Journal of Chinese Economic Studies
Online ISSN : 2436-6803
Print ISSN : 1348-2521
ISSN-L : 1348-2521
Innovation Becoming China’s New Growth Engine
Impressive Development of the Internet Industry
[in Japanese]
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JOURNAL OPEN ACCESS

2016 Volume 13 Issue 1 Pages 17-30

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Abstract
Since shifting to reform and open-door policies at the end of the 1970s, China has leveraged an abundant workforce and low wages to achieve rapid development. However, as labor shortages have become increasingly apparent lately, its potential growth rate has declined sharply. China needs to transform its pattern of economic development by shifting its growth engine from expanding labor input to speeding up productivity growth through innovation. While in the past, innovation was led by the government, as the market economy progresses, private companies, particularly those in the IT industry centering on the internet, are emerging as the dominant force. Against this backdrop, the international reputation of innovation in China has been rising rapidly.
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© 2016 Japan Association for Chinese Economic and Management Studies
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