Transforming Towards a High-Income People's Republic of China: Challenges and Recommendations
Rapid growth has led to improvements as well as challenges in the People's Republic of China. This report summarizes findings and policy recommendations for the government's 13th Five-Year Plan.
The People’s Republic of China (PRC) has experienced stellar economic performance over the last 3 decades. Gross domestic product growth has averaged 10% per year. Per capita income has increased by a factor of 13. Life expectancy at birth increased from 67 to 73 years. Rapid growth, however, has posed eight challenges for the PRC: industrial transformation, balanced rural–urban development, human resource transformation, environmental protection, climate change mitigation, water security, subnational debt management, and further integration with the international economic system. In 2013, ADB was invited to provide inputs to support the preparation of the 13th Five-Year Plan (2016–2020). This report summarizes key issues and recommends practical policy options to address the PRC’s challenges.
- Industrial Transformation
- Balanced Development of Rural and Urban Areas
- Human Resource Transformation
- Environmental Protection
- Mitigation and Adaptation of Climate Change
- Water Security
- Subnational Debt Management
- Further Integration of the People’s Republic of China with the International Economic System
- Implementation of the 13th Five-Year Plan