sociallist economy system has scored remarkable achievements over the past 30 years,the productive forces has rapidly increased, and economic growth has improved significantly, which was the fourth in the world, and soon promoting at the first three. The people's living standards as a whole was a substantial increase.
3. Issues and Challenges for Sustaining Growth
Economic strength increased substantially. The economy sustained steady and rapid growth. The GDP expanded by an annual average of over 10%. Economic performance improved significantly, national revenue rose markedly year by year, and prices were basically stable.
However,sustained economic growth has brought a series of problems such as the issues of agriculture,farmer and rural area,Employment issues, structural contradictions in economic growth, regional differences, as well as the uneven distribution of income and other issues.
China's rapid economic growth in the larger environment, the questions of farmers, agriculture and rural issues has not been fundamentally improved and resolved, which has a great impact on the socio-economic sustainable and stable development.This is mainly reflected in: (1) over agricultural population caused productivity overcapacity; (2) lack of demand for commodities; (3) a per-capita resources too few restricted revenue growth, (4) transfer payment as a result of population pressure would be too great a financial pressure (5) impacting on social stability. At present, China's land need only 100 million labor force,but the rural labor force has reached about 550 million, after absorbing 120 million there are still 300 million surplus labour. how to solve the employment problem of 300 million population is still restricting China's economic development as an important reason. Three industrial imbalance, with in particular the first industrial development seriously lagging behind, restricts the sustained economic development. "Giving priority to efficiency with consideration to fairness" distribution discipline led to the gap between rich and poor was too great. Such the income gap also manifestates the gap of the different economic entities and different regions reflect on the gaps and differences, thus affecting the whole macroeconomic balance growth and development. As the market economy an economic competition, the essence of opportunity equality is the opportunities of the requirements of fair and the nature of people or individuals access to micro-economic status, power and wealth provided by social equity. Such problems are China's economic growth in the outstanding problem.
4. State-Business Relations
5. Financial System (depegging the Yuan)
6. Deployment of Capital
7. Regulatory Environment
8. Transparency / Accountability
9.
Corporate Governance10. Corruption
ReferenceChina's Transition: Toward a Market Economy, Civil Society and Democracy. by Xia Li Lollar Author(s) of Review: K. K. Leung,Pacific Affairs, Vol. 71, No. 3 (Autumn, 1998), pp. 407-408.
Report to the Seventeenth National Congress of the Communist Party of China on October 15, 2007
Xiaogang Wu (December 28, 2000) Work Units and Income Inequality: the Effect of Market Transition in Urban China
Hongyi Lai (December 28, 2000) The Political Economy of China's Urban Reforms
Youqin Huang (December 28,
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