What Is the New Style of Industrialization?

LIU Shi-jin1 (刘世锦)

 
Editorial note:

China’s heavy industry, which includes the automobile, metallurgical and building material industries, has accelerated and outstripped light industry in terms of growth rate since the late 1990s. This prompts the belief that industrialization in China has gone up a notch as the nation enters a period of “heavy industrialization”.However, accompanying the rapid development of heavy industry ar structural disequilibrium, strained energy supply and environmental deterioration. This has led to another conclusion that what is really happening in this nation epitomizes the economy’s “lopsided structure” and “partial overheating” and that it is necessary to remedy this flawed industrial structure and the prevailing extensive pattern of industrial development.

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