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Understanding China Through Keywords(06/10/16)
Prevailing words help to expand understanding of China
 NO. 40-41 OCTOBER 6

Learning keywords is one of the best ways to keep abreast of the latest developments in a country. The China Academy of Translation, a research institute affiliated with the China International Publishing Group, the country's leading international publisher, regularly analyzes prevailing Chinese terms in various sectors and translates them into a number of foreign languages ranging from English to Arabic. In each issue, Beijing Review presents a selection of these keywords to help readers know more about China.

 

Innovation-driven development

 

As one of the five concepts for development put forward by China's leadership, innovation-driven development focuses on what drives China's development. Considered the most critical growth driver, innovation should be encouraged so as to propel the country's transition from an input-driven economy to one driven by innovation and from relying on expansion of scale to increasing efficiency. Efforts should be made to accelerate the process of building a development model for an economy driven and sustained by innovation.

 

During the 13th Five-year Plan (2016-20) period, China will rely on innovation to boost its growth and reinforce its creativity. Modernization of agriculture will proceed full steam ahead together with initiatives to build a new economic structure and a new institutional base that facilitate development and encourage innovative improvements in macro-regulation.

 

Five concepts for development

 

At its Fifth Plenary Session held from October 26 to 29, 2015, the 18th Communist Party of China (CPC) Central Committee called for "development that is innovation-driven, coordinated, green, oriented toward global progress, and beneficial to all." Of these five concepts for development, innovation should be given top priority, while interactions between all the individual fields must be properly managed. The basic state policy of resource conservation and environmental protection should be respected, as should the principle that opening to the world must be to the benefit of all parties involved. Development should be in the interests of the people, rely on their support, and be of direct benefit to them. The thinking behind the five concepts for development embodies the CPC's in-depth understanding of the laws of economic and social development, while the concepts offer a theoretical guideline for the leadership in building a moderately well-off society in all respects.

 

Economic structural reform—an engine of progress

 

China is still in the primary stage of socialism and will remain so for a long time to come. Our larger context remains basically unchanged. The growing material and cultural needs of the people still outpace productivity growth. China remains the world's largest developing country. Against such a backdrop, China has to keep economic development as its central task. At present, many institutional and structural deficiencies constraining balanced development exist in the economic sphere. There is a long way to go before we accomplish the task of economic structural reform, and its potential has yet to be fully unleashed.

 

The economic basis determines the superstructure, and economic structural reform has an important impact on, and helps propel, reforms in other fields. The progress of major economic reform initiatives is key to progress in many other structural reform efforts and, indeed, has a direct bearing on all that is at stake.

 

Economic structural reform remains the central pillar of our comprehensive, in-depth reform efforts. Major new progress must be made in key areas of this reform so as to pave the way for, and provide impetus to, reforms in other sectors. Such an approach could ensure synergy and coordination between various reform initiatives and avoid a silo mentality and fragmentation.

 

Comments to yanwei@bjreview.com

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