国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Rewards and risks in China's Five-Year Plan

(Xinhua) Updated: 2016-03-12 13:38

Michael Spence, a Nobel prize winner in economics, told Xinhua while the biggest challenge is to keep growth in the neighborhood of 6.5 and 7 percent before 2020, the completion of structural changes and supporting reforms are more important.

While it remains to be seen how China will balance growth and reforms, investors are excited by a new wave of opportunities brought by the country's yearning for quality growth.

Supply-side reform, innovation, technological upgrades, market competition, more efficient state-owned enterprises and low fossil-fuel dependency have all been given pride of place in the latest five-year plan.

China's expenditure on research and development in the next five years will be 2.5 percent of the GDP, up from 2 percent last year. This increased investment will support sophisticated projects such as deep space exploration and robotics.

China's emphasis on innovation-driven growth has particularly cheered other innovative economies.

"The United Kingdom offers a mature, proven system that promotes innovation and our two countries can take cooperation to a new level," Jeff Astle, executive director of the China-Britain Business Council (CBBC), told Xinhua.

A report on the "Made in China 2025" initiative for British companies to work with Chinese companies will be released at a CBBC forum on innovation later this month in the port city of Tianjin.

Chen Qihua, vice president of Caterpillar Inc and chairman of Caterpillar China, said the higher premium China has placed on innovation, smart manufacturing and energy saving means more collaboration opportunities for the company.

"We are optimistic about China from a long-term perspective," Chen said.

Given the inherent hit-or-miss nature of innovation, however, patience is also advised.

"Innovation doesn't work the way low-cost manufacturing does," Kuhn said. "Innovation cannot be legislated. An innovation-based economy must accept failure as a necessary part of the process."

"The most effective and robust policy to facilitate China's transition is greater competition," he said.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
阿拉善左旗| 岱山县| 北票市| 唐海县| 宽甸| 芦山县| 即墨市| 西藏| 石阡县| 衡阳市| 抚松县| 绿春县| 五河县| 镇安县| 利津县| 淳化县| 连城县| 双江| 鄱阳县| 霍城县| 黄山市| 紫阳县| 西丰县| 秭归县| 合阳县| 星座| 全椒县| 海南省| 汉阴县| 汽车| 稷山县| 玉山县| 公安县| 潼南县| 陕西省| 贡山| 隆化县| 如东县| 濮阳市| 嘉禾县| 古蔺县|