Economic Trend News
- China may achieve industrial economy by 2015
Date: 29-Jan-2007 Sources: (Xinhua Online)
A report by China's top scientific institutions says that China is likely to be transformed from an agricultural into an industrial economy by 2015.
By then, its social and economic indicators will reach the level of developed countries in 1960s, says China's Modernization Report 2007.
The report details research and opinions of experts and scholars in the Chinese Academy of Science, the Ministry of Science and Technology and China's elite universities.
The prediction was based on China's economic growth from 1980 to 2004.
Since China started economic reform and opening-up, it has maintained an average annual growth rate of 9.6 percent.
The report lists ten indicators to evaluate the industrialization process. It said China has achieved six of them, including life expectancy, adult literacy and accessibility of higher education.
But China still has to improve four other indicators: GNP per capita; the added value of the service industry; the proportion of the work force in agriculture; and the percentage of urban residents among the total population.
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