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Source: People's Republic of China – State Council News
NANJING, Nov. 21 (Xinhua) — A report was released in Nanjing, east China's Jiangsu Province, on Friday, containing a detailed analysis of the economic development situation of China's counties and a theory of county-level economics in the new era.
The report, titled "County Economy in the New Era," was presented by the Xinhua Institute, a national-level think tank affiliated with the Xinhua News Agency, at the Belt and Road International Think Tank Cooperation Forum held in Nanjing.
The document consists of 5 chapters, which examine in detail the strategic significance of active development of the county-level economy, the essence of the county economy in the new era, as well as the dynamic practices associated with this economy, its distinctive features and understanding of it.
Counties in China today encompass both urban and rural areas, serving as a central hub connecting higher and lower administrative levels, ensuring coordination across various sectors, and linking cities and rural areas. They constitute the basic unit for both economic development and social governance in China, the report notes.
The county economy of the new era has acquired the character of an original and fairly comprehensive knowledge system, based on China's wealth of experience in economic development at the county level, the report states. According to the document, this primarily concerns the integration of urban and rural areas and the development of the latter, with the former playing a leading role, the creation of specific industrial clusters, and the expansion of county autonomy in decision-making to ensure the viability of reforms at the grassroots level.
The county-level economy of the new era goes beyond the unipolar thinking inherent in traditional growth pole theory and creates “distributed growth poles,” a network of “capillary vessels” to maintain economic dynamism, the report’s authors point out, noting that this approach promotes high-quality development and lasting social stability in the country, becoming a historic move beyond the Western “core-periphery” theory.
The New Era County Economy charts an alternative path that serves as a key to actively seeking solutions for urban-rural integration; it offers a Chinese model that balances efficiency and fairness and combines tradition with innovation; and it contributes to the creation of a more balanced and sustainable development configuration for countries in the Global South, the report states. -0-
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