Deepening Reform for China's Long-term Growth and Development

Deepening Reform for China's Long-term Growth and Development

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Edited by: Ross Garnaut, Cai Fang, Ligang Song orcid

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The Chinese economy has entered a new phase of development in which sources of growth are not so much dependent upon pure increases in labour, investment and credit expansion, but from productivity improvement, structural changes, technological progress and the benefits from improvement of the social security and welfare improvement. When market functions are fully established to become a main channel for allocating resources, the entrepreneurship will flourish engaging in more innovative activities, workers will move more freely and have more incentives to improve their skills, firms will become more productive through market entry and exit, the economic structure will become more balanced because of the improved resource allocation, and in the end, growth will become more spontaneous and sustainable. In this sense, reforms could deliver ‘dividend’ by raising China’s potential economic growth rates.

For China to confront all the challenges it faces at present, the reforms undertaken now have to be deep, comprehensive and far-reaching in order to succeed in paving the way for China to complete the task of transformation in the long-term. There is no better alternative than deepening the market-oriented reform in advancing the course of China’s modernisation for future development and prosperity and lifting China to the status of a developed economy in the next two decades. The recent China update books have covered the topic of reform from different angles and this new book is another attempt to address this important issue.


ISBN (print):
ISBN (online):
Publication date:
Jul 2014
The Chinese translation of this title can be downloaded.
ANU Press
China Update Series
Business & Economics; Social Sciences: Politics & International Studies
Australia; East Asia: China; South Asia: India

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Deepening Reform for China's Long-term Growth and Development »

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Part I: New Model for Economic Growth

  1. Reform and China’s Long-Term Growth and Development (PDF, 179KB)Ross Garnaut, Ligang Song and Cai Fang doi
  2. China’s Shift from the Demographic Dividend to the Reform Dividend (PDF, 1.5MB)Lu Yang and Cai Fang doi
  3. Structural Imbalance, Inequality and Economic Growth (PDF, 745KB)Xiaolu Wang and Yixiao Zhou doi
  4. State Control, Entrepreneurship and Resource Allocation (PDF, 307KB)Son Ngoc Chu and Ligang Song doi
  5. China’s High Rates of Investment and Path Towards Internal Rebalancing (PDF, 1.9MB)Owen Freestone and Dougal Horton doi
  6. The Middle-Income Trap and China’s Growth Prospects (PDF, 756KB)Yingjie Feng and Yang Yao doi
  7. Short-Run Effects of the Economic Reform Agenda (PDF, 498KB)Rod Tyers and Ying Zhang doi

Part II: New Priority for Low‑Carbon Growth and Climate Change Policy

  1. Low-carbon Growth and its Implications for the Less‑developed Regions (PDF, 1.5MB)Yongsheng Zhang doi
  2. China’s Climate and Energy Policy (PDF, 202KB)Frank Jotzo and Fei Teng doi

Part III: Financial System Reform

  1. The Last Battles of China’s Financial Reform (PDF, 2.8MB)Yiping Huang, Ran Li and Bijun Wang doi
  2. Financial Reform in Australia and China (PDF, 1.8MB)Alexander Ballantyne, Jonathan Hambur, Ivan Roberts and Michelle Wright doi
  3. Financial Openness of China and India (PDF, 3.2MB)Guonan Ma and Robert N. McCauley doi
  4. Increasing the Resilience of China’s Financial Sector and the Global Monetary System (PDF, 114KB)Wing Thye Woo doi

Part IV: Factor Market Reform

  1. The Issue of Land in China’s Urbanisation and Growth Model (PDF, 514KB)Tao Ran doi
  2. China’s Labour Market Tensions and Future Urbanisation Challenges (PDF, 419KB)Xin Meng doi
  3. The Impact of FDI on China’s Regional Economic Growth (PDF, 241KB)Chunlai Chen doi

Part V: Productivity, Patent Institution and Investment Law

  1. Accounting for the Sources of Growth in Chinese Industry, 1980–2010 (PDF, 360KB)Harry X. Wu doi
  2. Growth, Structural Change and Productivity Gaps in China’s Industrial Sector (PDF, 5.8MB)Yanrui Wu, Ning Ma and Xiumei Guo doi
  3. The Importance, Development and Reform Challenges of China’s Rail Sector (PDF, 7.6MB)Robin Bordie, Stephen Wilson and Jane Kuang doi
  4. Patent Institution, Innovation and Economic Growth in China (PDF, 208KB)Haiyang Zhang doi
  5. Foreign Investment Laws and Policies in China (PDF, 253KB)Xiang Gao and Huiqin Jiang doi

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