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China's Progress Towards High-quality Development

China's Progress Towards High-quality Development

May 30, 2019

Sheng Laiyun, deputy director of the National Bureau of Statistics: highlights the five major development trends in the high-quality development stage

“Since China has moved towards the stage of high-quality development, the five major trends have been highlighted. Enterprises must firmly grasp or lead the big logic of high-quality development.” The deputy director of the National Bureau of Statistics, Sheng Laiyun, held 2019 (tenth The first session of the Chinese business Mulan annual meeting said.

Sheng Laiyun believes that since China's progress towards high-quality development, the five major trends have become increasingly prominent.

First, the industrial structure is being led by industry to the service industry, and the productive service industry and the life service industry are accelerating. In the three industrial sectors in 2013, the proportion of the service industry exceeded the second production for the first time. In 2015, it exceeded 50% for the first time, reaching 51.6% in 2016 and 52.2% in 2018. The industrial leading to the service industry led the transformation, which is the inevitable industrial upgrading trend in the middle and late stages of industrialization. The developed countries have experienced this transformation process. At present, the service industry in developed countries accounts for more than 50%, and the United States is as high as 78%. China's service industry has a broad space for development.

Second, the demand structure has shifted from investment-led to consumption-driven. The relationship between investment and consumption is unreasonable and has been plaguing China's economic rebalancing. Since the 18th National Congress of the Communist Party of China, under the initiative of the government and the market, the demand structure has undergone profound changes. In 2014, the contribution rate of final consumption expenditure to economic growth reached 48.8%, exceeding the formation of fixed capital; the contribution rate of consumption to economic growth reached nearly 60% in 2017, and reached 76.2% in 2018. Consumption has become the driving force for economic growth. Main power. Changes in the structure of demand not only increase the coordination and sustainability of economic operations, but also have a crucial impact on growth, employment and industrial policies, and have a significant impact on corporate decision-making. Only by focusing on consumption upgrades and adjusting product and service structures in a timely manner can the vast number of enterprises be in an invincible position. China has a population of nearly 1.4 billion and a middle-income group of more than 400 million people. Consumption is at a critical stage of upgrading. New consumption is on the rise, and the desire to pursue a better life is on the way, so the potential for consumption is unlimited, and the space for enterprise upgrading is unlimited. 

The third is the conversion of traditional kinetic energy to new kinetic energy. The “distribution suit” reform has stimulated the vitality of market players and improved the business environment. The development of information technology, especially Internet technology, has not only revived the youth and vitality of the vast traditional industries, but more importantly, it has spawned a large number of new industries. New business and new models are booming. The “three new” added value accounted for 15.7% of GDP in 2017 and 16% in 2018. “Internet +”, big data + and smart + winds are surging, and are infiltrating into various industries at a double-digit growth rate. Along with the wave of the fourth industrial revolution, the industry and service industries are accelerating toward the middle and high-end, and new technologies and new kinetic energy are profoundly changing our production methods and lifestyles. Enterprises must keep up with the direction of new technology development and the direction of national industrial policy support, and constantly expand new heights of new space. 

The fourth is the shift from high resources and high consumption to green sustainable development. The whole country is implementing the new development concept in depth, firmly establishing the green development concept of “Green Water Qingshan is Jinshan Yinshan”, and continuously strengthening environmental protection and environmental protection supervision. The traditional development mode based on resource consumption is taking place. Variety. In 2018, the energy consumption per unit of GDP decreased by 3.1% on the basis of a 20.9% decline in the past five years, PM2.5 decreased by 9.3%, and the proportion of fine air days increased by 1.3 percentage points. Enterprises must integrate environmental protection concepts into all aspects of production and management, so that they can have unlimited vitality, otherwise they will be eliminated sooner or later. 

Fifth, domestic competition is mainly shifting to a higher level of opening up to the outside world. China is the second largest economy in the world, and its contribution rate to world economic growth is as high as 30%. China's economy has been deeply integrated into international integration. Entrepreneurs must have a global vision. They must keep a close eye on the new demands of world demand and competition, and produce and operate according to international standards in order to become an excellent enterprise that crosses the world economic cycle. We must firmly grasp the new opportunities of world integration and deep adjustment of the world pattern, seize the new business opportunities of the “Belt and Road” construction, and seize the new opportunities of opening up to develop and grow in the competition.