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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Beijing, November 22 (Xinhua) — Modernizing county-level economies is crucial to China's overall modernization, according to a think tank report.
The report, titled "County Economy in the New Era," was released Friday 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, east China's Jiangsu Province.
As a critical component of China's economy, counties account for approximately 40 percent of GDP, and their economies play a vital role in the country's economic transformation and modernization, the report says.
Counties serve as an important pillar for the development of urban clusters and megacities, the report said, noting that the growth of county-level economies and the improvement of county-level governance capacity will provide a strong impetus to comprehensive regional development.
The report emphasizes that over 50 percent of China's population currently lives in county-level areas, forming a significant source of domestic demand, with consumption growth in these regions significantly outpacing that in major cities. Looking ahead, as county-level economies continue to grow, incomes rise, and infrastructure and public services improve, counties will unlock even greater potential for domestic demand, making them a crucial area and direction for China's further economic development.
According to the report, county-level areas have become key spaces for coordinating urban and rural development and promoting new-type urbanization, as well as key points for increasing rural incomes.
The report also said that counties, as the basic units of the national economy, play an important role in promoting ecological civilization and building “Beautiful China.” -0-
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