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1、ForcesdrivingChina'seconomicgrowthin2012Newthoughts,newstrategies,newinitiativesFebruary2012th2011sawChinabegintoimplementits12Five-yearPlan.ThePlanseekstorefineChina’seconomicdevelopmentbypushingforwardthedevelopmentofemergingAuthors:strategicindustries,expandingindependentinnovation,andpursuingsus
2、tainableeconomicdevelopmentalongsidesocialharmonyandstability.2011alsomarkedthethEdwinFung10anniversaryofChina’saccessiontotheWTO.Followinghard-foughtGlobalChairnegotiations,ChinajoinedtheWorldTradeOrganization,beginningtheprocessofKPMGGlobalChinaPracticebringingitseconomyintolinewiththeinternationa
3、leconomicsystem.Backthen,Chinawasstillanewplayerintheinternationaltradesystem,andneededtoYaliPengtransformitselfinordertoadapttothenewrulesofthegame.Sincethen,ChinahasHeadofResearchbecomealeaderininternationaltrade;itstotaltradevolumeisnowtheworld’sKPMGGlobalChinaPracticesecond-largest,asisitstotalG
4、DP.However,2011wasnotallsmoothsailingforChina.Domestically,Chinafacedpressuresfrominflation,realestatebubbles,andlossofcontroloverlocalgovernments’financingplatforms;externally,Chinacontinuedtofeeltheimpactoftheglobalfinancialcrisis,fallingundertheshadowoftheEuropeansovereigndebtcrisisandtheU.S.econ
5、omy’sweakrecovery.Duringthiscriticalyearoftransition,China’seconomicperformancewasbarelysatisfactory.Domestically,Chinaneedstocurbinflation,maintainmoderategrowth,andavoidaneconomichardlanding;externally,itneedstoactivelycopewiththedeclineinexportdemandcausedbydeteriorationinthemarketenvironment.Chi
6、naneedstokeepthisenormouswheel—theworld’ssecondlargesteconomy—rollingforwardalongtherighttrack,andatasteadyspeed.Lookingaheadat2012,continuedimplementationofthedevelopmentstrategythdefinedinthe12Five-yearPlanisthepathforwardfortheChineseeconomy.AtthePlan’scorelies:thequestionofhowtomaintainmomentumt
7、owardsrapideconomicdevelopmentbuiltupduringthepast30yearsof“ReformandOpeningUp”;howtogreatlyenhancethecompetencyofChineseenterprises,transformingthemfromfollowersintoleadersontheglobalstage,anddrivers
