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China’s Top Advisors Propose Advanced Economic Development

Some Chinese government top advisors outlined the strategies for China’s economic development and transformation according to China New Service, which quoted Hong Kong Wen Wei Po’s report. The suggestions included two spaces (internal demand space and innovation space), four strategies, and four economic transforming paths.

Four strategies:
1. Expand internal demand: developing and advancing consumer demand.
2. Industry transformation and upgrade: increasing mid- to high-end industries’ competitiveness.
3. Human resource quality improvement: expanding the job market, improving social benefits, education and training.
4. Saving energy.

Four economic transformation paths:
1. Retrain jobless farmland laborers as city laborers.
2. Develop the manufacturing industry in the area of R&D, design, brand development, supply chain, and post-sales service.
3. Increase the service industry’s percentage of GDP.
4. Put more information technology into operation in the industrial sector.

Source: China News Service, February 26, 2010