China's Economic Development Situation in 40 Years of Reform and Opening-up and Expectation in Its Transition and Upgrading at New Era


2019-07-03 03:12

Lin Yifu
West Forum

Abstract: China's reform and opening-up for 40 years create the miracle of the global economic development, which is China's contribution to the world. After 40 years high speed growth, the 19 thNational Congress of CPC has made important inference and pointed out that China has entered into new stage. Under this real background, it is very important to accurately master China's future development trend. After reform and opening-up, China can realize annually average 9. 5% growth for 39 years and its growth is double level higher than “normal growth”, whose cause is that China, as a developing country, China has “the advantage of latecomer”. Under China's overall development situation, as a middle-level developed economic entity, in new era, China 's economic development key lies in developing real economy. After Chongqing became the municipality directly under the central government, although Chongqing's development underwent all kinds of setbacks, Chongqing's development still leads that of China. Chongqing should continue to take this development opportunity, continue to lead the economic development of the whole country, and make contribution to great national rejuvenation of China.

Keyword:China; reform and opening-up; new era; new structural economics; latecomer advantage; real economy;

The Chinese version appeared in West Forum, 2018(06).


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