Con­sum­ing At­ten­tion

Chi­nese con­sumers are ex­pected to be the big­gest en­gine of the coun­try’s econ­omy. They just need more money in their pock­ets to do the job

NewsChina - - COVER STORY - By Cai Ru­peng, He Bin and Li Jia

The break­neck speed and sheer size of China's eco­nomic de­vel­op­ment in the last four decades has at­tracted the world's at­ten­tion. Eight years af­ter China be­came the sec­ond-largest global econ­omy af­ter years of dou­ble-digit an­nual GDP growth – around 10 per­cent on av­er­age, China now wants to draw at­ten­tion to the qual­ity of its eco­nomic growth.

The goal of a high-qual­ity growth path is aimed at meet­ing the de­sire of Chi­nese peo­ple for a bet­ter life. The Com­mu­nist Party of China (CPC) stated at its 19th Na­tional Congress in Oc­to­ber 2017 that the gap be- tween peo­ple's grow­ing de­mand for a bet­ter life and the prob­lems of “un­bal­anced and in­ad­e­quate de­vel­op­ment” is the “prin­ci­pal con­tra­dic­tion fac­ing Chi­nese society” now.

Although in the last few years, an­nual GDP growth has been lower – around six to seven per­cent on av­er­age, Chi­nese pol­icy

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