OECD report highlights reform

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.