World Bank Report Released: China 2030: Building a Modern, Harmonious, and Creative Society

World Bank Report Released: China 2030: Building a Modern, Harmonious, and Creative Society

from PEN-e from Pace Law School Library by Taryn Rucinski

Recently, the World Bank, a partnership established in 1944, that provides "financial and technical assistance to developing countries around the world" released a report titled, China 2030: Building a Modern, Harmonious, and Creative Society (2013). According to the press release, the 473-page report, available here, discusses how,

China 2030 is a joint research report authored by a team from the World Bank and the Development Research Center of China’s State Council. It lays out the case for a new development strategy for China to rebalance the role of government and market, private sector and society to reach the goal of becoming a-high income country by 2030.

• Completing the transition to a market economy;
• Accelerating the pace of open innovation;
• Going 'green' to transform environmental stresses into green growth as a driver for development;
• Expanding opportunities and services such as health, education and access to jobs for all people;
• Modernizing and strengthening its domestic fiscal system; and
• Seeking mutually beneficial relations with the world by connecting China's structural reforms to the changing international economy.

China 2030 finds that China should complete its transition to a market economy through enterprise, land, labor, and financial sector reforms, strengthen its private sector, open its markets to greater competition and innovation, and ensure equality of opportunity to help achieve its goal of a new structure for economic growth.