A new perspective on China’s industrial development strategy

Abstract

At present China is facing challenges from economic globalization, ecological economy and knowledge economy in its process of economic development. The following ideas may be heuristic in establishing China’s regional development strategies: 1) In locating industries, the impact of industries on the eco-environment should be fully considered. 2) Industrial restructuring should be focused on the restructuring of products, not on the restructuring of the three traditional industries (primary, secondary and tertiary industries). 3) The establishment of key industries should be focused on large-scale corporations or famous brand products, not on a particular industrial sector. 4) The complementarity and cooperation between the east and the west of China should be on products and markets, not on natural resources. The advantages in natural resources for the west of China can not be over-estimated. The advantages in products and market potentials for the west of China may be explored.