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China's rapid growth will continue: OECD
(Xinhua)
Updated: 2005-09-30 20:28
However, the organization said, the average income of the Chinese people is
still below that in some other middle-income countries.
"Large parts of China have reached the income levels seen in some developed
East Asian countries one generation ago and are proceeding along a rapid
catch-up path," it said.
OECD analyzed that it was the great changes in China's economic policies that
have made such an extraordinary economic performance possible.
It also highly praised the big changes introduced into China's constitution
in 2004, which stresses that both state and private assets in China should be
protected equally.
In China, the scope of private ownership has grown into a substantial part of
the country's economy and produced more than half of the country's gross
domestic product and millions of jobs.
In 2005, China is expected to allow private ownership enter a fresh number of
economic sectors such as infrastructure, public utilities and financial
services, which will further fuel the private sector to become more powerful, it
said.
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