China's Industrialization Process (eBook)

Qunhui Huang is the director general of the Institute of Industrial Economics, Chinese Academy of Social Science, and also a senior research fellow and Ph.D. in Management. He is the editor-in-chief of the “Journal of China Industrial Economics” and the “Journal of Economics & Management”; vice president and secretary general of the Chinese Institute of Business Management. His fields of specialization include industrial economics and enterprise reforms. He is the winner of the 12th Sun Yefang Prize in Economic Sciences and the 3rd Award of the Jiang Yiwei Academic Foundation for Enterprise Reform and Development.

Series Preface 6
Acknowledgements 8
Contents 10
1 Introduction 13
References 19
2 China’s Industrialization Process: An Overview 20
2.1 Industrialization Process of PRC Before Reform and Opening Up 21
2.2 Industrialization Process Since Reform and Opening Up 23
2.3 China’s Achievements Through Industrialization 34
2.4 Basic Experience and Lessons from China’s Industrialization 38
References 42
3 Progress Evaluation of China’s Industrialization 44
3.1 Evaluation Methods 45
3.1.1 Evaluation Method for Industrialization Level 45
3.1.2 Division Criteria for Different Regions 52
3.2 Evaluations Based on Individual Indicators 52
3.2.1 Evaluation Based on Per Capita GDP 53
3.2.2 Evaluation Based on Output Value Ratio of the Three Industries 57
3.2.3 Evaluation Based on Industrial Structure 59
3.2.4 Evaluation Based on Urbanization Rate 59
3.2.5 Evaluation Based on Proportion of Population Employed in First Industry 62
3.3 Comprehensive Evaluations 64
References 68
4 Key Features of China’s Industrialization 69
4.1 Rate 70
4.2 Regional Variations 77
4.3 Driving Force 81
References 89
5 Outlook for China’s Industrialization 90
5.1 Trends and Risks in Late-Stage Industrialization 91
5.1.1 Economic Slowdown and the Risks Associated with Stagnation 91
5.1.2 Increasing Share of the Service Industry in the Economy and the Risks Associated with “Hollowing-Out of Manufacturing” 93
5.1.3 Industrial Structure Improvement and Risks Associated with “Technical Upgrading Trap” 96
5.1.4 “Integration of Industrialization and Informatization” and Risks Associated with “New Industrial Revolution” 100
5.1.5 Cutting Excess Capacity and Risks Associated with Economic Liabilities 103
5.1.6 Quality Improvements in Factors of Production and Risks Associated With Sluggish Reforms in the Factor Market 106
5.1.7 Shift Toward Industrial Policies that Support Market Functioning and Risks from “Policy Dysfunction” 108
5.1.8 Developing Countries Moving Up the Global Value Chain and Risks Associated with “Being Squeezed on Both Sides” 109
5.2 Strategies for Further Advancing Industrialization Process 112
5.2.1 Realizing the Transition from Factor-Driven Strategies to Innovation-Driven Strategies 112
5.2.2 Realizing the Strategic Transition from Building an Industrial Giant to Building an Industrial Powerhouse 113
5.2.3 Realizing the Strategic Transition from Pursuing Catch-Up to Pursuing Inclusive-Growth 116
5.2.4 The Relationship Between Industrialization and Urbanization 117
5.2.5 The Relationship Between Globalization and Independence 118
5.2.6 The Relationship Between the Real Economy and the Virtual Economy 119
5.2.7 Properly Addressing the Relationship Between Labor-Intensive Industry Development and Industrial Upgrading 122
5.2.8 The Relationship Between Industry Transfer and Regionally Coordinated Development 123
5.3 Industrial Development During the 13th Five-Year Plan Period 124
5.3.1 Guiding Idea for Industrial Development During the 13th Five-Year Plan Period 125
5.3.2 Key Areas for Industrial Development During the 13th Five-Year Plan Period 128
5.3.3 Adjustment of Industrial Development Policies During the 13th Five-Year Plan Period 138
5.3.4 Open-Up Policy Will Shift from the Orientation of Driving Growth to Integrating Resources 145
5.3.5 Talent Policy to Shift from Attracting Elite to Forming Gradient 147
References 148
Postscript 150
Bibliography 152