Seven-Decade Structural Transformation of China’s Industrial Economy
Deng Zhou1 and Yu Chang2
Institute of Industrial Economics (IIE), Chinese Academy of Social Sciences (CASS), Beijing, China
Abstract: Over the past seven decades since the founding of the People’s Republic of China in 1949, China’s industrial structure has experienced transformations in various stages, which is consistent with the general pattern of industrialization and China’s domestic and international situations. These changes also have to do with China’s reforms in building the socialist market economic system. China’s seven-decade industrial structural transformation offers valuable experiences: In promoting its industrial development, China has persistently carried out economic reforms, kept pace with changing factor and demand structures, invested in technology importation and innovation, leveraged global resources and markets, and formulated development policies in line with specific industrial development stages. Despite industrial structural problems, China has set the stage for innovation-driven development, further opening up, and balanced regional development. China’s industrial structure will keep evolving amid its transition toward a competitive industrial nation.
Keywords: industrial structure, structural adjustment, transition and upgrade, founding of the People’s Republic of China, reform and opening-up
JEL classification code: L00, N150
DOI:1 0.19602/j .chinaeconomist.2019.7.02