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Symposium 2015

Virtual Library File - Inclusive Growth toward a Harmonious Society in the People's Republic of China: Policy Implications

The Challenge

“Inclusive Growth” refers to sustained economic growth while at the same time improving equal access to opportunities among (groups of) individuals and reducing income disparities (ADB 2011). It ...

“Inclusive Growth” refers to sustained economic growth while at the same time improving equal access to opportunities among (groups of) individuals and reducing income disparities (ADB 2011). It aims to provide different groups of a society with equal opportunities to participate in economic development processes, thus enhancing the living standards and promoting mobility across different social groups. A key driver of future development in the world is “innovation”.

Over the past 20 years the economies of many Asian developing countries have been growing rapidly. The People’s Republic of China (PRC) is one of the most prominent examples realizing such a strong economic growth. The strong economic growth was, however, accompanied with an increasing income and non-income inequality among individuals. Inequality raises the political and social tensions of each country and it challenges the future perspective of sustainable growth of developing countries in Asia. This paper takes PRC as an example and discusses the development and the implications of PRC’s policy toward inclusive growth, including creating and ensuring equal access to economic opportunities.