Four Things to Watch as China’s Leaders Map Out the Next Five Years

Caixin Global | Oct 23, 2020 at 8:20 PM
  • China’s top leaders will map out policies for the country’s economic and social development over the coming five years at a key meeting next week.
  • Reform of the markets for factors of production — land, labor, capital, technology and data — is needed because the current system is distorting the price and allocation of resources and holding back growth in what’s known as total factor productivity, a key measure of an economy’s productivity.
  • China’s annual average GDP growth rate has slowed from 9.8% over the 2001 to 2005 period just after the country joined the World Trade Organization, to an average of 6.7% over the first four years of the current FYP that ends this year.