Transforming Towards a High-Income People's Republic of China

Download or read book Transforming Towards a High-Income People's Republic of China written by Asian Development Bank and published by Asian Development Bank. This book was released on 2017-06-01 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The People's Republic of China (PRC) has experienced stellar economic performance over the last 3 decades. Gross domestic product growth has averaged 10% per year. Per capita income has increased by a factor of 13. Life expectancy at birth increased from 67 to 73 years. Rapid growth, however, has posed eight challenges for the PRC: industrial transformation, balanced rural-urban development, human resource transformation, environmental protection, climate change mitigation, water security, subnational debt management, and further integration with the international economic system. In 2013, the Asian Development Bank helped the PRC prepare the 13th Five-Year Plan 2016-2020. This report summarizes key issues and recommends practical policy options to address the PRC's challenges.