Transforming Towards a High-Income People's Republic of China

Challenges and Recommendations

Business & Finance, Economics, Sustainable Development
Cover of the book Transforming Towards a High-Income People's Republic of China by Asian Development Bank, Asian Development Bank
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Author: Asian Development Bank ISBN: 9789292578046
Publisher: Asian Development Bank Publication: June 1, 2017
Imprint: Asian Development Bank Language: English
Author: Asian Development Bank
ISBN: 9789292578046
Publisher: Asian Development Bank
Publication: June 1, 2017
Imprint: Asian Development Bank
Language: English

The People's Republic of China (PRC) has experienced stellar economic performance over the last 3 decades. Gross domestic product growth has averaged 10% per year. Per capita income has increased by a factor of 13. Life expectancy at birth increased from 67 to 73 years. Rapid growth, however, has posed eight challenges for the PRC: industrial transformation, balanced rural-urban development, human resource transformation, environmental protection, climate change mitigation, water security, subnational debt management, and further integration with the international economic system. In 2013, the Asian Development Bank helped the PRC prepare the 13th Five-Year Plan 2016-2020. This report summarizes key issues and recommends practical policy options to address the PRC's challenges.

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The People's Republic of China (PRC) has experienced stellar economic performance over the last 3 decades. Gross domestic product growth has averaged 10% per year. Per capita income has increased by a factor of 13. Life expectancy at birth increased from 67 to 73 years. Rapid growth, however, has posed eight challenges for the PRC: industrial transformation, balanced rural-urban development, human resource transformation, environmental protection, climate change mitigation, water security, subnational debt management, and further integration with the international economic system. In 2013, the Asian Development Bank helped the PRC prepare the 13th Five-Year Plan 2016-2020. This report summarizes key issues and recommends practical policy options to address the PRC's challenges.

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