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for a “high-income country” — above $12,736 in per capital GDP — set by the World Bank in 2015.
However, a productivity slowdown, aging population and unbalanced regional developme
nt could be among the “bottlenecks” that constrain China in becoming a high-income country, economists said.
Given the pressure of the slowing global economy, a high degree of leveraging maintains the top risk for China’s econ
omy, thus measures should continue to reduce the debt-to-GDP ratio “in proper order”, said Lou Jiwei, chairman of
the National Council for Social Security Fund and a former finance minister.
It is necessary to build a long-term and efficient mechanism for financial regula
tion and fiscal supervision, and to prevent potential risks in the property sector, Lou said.
The three-day China Development Forum has a guest list of more than 150 international delegates, including global industry leaders.