China’s Industries in the Beginning of Its 12th Five-Year Plan Period*

Jin Bei
Institute of Industrial Economics, Chinese Academy of Social Sciences (CASS), Beijing, China
Abstract: Complex international and domestic economic scenarios and the short cyclical nature of macroeconomic policies characterizes the beginning year of the 12th Five-Year Plan period. It reflects the difficult policy choices that arise among three major regulatory targets for growth, structure, and prices. In the transitional period of intertwined challenges, a spirit of commitment and dedication to real industries will allow China to occupy vantage points in world manufacturing and become an industrial power in the real sense. To a certain extent the beginning year of the 12th Five-Year Plan period (2011-2015), while fraught with challenges and pain, marks a departure from cutthroat competition to quality growth for Chinese enterprises and entrepreneurs. From 2012, China’s industrial and market economic systems will both head towards more sophisticated stages of development. China’s industries will develop along environmentally sustainable, delicate, high-end, IT-based and service-oriented paths, while expediting the country’s economic restructuring, industrial upgrade capabilities and its pursuit of innovative industrialization, and it will do so with strides more remarkable than ever before in its history.
Key words: 12th Five-Year Plan, new approach of industrialization, industrial transformation and upgrade

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