Today : Friday - Sep 19, 2014, 07:18am (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Complete market economy transition: World Bank tells China

Monday - Feb 27, 2012, 01:09pm (GMT+5.5)
[+] Text [-]

Beijing - China should complete its transition to a market economy in order to achieve its goal of becoming a high-income society, according to a report jointly issued by the Chinese government and the World Bank.

The report said China should carry out enterprise, land, labour and financial reforms as part of its effort to create a new structure for economic growth. It also said China needs to strengthen its private sector, open its markets in order to foster competition and innovation, and ensure equality of opportunity to achieve its goals, reported Xinhua.

Chinese policymakers should also shift from focusing only on the amount of growth to focusing on the quality of growth as well, said the report.

The assessment warned of possible risks faced by China over the next 20 years, including the risk of a hard landing in the short term. It said China also faces challenges posed by an ageing and shrinking workforce, rising inequality, environmental stress, and external imbalances.

"China's leaders have recognized that the country's growth model, which has been so successful for the past 30 years, will need to be changed to accommodate new challenges," said World Bank Group President Robert B. Zoellick.

He said the country "has an opportunity to avoid the middle-income trap, promote inclusive growth, without further intruding on the environment, and continue its progress towards becoming a responsible stakeholder in the international economy".

The report, "China 2030: Building a Modern, Harmonious, and Creative High-Income Society", was issued Monday by the World Bank and the Development Research Center of the State Council in Beijing.


Rating (Votes: )   

blog comments powered by Disqus

Related Articles:
» Kudankulam N-plant to reconnect to the grid Oct 26
» Rupee unchanged at 61.46
» Kerala Tourism takes Twitter route for campaign
» Onion prices to come down in next 10 days: Thomas
» Ratan Tata meets Sharma post FIPB nod for airline venture
» Mamata government selling onions at Rs.36 per kg
» Gold prices gaining by Rs 480 to Rs 32,410 per ten gram
» Mukesh Ambani remains richest Indian with assets of $18.9 billion
» Top 100 rich Indians' net worth rises to $250 billion
» Bharti Airtel board approves subsidiary merger
» Emirates expects to fly 70 mn passengers in 2020
» Japan's Olympus scales down India business projection
» Tewari pulls up Ludhiana officials over MGNREGA funds
» India-France trade can aid inclusive growth: Jaipal Reddy
» China to set up power equipment service centres in India
» Reduced arrival of onions behind price hike: Dikshit
» Shanta Kumar slams delay in export ban on onions
» Sri Lanka records strong tourist, remittance earnings
» Cochin airport investors set to reap profits
» Etihad Airways to double Colombo flights
» Jet Airways standalone losses jump eight-fold to Rs. 891 crore
» RBI receives $10.1 billion under forex swap window
» SBI to get Rs 2000 cr as part of Rs 14K cr banks fund infusion
» Mobile economy to add $400 billion to India GDP: GSMA
» Volvo launches next generation S60 and XC60

Other Articles:
Dhaka to launch 20,000 websites (27th Feb, 2012)
Bangladesh to earn $44 mn from goods transit (27th Feb, 2012)
Bangladesh to import sugar (27th Feb, 2012)
Iran denies Greece 500,000 barrels of oil (27th Feb, 2012)
Bullish foreign investors pump in over $5.5 bn into Indian markets (27th Feb, 2012)
Green tea business grows in India amid health awareness (27th Feb, 2012)
Top panel warns against new trains without focus on safety (27th Feb, 2012)
Build more credible financial firewall: US to Europe (27th Feb, 2012)
Courtesy young enthusiasts, Japanese food takes a bow in India (27th Feb, 2012)
Vedanta to merge Sterlite and Sesa Goa in $14 bln deal (27th Feb, 2012)
Taj Khazana: Reviving rare but uniquely Indian art and craft (27th Feb, 2012)
Jharkhand to spend Rs.1,600 crore to lay power lines (26th Feb, 2012)
Weavers' woes: Government packages pass them by (26th Feb, 2012)
Making housing affordable: Realty industry needs budget boost (26th Feb, 2012)
Raise depreciation rate to boost investment: CII (26th Feb, 2012)
First Myanmar-India car rally in March (26th Feb, 2012)
Singapore plans 150-km leisure tour (26th Feb, 2012)
Glenmark recalls 7 lots of oral contraceptives in US (26th Feb, 2012)
Decision on Kingfisher's new flight schedule Monday: DGCA (26th Feb, 2012)
Vedanta looking to acquire coal assets in India and overseas (26th Feb, 2012)
Vedanta merges units to create India's largest resources firm (26th Feb, 2012)
Los Angeles Times to charge online readers from next month (25th Feb, 2012)
India's forex reserves rise to $293.44 billion (25th Feb, 2012)
Sensex posts first weekly fall in 2012; slumps 366 points (25th Feb, 2012)
Gold marcket fell by Rs. 75 to Rs. 28,865 per 10 grams (25th Feb, 2012)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use