Rural Enterprise Contributions to Growth and Structural Change
Since the reforms began in 1978, China has experienced more rapid economic growth than at any time during the central planning period. From 1979 to 1988, the Chinese economy grew at a real rate of 9.6 per cent per annum (derived from Table 3.1). Although, in 1989, to curb inflation the Chinese government imposed an economic austerity programme that slowed down economic growth to 5.6 per cent per annum in 1989–91, the real annual growth rate for the whole period 1979–91 was still as high as 8.6 per cent. Such a level was much higher than the 4.6 per cent growth rate achieved during the central planning period (1952–77).1 Furthermore, the economic upturn after 1991 led to a renewed burst of high-speed growth.
KeywordsService Sector Industrial Sector Employment Growth Economic Austerity Rural Economy
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