On the New Economic Policies Promoted by the 17th CCP Congress in China

Shujie Yao and Stephen Morgan

The World Economy, 2008, vol. 31, issue 9, 1129-1153

Abstract: The 17th Chinese Communist Party Congress in October 2007 attracted attention within and outside China for the bold development agenda that was placed before delegates. After 30 years of economic reform that has produced a remarkable improvement in living standards and China's reintegration into the world economy, the Party unveiled a programme that would push China to become a world superpower over the next 30 years. China's ambition is to become a technologically innovative state, to make China a ‘moderately prosperous’ and ‘harmonious society’ with a ‘scientific outlook on development’, and to achieve full industrialisation and sustainable prosperity. Whether China is able to attain its objectives will critically depend on the Party's ability to implement the new economic policies and address the social and political challenges that economic growth has created. The aim of the paper is to examine the policies, motivations and constraints that China faces in achieving the objectives laid out at the Party Congress.

Date: 2008
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