New Urbanisation as a Driver of China’s Growth

Abstract

The Chinese economy has experienced a substantial slowdown in growth since 2012. Colligating its pace, extent and duration, this slowdown is unprecedented since reforms were initiated in the late 1970s. A massive stimulus package implemented by the Chinese Government during the 2008–09 Global Financial Crisis had some shock impacts on growth but had no effect on the growth trend. China’s gross domestic product (GDP) growth rate fell from its peaks of 14.2 per cent in 2007 and 11.3 per cent across the Eleventh Five-Year Plan (FYP) period (2006–10) to 6.9 per cent in 2015 and 7.8 per cent