9Japanese media comment on China’s transformation of economic structure, said the test is just beginn|Japanese media comment on China’s transformation of economic structure, said the test is just beginn

Japanese media commented that China’s transformation of economic structure, said the test is just beginning according to statistics released by the Chinese government, the service industry in the GDP accounted for the first time more than 50%, on the other hand the proportion of manufacturing industry has dropped to 40.5%. If it is not surprising that the industry continues to reduce production capacity in excess of capacity. Japanese media said that in 2015 China’s economic growth slowed further. GDP (gross domestic product) real growth of 6.9% also hit a new low since 1990. According to Japan’s "Daily News" in January 21 reported that, in order to develop, export led growth is not sustainable. With the economic development into a mature period, growth stagnation can be said to be a matter of natural things. Reported that the problem is that the transformation of the economic model can be successfully completed? According to statistics released by the Chinese government, the service industry in the proportion of GDP for the first time more than 50%, on the other hand the proportion of manufacturing industry has dropped to 40.5%. If it is not surprising that the industry continues to reduce production capacity in excess of capacity. This is the only way to change the mode of economic growth to consumption led. In the future, we must continue to work hard in order to change this trend to a certain reality. The future may also need to further relax regulation, simplify administrative procedures, so that more private enterprises to provide products and services to meet consumer demand. Reported that it is worth noting that the capital has not yet been curbed the momentum of flight and the devaluation of the rmb. Has poured into China’s speculative capital to get high returns as the U.S. interest rates continue to evacuate. Although the people’s Bank of China may raise interest rates against capital flight, but this will suppress the domestic economy. Conversely, if it is to stimulate the economy to cut interest rates, the fear will lead to further depreciation of the RMB, capital continues to flee. Whether to increase interest rates or cut interest rates, financial policy is facing a dilemma. Reported that, in this context, the internationalization of the RMB, the liberalization of the financial markets seems to be effectively promoting. But in the country’s reputation is still not high in the case of a hurry to reform the currency and the market, fear will lead to confusion. Reported that the Communist Party of China proposed in 2020 the average per capita income of urban and rural residents in 2010 than double the target. But in order to maintain the existing system, the executive to complete the economic growth target on the past to stimulate the economy of the old road. And including improve the credibility of statistical data, including, ultimately, actively implement the information disclosure, and strict adherence to rules, and strive to improve the market and trust at home and abroad. By Chinese led the establishment of Asian investment bank or will become a touchstone. As long as there is the use of sub investment banks to realize their own interests, then do not forget, the loss of credibility in the world’s most hit will be china. Reported that China wants to change the economic structure, growth into a stable and prosperous country, the test has only just begun. Japan must also change the sense of the premise of China’s economic growth stagnation.