Abstract
Since 2015, China's economic performance has initially exhibited characteristics with enhancing quality and increasing efficiency in economic new normal. This article, based on economic operation status since 2015 under the logical framework of economic development with “recognizing the new normal, adapting the new normal, guiding the new normal and exploring the new normal,” aims at commenting on and forecasting for China's current and recent macroeconomic development from the following ten perspectives of economic growth, indigenous innovation, industrial structure, ecological environment, regional coordination, people's livelihood improvement, mixed ownership, financial development and coordination between market and government.
Highlights
Since 2015, China’s economic development has entered the new normal under which there is a steady development trend springing from China’s economy in the recent years
China’s economic new normal was initially characterized as a medium high rate of GDP growth
In the six years between 2002–7, GDP growth has increased by more than 10%, and in 2007 GDP growth hit the highest record of 14.2%
Summary
Since 2015, China’s economic development has entered the new normal under which there is a steady development trend springing from China’s economy in the recent years. Economic growth is based on transferring more industrial innovative results into real industrial activities in order to cultivate and formalize new growth points; on the other hand, China needs to perfect the relative laws and regulations concerning scientific and technological innovation so as to protect and encourage the innovative activities of businesses, to cultivate the market innovation mechanism, and in turn to let government, enterprises, scientific research institutes, education departments and labors and workers play full and active role to enhance human capital quality and scientific and technological progress.
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