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

China transition deserves global patience

(Xinhua) Updated: 2016-02-19 14:23

BEIJING - "Patience is bitter, but its fruit is sweet." The adage from Jean-Jacques Rousseau should be made familiar to those impatient with China's economic transition.

Pessimism may prevail as China's growth eases, but rewards will go to those with confidence and patience.

Rapid growth over the past few decades has catapulted China into the position of being the world's second-largest economy, showering benefits on global investors as well as the country's own people.

But the investment-led model that propelled the development has reached its limits. A multitude of problems -- high debt levels, industrial overcapacity and environmental degradation at home and subdued global demand -- mean an imperative of bringing the economy onto a more sustainable path.

The answer is transforming the economy into one that draws strength from consumption, services and innovation.

Such a transition is bound to be painful and protracted. As China trades quantity for quality, double-digit growth of the economy would not be easy.

Worries about China's economic future have always been a facile explanation for the world's hardships, including the global market rout last week.

It would be more advisable for people to stop playing the blame game and take time to see the Chinese economy in perspective.

Firstly, China has been proactively retooling its economy, before too late. The country is trying to pull off a managed slowdown -- a rebalancing act that requires wisdom, vision and courage.

The reform strategies and measures crafted by policymakers so far indicate that China is progressing in the right direction.

The country is not content with being the world's factory and is toiling for industrial upgrades; the market is promised a decisive role; unprofitable "zombie" enterprises have been ordered to make earlier exits; carbon taxes have been introduced to encourage clean energy technologies.

Secondly, China's growth is still relatively fast. The newly-added economic output in 2015 was more than the GDP of Sweden or Argentina.

IMF data showed China contributed 35 percent of the world's economic growth in the past five years and the figure will stay around 30 percent in the years leading to 2020.

Thirdly, there have been signs that the efforts for more sustainable growth are paying off.

In 2015, consumption contributed 66.4 percent of China's GDP, up 15.4 percentage points from 2014. Hi-tech industry developed much faster than the industrial sector as a whole and energy consumption per unit of GDP is falling.

The momentum is marked. During the Spring Festival holiday week, for example, cinemas took 3 billion yuan ($460 million), up 67 percent from last year.

Official data on Thursday also offered relief. Consumer inflation picked up in January and the contraction in producer prices eased.

National lawmakers will in March convene to discuss issues that have significant bearing on economy and society, with the 13th Five-Year Plan to 2020 being unveiled.

As China stays committed to the painful but necessary reforms, a more robust economy is likely within reach.

That merits patience.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 四虎最新网址在线观看 | www久久com| 日韩黄色片网站 | 免费在线日本 | 四虎影视在线 | 成人av免费在线 | 国精品人伦一区二区三区蜜桃 | 中文字幕亚洲成人 | 九九九国产 | 亚洲四虎影院 | 午夜久久久久 | 中国美女毛片 | 亚洲国产高清在线 | www网站在线观看 | 国产最新av| 久久免费在线 | 亚洲最大成人在线 | 黄色片子免费看 | www97| 免费观看黄一级视频 | 亚洲精品日韩欧美 | 一级片视频在线观看 | 亚洲五月花 | 亚洲精美视频 | 成人在线激情视频 | 日韩综合久久 | 国产91福利 | 亚洲欧美综合一区 | 欧美99| 亚洲成人影院在线观看 | 黄色片aaaa| 日本亚洲国产 | 日本成人福利视频 | 日本免费一区二区三区四区 | 懂色av一区二区三区四区 | 国产精品婷婷午夜在线观看 | 欧美先锋影音 | 久久99亚洲精品 | 国产精品久久久久久69 | www国产精品 | 精品国产视频 |