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MNI BRIEF: China Still Has Huge Potential For Growth

MNI (Singapore)
MNI (Beijing)

China still has huge potential for economic growth as it still has a late-mover advantage, continuous reforms are needed for greatest benefit, said Zhang Junkuo, former deputy director of the Development Research Center of the State Council.

“The current weak recovery cannot simply be attributed to a decline in growth potential,” said Zhang, speaking at the 14th Caixin Summit in Beijing on Friday. China is still in a catch-up growth stage, as it still lags behind the U.S., Germany and Japan in per capita GDP, basic research and core technology.

There is huge investment demand in urban renewal and rural revitalization across, and whether such demand can be released depends on breakthroughs in the investment and financing system as well as the land system, according to Zhang.

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