Title Innovative China
Subtitle New Drivers of Growth
Author World Bank Group, Development Research Center of the State Council, The People’s Republic of China
ISBN 9781464813351
List price USD 45.00
Price outside India Available on Request
Original price
Binding Paperback
No of pages 186
Book size 203 X 267 mm
Publishing year 2019
Original publisher The World Bank
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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After more than three decades of average annual growth close to 10 percent, China’s economy is transitioning to a ‘new normal’ of slower but more balanced and sustainable growth. Its old drivers of growth – a growing labor force, the migration from rural areas to cities, high levels of investments, and expanding exports – are waning or having less impact. China’s policymakers are well aware that the country needs new drivers of growth. This report proposes a reform agenda that emphasizes productivity and innovation to help policymakers promote China’s future growth and achieve their vision of a modern and innovative China. The reform agenda is based on the three D’s: removing Distortions to strengthen market competition and enhance the efficient allocation of resources in the economy; accelerating Diffusion of advanced technologies and management practices in China’s economy, taking advantage of the large remaining potential for catch-up growth; and fostering Discovery and nurturing China’s competitive and innovative capacity as China approaches OECD incomes in the decades ahead and extends the global innovation and technology frontier.




Executive Summary



Chapter 1: China’s Rapid Growth and Evolving Economy • An economy already transforming • A rapidly changing and more uncertain global environment • Notes • References

Chapter 2: The Need for New Drivers of Growth • Investment’s diminishing contribution to growth • Labor’s diminishing contribution to growth • Notes • Bibliography

Chapter 3: The Productivity Challenge • Promoting new drivers of growth through the “3+6+7” reform agenda • The three D’s • Six strategic choices • Seven critical reform areas • The impact of reforms on future growth • Notes • Bibliography

Chapter 4: Reshaping Industrial Policies and Supporting Market Competition • Industrial policies to support market competition • Promoting greater competition in the services sector • Promoting entrepreneurship and improving the business climate • Ensuring fair competition and reforming state-owned enterprises • Notes • Bibliography

Chapter 5: Promoting Innovation and the Digital Economy • China’s rapidly increasing innovation capacity • Promoting the diffusion of innovation and technology • Improving research and development • Improving intellectual property policies • Improving the management of innovation policies • Supporting innovation driven by digital diffusion • Promoting data trade and data flow • ICT telecommunications infrastructure • Notes • Bibliography

Chapter 6: Building Human Capital • Technology’s impact on China’s labor market • Building universal foundational skills • Creating a world-class higher education system • Teaching creative thinking and problem solving • Using technology to teach creativity and problem solving • Strengthening technical and vocational education and training • Promoting lifelong learning • China’s new education sector strategy • Notes • Bibliography

Chapter 7: Allocating Resources Efficiently • China’s financial sector developments • Financing small and medium enterprises and entrepreneurs • Facilitating free flows of labor • Notes • Bibliography

Chapter 8: Leveraging Regional Development and Integration • Reducing spatial frictions in factor markets • Nurturing and connecting economic clusters • Notes • Bibliography

Chapter 9: Promoting International Competitiveness and Economic Globalization • China’s integration into the global economy and rising competitiveness • Major challenges and opportunities • Policy recommendations • Notes • Bibliography

Chapter 10: Governing the Next Transformation • Toward a new state-market relationship • Strengthening regulatory governance • Aligning the government’s incentives with the needs of the new economy • Reforming intergovernmental relations and tightening fiscal discipline • Improving public sector transparency and accountability • Notes • Bibliography




Target Audience:

This book will be useful to people interested in new policy changes/reforms agenda that emphasize productivity and innovation to promote China’s future growth and achieve their vision of a modern and innovative China. Also useful to people interested in economic growth, sustainable development and labour studies.

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