People's Republic of China and ADB
In the Spotlight
At an event in Beijing, ADB President Takehiko Nakao said the People’s Republic of China (PRC) requires further structural reform in its pursuit of high-income status.
A collection of images capturing the spirit of Asia and the Pacific in transition from poverty to greater prosperity as viewed through the lens of renowned photographers from across the region.
Steady consumption and rising external demand will support economic growth in the People’s Republic of China in 2014, especially if the government continues an accommodative macroeconomic policy package, says ADB report.
After more than 3 decades of rapid economic growth that significantly reduced poverty and lifted living standards, the People’s Republic of China (PRC) has transformed into an upper middle-income country. Nevertheless, significant development challenges remain, many of which are associated with urbanization, regional and rural–urban disparities, and environmental degradation.
In recent years, ADB has shifted its support from infrastructure to increasing emphasis on “softer” sectors, with an enhanced focus on innovation and value addition. This involves knowledge transfers, and the introduction of new technologies that are responsive to the PRC’s changing circumstances and development needs.
1,360.72(2013) Population in millions
0.5%(2008-2013) Average annual population growth rate
10.2%(2012) Rural population living below the national poverty line