China's industrial policy: Focusing on the <12.5 plan>

Abstract

After China's reform and opening up, the national strategy of China has been to build national prosperity and military power through the economic development. China in the twentyfirst century set two national goals; continuous development and fair society. The industrial development has largely contributed to its economic growth. In 2011, China began to new economic and industrial policies named the <12.5 plan>. It includes qualitative growth, increase in domestic demand through income growth, advance in industrial structure, resource conservation and environmental protection, better livelihoods of people, and promoting strategic industrial policy. Along with the qualitative economic development, the new indsutrial policy implies the China's national goal that aims to solve political and social problems in line with quantitative economic growth. © 2012 Springer Science+Business Media B.V.