Potapov Maxim
On the Growth Factors and Model of Economic Development of China
Publication Type:

ISSN 0131-2812

DOI 10.31857/S013128120024900-1

The growth dynamics of the Chinese economy and the factors of its growth in recent years (2017-2022) are analyzed. Particular attention is paid to the role of foreign trade, the movement of cross-border capital in the economic development of the PRC, and the state of its debt position. A number of conclusions are made regarding the prospects for growth and evolution of China's economic development model. Over the past ten years, the third sphere (services) has become a leading in the production of China’s GDP, ahead of the second (industrial) sphere. The analysis of GDP structure on expenses shows that the economic growth of the PRC is primarily supported by the internal factors of consumer and investment demand. The net export of goods and services currently occupies a secondary position among growth factors. A comparison of China’s GDP dynamics and foreign trade shows the high stability of the Chinese economy to changes in trade volumes. It is noted that China's priority efforts are focused on the formation of a new model of economic development: innovative in nature, based on a capacious domestic market, closely interacting with the world. Actively used by China until recently, the export-oriented development model has long exhausted itself in many respects. The new innovative development model will differ from the development model of new industrial countries that have solved similar tasks of maintaining growth. First of all, in China’s huge domestic market and the need to use to all domestic and external growth factors. Such a development model is designed to ensure high quality growth and sustainable development. Innovation will replace export orientation and capital accumulation as a key driver of growth. This will make it possible to fully develop an intensive type of growth instead of an extensive one. The factors of domestic consumer and investment demand, as well as external export demand, will continue to play an important supporting role in ensuring China's economic growth.

Keywords: capital flows, China, personal consumption, economic growth, foreign trade, foreign direct investment, foreign exchange reserves, innovations, intensive growth, investment demand, private consumption, the global crisis |

Russian Science Citation Index


Potapov Maxim
Economic Development in East Asia: Current Situation and Prospects

The role of mining industry in economy

Gracheva Mariya
Прямые инвестиции развитых стран в ФРГ: анализ статистики германского федерального банка [Текст] / М.В. Грачева // Экономический анализ: теория и практика. – 2014. – № 36. – С. 39 – 47.

Kovalev Evgeniy
Под заправку. Нехватка продовольствия в мире / Е.В. Ковалёв // Прямые инвестиции. – 2008. – № 8. – С. 10-11.

Reva Alexander
The relationship between primary energy consumption and GDP. Elasticity of primary energy consumption in India

Varnavskii Vladimir
Digital technologies and the growing of world economy

Volkov Aleksei
Economic relations between Russia and Sweden

Volkov Aleksei
Экономические отношения России и Норвегии на современном этапе [Электронный ресурс] / А. М. Волков // Мировое и национальное хозяйство. – 2018. – № 2-3(45). – URL: http://www.mirec.ru/2018-02-03/economic-relations-between-russia-and-norway-nowadays

Obolenskiy Vladimir
Foreign trade of Russia: the nature of rises and falls

Adno Yuri
Год 2016-й: экономический рост в обход России [Текст] / Ю.Л. Адно // Металлы Евразии. – 2016. – № 1. – С. 8 – 14.

Sidorova Elena
Anti-crisis programmes in Germany and Great Britain / Sidorova E.A. // World Economics. – 2010. – No 4. – 2010. – P. 29-37.

Varnavskii Vladimir
Инновационный рост мировой экономики: основные тренды и перспективы [Текст] / В.Г. Варнавский // Друкеровский вестник. – 2017. – № 1. – С. 5-15.

Kuznetsov Alexey
Жили по соседству / А.В. Кузнецов // Прямые инвестиции. – 2012. – № 10. – С. 34–36.

Klinova Marina
The role of State in France Economy: test for Coronavirus

Kuznetsov Alexey
European Multinationals Contributes to Russian Economy Modernization: Regional Aspect / Kuznetsov Aleksey

Borisov Stanislav
Золото в современном мире. М., Наука, 2006, 247 с.

Kondrat’ev Vladimir
Базовые металлы: перспективы в 2021 г. // Горная промышленность. 2021. № 1. С. 14-22. DOI 10.30686/1609-9192-2021-1-14-22.

Salitskii Alexander
Inflation and economic growth in the PRC

Kondrat’ev Vladimir
Главное – как считают / В.Б. Кондратьев // Прямые инвестиции. – 2012. – № 9. – С. 8–13.

Sinitsyn Mikhail
China as the Global Leader of Road Vehicle Electrification: Oil Market Risks
Related publications

Comments (0)

No comments

Add comment

First news
Institute News

A meeting of the Academic council of IMEMO was hold at the Academician N.N. Inozemtsev conference hall.



The next issue of the MEMO Journal (No. 7 for 2024) opens with the topical rubric "Security Problems in the Modern World", which features articles by A. Arbatov "The Bearing Structure of Global Security" and A. Krivopalov "The Southern Flank of U.S. Deployment in Eastern Europe".


Recently Published