The Industrial Development of Western China in the First 5 years of Western Development Program
AbstractSince 1999, China launched the program of western development and began to implement a series of development plans in 2000. As the economic base, industrial sectors are one of the development focuses of the program. An important policy measure in the program is to increase investment. As we know, investment, especially government investment, has been the main source maintaining China’s high speed growth for a long time. Investment growth causes fast capital accumulation and then scale expansion of industries. However, capital productivity decides the impact of investment on promoting economic growth. Investing in low productivity sectors will not only waste capital, but also accumulate economic risk. Recently, China has realized that high inputs and relative low income are not a recipe for a sustainable growth mode. It’s important to improve industries’ productivity to grow more efficiently.
The journal is published under the terms of the Creative Commons Attribution (CC BY) License which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
Copyright on any research article in a journal published by a Journal is retained by the author(s). Authors grant Washington Institute of China Studies a license to publish the article and identify itself as the original publisher.
The Creative Commons Attribution License (CC BY) allows users to copy, distribute and transmit an article, adapt the article and make commercial use of the article. The CC BY license permits commercial and non-commercial re-use of an open access article, as long as the author is properly attributed.