China’s Industrial Transition and Upgrade to Sustainable Growth Model

JIN Bei

Director and Professor, Institute of Industrial Economics Chinese Academy of Social Sciences
Abstract: China’s transition to sustainable growth model in the coming years depends on the ability of its industrial sector to adapt and innovate. In the 11th Five-Year Plan period, China entered the
intermediate stage of industrialization and crossed the threshold to become a middle -income country. China’s current industrial structure, therefore, which is still characteristic of early-stage industrialization, must transition to support intermediate and advanced industrialization. Although resource constraints will pose certain hurdles for this transition, the pressure of these constraints will ultimately serve to catalyze, rather than impede, sustainable industrial growth. Furthermore, industrial transition and upgrade will mean not only changes for the nation’s industrial structure as a whole but also rethinking the strategic possibilities and direction of industry at the enterprise level. The key to success rests on China’s ability to improve indigenous development and boost competitive advantage in international markets through the use of new, advanced technologies.

Key words: industrial transition and upgrade, modern industrial system, corporate strategy, industrial competitiveness

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