ABSTRACT
After three decades of rapid growth and transformation, China’s economy is pursuing a new transition: from investment-driven to consumption-driven, from resource-intensive to technology-dependent, and from primarily extensive growth to efficiency-based and more coordinated development. The success of such transition depends on considerable progress on multiple fronts, such as enhancing domestic demand, improving social security, encouraging innovation, industrial upgrading, reducing the rural–urban income gap and gaps among regions, and promoting environmentally sustainable growth.
