China needs reform to shift to quality

China Daily

The Conference Board Chief Economist Bart van Ark and Andrew Polk, resident economist at its China Center for Economics and Business, said on Monday that it is important for China to put more emphasis on quality growth rather than speed. Slower growth can lead to a much healthier growth path for China if the economy begins to rely less on investment to drive growth, but in order to do so reforms need to be accelerated, said the two economists of the independent business membership and research association based in New York. "The shift from investment-led growth to consumer-led growth could also bring about less volatility in the business cycle," they said in a written interview with Xinhua.

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