By OECD Organisation for Economic Co-operation and Develop
OECD's first Economic Survey of China records the encouraging quantity to which structural reforms in China have prompted a sturdy technique of monetary improvement. whilst, the file issues out the place extra reform is needed. The significant issues of the report include bettering the framework for the personal quarter, labour industry reforms, growing older, and reform of the general public zone and the economic climate.
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Extra info for OECD Economic Surveys: China 2005
5 Note: The labour producivity growth attributable to sectoral employment change is measured as the difference between actual economy wide productivity growth and productivity growth in agriculture, industry and services combined with constant 1990 employment weights. Source: Statistical Yearbooks, CEIC database and OECD analysis. Over the past two decades, the remaining growth in output due to total factor productivity (TFP) improvements has averaged slightly above 4% per year but may have slowed down slightly since the late 1990s.
However, as the reforms progressed and efforts were made to reduce barriers, the regional integration of product markets appears to have improved in the period to 1998 (Li et al, 2003, Fan and Wei, 2003) and has progressed further since (see Chapter 2). Indeed a number of studies suggest that the degree of price dispersion and the speed with which discrepancies are eliminated is not so different to that of the United States market. Some residual barriers to inter-provincial trade still exist and strict enforcement of existing competition legislation could lower these barriers.
2). The government has a stated goal of increasing GDP four-fold between 2000 and 2020, which would imply an average annual growth of just over 7%. The analysis of growth prospects summarised below suggests that this goal is feasible. 2. GDP per head: China and other developing countries 1995 prices and exchange rates USD USD 4 000 4 000 3 500 3 000 Other middle income countries Low income countries China 3 500 3 000 2 500 2 500 2 000 2 000 1 500 1 500 1 000 1 000 500 0 500 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 0 Source: World Development Indicators and China Statistical Yearbook.