OECD re­port high­lights re­form

China Daily (Hong Kong) - - BUSINESS -

An Or­ga­ni­za­tion for Eco­nomic Co­op­er­a­tion and Development re­port praised the achieve­ments of China’s struc­tural re­form, in­clud­ing the con­tin­ued growth of per capita in­come, nar­rowed ru­ral-ur­ban in­equal­ity and stream­lined ad­min­is­tra­tive pro­ce­dures. The growth of China’s in­come per capita re­mains high, said the OECD tech­ni­cal re­port on progress on struc­tural re­form in G20 na­tions. GDP growth in China largely fol­lowed de­vel­op­ments in la­bor pro­duc­tiv­ity, it said. The re­port, which mea­sures col­lec­tive per­for­mance of G20 struc­tural re­form, said China’s em­ploy­ment ra­tio was sta­ble and at a rel­a­tively high level. “In­equal­ity, as mea­sured by the Gini in­dex, de­creased since 2007 and the gap be­tween ru­ral and ur­ban pop­u­la­tions has nar­rowed,” the re­port found. It ob­served a steady rise in to­tal spend­ing on re­search and development in China since the early 2000s, and a grad­ual in­crease in na­tional ed­u­ca­tion ex­penses in the mean­time. In 2015, to­tal na­tional ed­u­ca­tion ex­penses in China amounted to $530 bil­lion , with an an­nual growth rate of over 10 per­cent, ac­cord­ing to the re­port.

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