International rating agency Moody released a report on January 8 that most of the 53 rated Chinese state-owned enterprises will gradually reduce their leverage ratio in 2018.
On January 18th, the National Bureau of Statistics revealed that in 2017, China’s gross domestic product (GDP) totaled 82.7 trillion yuan (about 12 trillion U.S. dollars), surpassing the 80 trillion yuan mark. The country’s economy expanded 6.9 percent in 2017, with the pace of growth accelerating for the first time since 2011.
Liu He, a senior Chinese official, Wednesday elaborated on the top-level planning of China’s economic policy for the next few years at the World Economic Forum (WEF) held in this Swiss resort.
The Central Economic Work Conference highlighted the importance of three baseline tasks and eight major tasks, and made specific requirements to lay down the critical foundations and guarantee for the economic work for the coming year and future years.
By setting forth that the country’s economy will be characterized by more innovative manufacturing, a securer financial system, a more open and green economy, more affordable housing and improved standards of living for the people, the annual Central Economic Work Conference in fact mapped out a blueprint for China’s development over the next 30 years and beyond.
In the past four decades, the Chinese economy exhibited exceptional performance. How did China manage these remarkable achievements, and what experience can it share with other developing countries in this regard?
Central Economic Work Conference emphasized the fundamental requirement of China’s economy is high-quality development. Supply-side structural reform is the biggest theoretical and practical driver of high-quality development.
Since the 18th CPC National Congress, historic achievements have been made, historic changes have happened in the party and the state as well as in economic development, providing an important material foundation for historic changes in other fields, Xi said.
Economists and academics have reacted favorably to China’s economic plans for 2018 and the country’s commitment to encourage high-quality development.
The three-day Central Economic Work Conference saw leaders analyze the country’s economic performance this year and map out plans for 2018. Here are seven major features of China’s economy for 2018 to take away from the meeting.
The world economy has fallen into a development slough since the financial crisis. Even though it has also suffered, China’s economy has maintained a relatively high growth rate and helped the world economy to gain a foothold out of the crisis.
John Ross talked about his opinions of China’s politics, economic development and international relations during the Seventh World Forum on China Studies in Shanghai on Sunday.