The Economic Of China In The Past Five Years

First of all , Let’s know some news from the internet : China faced severe challenges over the past five years, from the global financial crisis to massive earthquakes. However, the steps in the ongoing development, under the leadership of the Communist Party of China Central Committee, have never stopped.

There are some facts and figures on the development of China during the period.

It is reported that China posted an annual GDP growth of more than 10 %, while the GDP per capita exceeded 4,000 U.S. dollars.

As we can see from the news that progress was made in socialist democracy and law-based government administration, the culture industry and social construction.

The next is that we will talk something about the livelihoods of people.People’s livelihoods were improved with a series of efforts in education, employment, income distribution, social security and health care.

Exchanges between China and the rest of the world were enhanced through events such as the Beijing Olympic Games, Shanghai World Expo and Guangzhou Asian Games.

It is reported that the central government introduced flexible, timely and forceful measures, based upon the changing domestic and international economic environment in the past five years.

The focus of economic control was shifted from preventing economic overheating and inflation to ensuring economic growth, people’s livelihoods and stability.

Fiscal policy was changed from “neutral” to “proactive”, while monetary policy went from “prudent,” “tight,” “moderately loose” and then back to “prudent.”

The government’s flexible and effective response to the global financial crisis quickly reversed China’ s economic growth slowdown, realizing a V-shaped rebound and prompting the country to take the lead in the worldwide economic recovery.

In the past five years, China’s economy has maintained a stable and relatively fast expansion. Its GDP is expected to surpass 5.74 trillion U.S. dollars in 2010, more than double that in 2005.

The central and local governments took a series of measures in expanding demand, boosting consumption, promoting independent innovation, and developing emerging industries of strategic importance, in an effort to accelerate the transformation of its economic growth mode.

Efforts were made to better coordinate urban and rural development, deepen reforms in taxation and pricing mechanisms, and allow private capital to invest in more areas.

The government also enhanced policy support to promote the development of the culture industry, which accounted for 2.5 % of the nation’s GDP in 2009, up 0.4 percentage points from 2004.

Meanwhile, more efforts were made to encourage employment, perfect income distribution, improve social security, medical treatment and public health, to improve people’s livelihoods.

Further, the government also intensified its efforts to promote low-carbon technologies and develop a recycling economy, to build a resource-saving and environmentally-friendly society. SABUNG AYAM