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Moving Towards High-Quality Development - Excerpts from the Yangtze IDEI Research Report (2019)
Release time: 2019-12-28   Author: Chen Liu,Zhang Yueyou

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The 19th CPC National Congress report highlighted how China’s economy has been in a transition process from a rapid growth phase to one of high-quality development. To build a modern economy, we must place emphasis on quality primarily, give priority to performance and work for a better quality of economic growth through means of reform. The 2018 Central Economic Work Conference is an example of a solid implementation of the Report's requirements. The theme of the conference was “Developing a High-Quality Economy." According to an editorial in the People's Daily, high-quality development can be defined as development that keeps abreast of people’s ever-growing needs for a better life. It also reflects the new development philosophy and is characterized by innovation as the predominant driving force, coordination as an internal characteristic, greenness as a ubiquitous form, opening-up as an imperative path, and mutual sharing as the ultimate aim. China’s economic development in the new era has also been identified as an economy that is moving towards high-quality development.