日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Chinese economy adjusting to 'new normal'

(Xinhua) Updated: 2015-08-13 15:52

BEIJING - Jinjiang used to be a manufacturing boomtown, a place making shoes and garments for American and European supermarket shelves.

But these days, the city on China's southeast coast, like many of its manufacturing bases, is losing its edge because of rising wages and lack of product innovation.

"I'm considering moving to Bangladesh," said Lin Genghuang, a Jinjiang native who owns a shoe factory. "Business is barely holding up here."

Lin said the company's export volume is still climbing, but rising wages, the appreciation of the yuan and intense price competition are squeezing the already paper-thin profit margin.

After China's World Trade Organization accession in 2001, cheap labor has fueled its export boom and powered the economy to become the world's second largest. But China's manufacturing sector is running into problems these days: squeezed from one end by markets with even lower labor costs, such as Vietnam and Malaysia, and yet struggling to move to a higher value chain because of intensified competition from developed nations.

Some 3,000 km away from Jinjiang, in the northeastern city of Harbin, a deepening economic malaise is forcing companies to reinvent themselves to survive.

Harbin Boiler Company Ltd, a state-owned thermal power equipment manufacturer, is experiencing double blows -- the slowing economy and a national campaign to curb pollution and cut emissions.

With orders falling and profits shrinking, the company has no choice but to change, its president, Wang Dexing, said.

To improve competitiveness, the company is striving to develop new products, expand markets in emerging economies and tap into new businesses such as sea water desalination, nuclear power equipment and environmental protection.

This is a part of China's broader economic reality: Anemic economic momentum is driving the government to seek new sources of growth while forcing domestic and multinational companies to look for a Plan B.

Weighed by a property market downturn, cooling investment growth and unsteady demand both at home and abroad, China's economy has stumbled during the past two years and is widely expected to post its weakest growth in a quarter of a century this year.

Although growth is slowing, it is more balanced and sustainable -- a "new normal," as it is called by Chinese President Xi Jinping.

Under the "new normal," the importance of growth speed is eclipsed by immensely complex structural reforms going on to transform the economy to one that relies more on the services sector, domestic spending and innovation.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产日韩在线播放 | 玖玖玖视频 | 亚洲永久精品在线观看 | 婷婷影音| 五月婷婷丁香激情 | 天堂av一区二区 | 亚洲天堂一区在线观看 | 亚洲欧美日本在线 | 日本免费不卡视频 | 日韩欧美www| 亚洲午夜精品久久久 | 午夜影院h | 伊人网在线 | 不卡av一区二区 | 免费黄色片网站 | 欧美一区二区在线播放 | 污污视频在线观看免费 | av青青| 手机看片日韩 | 一级黄色大片免费观看 | 日韩不卡一区 | 亚洲精品少妇久久久久久 | 一区二区精品在线观看 | 日韩男人天堂 | 蜜色视频 | av高清在线 | 久久视频免费观看 | 国产一区精品在线观看 | 色网站在线观看 | 日韩一区二区精品 | 成人h网站| 日本黄色www | 91免费看国产 | 在线国产一区二区 | 四虎影视在线观看 | 新黄色网址 | 欧美三区视频 | 日本在线www | 久久九九国产 | 欧美成人自拍视频 | 成年人国产视频 |