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A New Stage of China’s Economy and the New Practice of Binhai New Area Development and Opening Up

  • Gang Liu
Chapter
Part of the Research Series on the Chinese Dream and China’s Development Path book series (RSCDCDP)

Abstract

China’s economic and social development has entered a new developmental stage. The traditional economic developmental model, driven by comparative advantages and “factor rent”, has laid bare a series of problems and drawbacks while bringing about the rapid growth and development of China’s economy for 30 years. Sustained economic and social development requires new driving forces during the new developmental stage. How to seek out a new developmental model driven by competitive advantages and “innovation rent” in the new round of reform and opening up is an issue which must be addressed first during the new stage. After 2005, the national comprehensive reform pilot areas represented by Shanghai’s Pudong, the Binhai New Area of Tianjin and the Shenzhen Special Zone were launched, which was the preliminary attempt made by the State to explore a new developmental model. Since the development and the opening up of the Binhai New Area of Tianjin was incorporated into the national overall developmental strategy, with a focus on building a research and development transformation base, many new beneficial practices have been carried out in exploring a new developmental model, and the resulting new experience is of positive inspirational significance for China’s economic development.

Keywords

New stage of the economy Factor rent Innovation rent 

Copyright information

© Social Sciences Academic Press and Springer Nature Singapore Pte Ltd. 2017

Authors and Affiliations

  • Gang Liu
    • 1
  1. 1.Binhai Development Research Institute, Nankai UniversityTianjinChina

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