China's Challenges in Moving towards a High-income Economy

With its per capita income surpassing US$10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential. Be...

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description With its per capita income surpassing US$10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential. Besides these constraints, the year 2020 saw human societies hit heavily by the COVID-19 pandemic and the global economy caught off guard and dipped into recessions caused by lockdown measures for controlling the spread of the pandemic. Nations around the world have experienced grave loss of human life and lockdown measures have knocked economies from their normal growth trajectories. Even as the pandemic continues to unfold, all signs point to China as being the first major economy to have emerged out of the crisis. But many questions remain. Has the Chinese economy emerged from the pandemic crisis relatively unscathed? What are the long-term prospects for its economy? This year's Update book, China’s Challenges in Moving towards a High-income Economy, explores the challenges faced by the Chinese economy in the transition towards a high-income economy, including agricultural development, finance and fiscal system reform, RMB internationalisation, trends in urbanisation, as well as topics related to innovation, corporate sector development and market competition. China’s growth experience has been full of exciting changes and important lessons for reform and structural changes, and this year’s China Update is again the way to gain insights into these.
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spelling doab-20.500.12854ir-720912025-08-13T14:11:09Z China's Challenges in Moving towards a High-income Economy Song, Ligang Zhou, Yixiao China Business economics Chinese Economy High-Income thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics With its per capita income surpassing US$10,000, China has now drawn up ambitious plans to further lift its income to the level of developed countries. Yet various constraints need to be overcome if China is to build on the achievements of the last 40 years and further boost its growth potential. Besides these constraints, the year 2020 saw human societies hit heavily by the COVID-19 pandemic and the global economy caught off guard and dipped into recessions caused by lockdown measures for controlling the spread of the pandemic. Nations around the world have experienced grave loss of human life and lockdown measures have knocked economies from their normal growth trajectories. Even as the pandemic continues to unfold, all signs point to China as being the first major economy to have emerged out of the crisis. But many questions remain. Has the Chinese economy emerged from the pandemic crisis relatively unscathed? What are the long-term prospects for its economy? This year's Update book, China’s Challenges in Moving towards a High-income Economy, explores the challenges faced by the Chinese economy in the transition towards a high-income economy, including agricultural development, finance and fiscal system reform, RMB internationalisation, trends in urbanisation, as well as topics related to innovation, corporate sector development and market competition. China’s growth experience has been full of exciting changes and important lessons for reform and structural changes, and this year’s China Update is again the way to gain insights into these. 2021-10-07T04:01:43Z 2021-10-07T04:01:43Z 2021-10-06T11:52:56Z 2021 book ONIX_20211006_9781760464530_5 OCN: 1269053041 https://library.oapen.org/handle/20.500.12657/50773 9781760464530 https://directory.doabooks.org/handle/20.500.12854/72091 eng China Update Series open access image/jpeg image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/50773/1/book.pdf https://library.oapen.org/bitstream/20.500.12657/50773/1/book.pdf https://library.oapen.org/bitstream/20.500.12657/50773/1/book.pdf ANU Press ANU Press 10.22459/CCMTHE.2021 10.22459/CCMTHE.2021 975ba519-3ce2-4517-95bf-b847729fbcf1 9781760464530 ANU Press 248 Canberra open access
spellingShingle China
Business
economics
Chinese Economy
High-Income
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
China's Challenges in Moving towards a High-income Economy
title China's Challenges in Moving towards a High-income Economy
title_full China's Challenges in Moving towards a High-income Economy
title_fullStr China's Challenges in Moving towards a High-income Economy
title_full_unstemmed China's Challenges in Moving towards a High-income Economy
title_short China's Challenges in Moving towards a High-income Economy
title_sort china s challenges in moving towards a high income economy
topic China
Business
economics
Chinese Economy
High-Income
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
topic_facet China
Business
economics
Chinese Economy
High-Income
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCG Economic growth
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCM Development economics and emerging economies
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVG Environmental economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCP Political economy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCV Economics of specific sectors::KCVJ Health economics
url ONIX_20211006_9781760464530_5