KIEP Newsletter Vol. 5 No. 24 | December 8, 2017 | Print

KIEP Surmounting Global Challenges, Creative Response! Korea Institute for International Policy (ISSN: 2288-0348)

KIEP PUBLICATIONS

Chinese Industrial Development and Policy Adjustment in Anaphase of Industrialization Jianwei Xu / World Economy Brief 17-23

Through nearly forty years rapid development, China has entered the anaphase of industrialization. With the changes of factor conditions and development environment, the traditional industrial development model is encountering serious bottleneck restriction. Meanwhile, the growth power of industry tends to weaken gradually. The thirteenth five-year plan period is the key period of realizing industrialization. Industrial development formation will experience deep adjustment not only including the changes of proportion and speed, but also including the changes of industrial structure, development mode and driving factors. Therefore, the government should timely adjust industrial policy, focus on accumulation of innovation elements and optimization of innovation environmental, and allow the market to play a decisive role in resource allocation.

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