National Level: Key Areas and Strategic Breakthroughs for Enhancing China’s Overall Economic Competitiveness
During the 12th five-year plan period (2011–2015), China stood up to test of serious domestic and international challenges. Internationally, demand kept falling, economic growth was sluggish, and countries sought to create new sources of growth and make technological breakthroughs while further adjusting the economic structure. Facing the complexities in the international environment, China had to simultaneously deal with the slowdown in economic growth, make difficult structural adjustments, and absorb the effects of previous economic stimulus policies. The Chinese economy faced mounting downward pressure. The various problems occurring in economic and social reforms led to the launch of many innovative and bold initiatives, bringing the China’s economic development to a new normal. New problems and new challenges also brought great opportunities for China’s economic transformation. New vitality was injected into the Chinese economy as the deepening of reform progressed steadily, the strategy of innovation-driven development was further implemented, opening up was further improved, and the ideas of ecological progress and green economy gradually took root among the people. In the process of overcoming the difficulties and responding to the challenges, China gathered strength in growing its economy and treaded a new path of economic growth with Chinese characteristics. Along with adjustment of the economic structure and change of growth engine, the source, driver, focus and priority areas of China’s overall economic competitiveness also changed, with improvements made slowly amid fluctuations.