Following 3 decades of exceptional economic growth, the People’s Republic of China (PRC) is now regarded as an upper middle-income country.
The PRC will focus on improving quality and efficiency, and give even greater priority to shifting the growth model and adjusting the structure of development. Development challenges include promoting economic development, protecting the environment, tackling regional disparity, and allowing the market to determine resource allocation. The PRC is aiming to, among others, deepen its public finance reform, improve the financial market, promote state-owned enterprises reform, and encourage greater private sector participation.
With a focus on innovation and value addition, ADB has combined its support for infrastructure with areas such as technical and vocational education and training, provision of municipal services, and environmental improvement.
1,367.82(2014) Population in millions
0.5%(2009-2014) Average annual population growth rate
8.5%(2013) Population living below the national poverty line (Differs from standard definition; or refers to only part of the country)