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Economic Expert: China to Seek New Economic Reforms

According to Zhang Monan, a researcher from the Economic Forecast Department of the State Information Center, China faces difficulty maintaining the economic growth it has experienced over the past 30 years. Since the beginning of this year, China has seen an overall decline in investments, exports, and spending as well as in company’s profit margins, revenue, and production volume.

Zhang believes that China no longer has the advantage of being a low cost and narrow margin market. She suggested that reforms should start with breaking up the monopolies in energy resources and in the power structure; adjustments need to be made in the existing interest groups in China; government intervention should be minimized; and collaboration among all channels must be encouraged in order to work together to find a model that is suitable.

Source: China News Review, December 1, 2012