After The Shift, The New Engine Of Economic Growth Has Ignited GDP'S Technological Content And People'S Wellbeing.

In October 18th, general secretary Xi Jinping, when he interviewed the British Reuters in an interview with Britain, once again quoted Dr. Toynbee, a historian, as an important driving force for the development of human civilization. He stressed that China's economic development has entered a new normal and is experiencing the throes of the pformation of new and old energy, but the fundamentals of China's steady economic development have not changed.

China's new industrialization, information technology, urbanization and agricultural modernization are advancing in depth, and domestic market demand is strong. Economic development has great potential, resilience and leeway. Structural reform is deepening and China's economic prospects are bright.

Based on the comprehensive summing up of the "12th Five-Year" development experience and the accurate inspection of China's specific national conditions, general secretary Xi Jinping made a deep reply to the deep thinking of development. "Development must follow the economic laws of scientific development, and must follow the natural law of sustainable development, and must be guided by the social law of inclusive development."

In the thirty years since the reform and opening up, China's economy has increased rapidly. In the past 1979-2012 years, the average annual growth rate of China's economy has reached 9.8%, while the world's average annual growth rate is only 2.8%.

This speed even surpasses the "four little dragons" of Asia in the period of economic take-off.

The total GDP in China increased from 365 billion yuan in 1978 to 636463 billion yuan in 2014, while the total number of GDP in the world's largest economy in 2014 was 17 trillion and 420 billion yuan.

As a result, China has become an economic power worthy of the name.

But at the same time, structural imbalance between the internal and economic sectors of the economy is increasingly becoming a constraint on China's sustained economic development, while traditional exports and investments can not support the rapid growth of such a huge volume of economic volume.

Economic laws tell us that economic scale growth needs shifting at this point.

China

From 10% to 9%, 8% to 7%.

The annual growth target includes not only the three major industry scale targets, but also the employment targets GDP can bring.

The reduction of economic growth targets each year is accompanied by the promotion of GDP gold content, which includes the number of GDP employment.

Under the traditional second industry led economic structure, GDP can add 1 million jobs per 1 percentage point increase.

But this year, what we have seen is that the economic growth in the three quarter has dropped to 6.9%, the lowest growth rate since 2009, and the annual employment target for 2015 has been achieved ahead of schedule.

This is due to the rapid development of the third industry.

In 2013, the proportion of the third industries exceeded second industries in the first place. In 2014, the third industry in China accounted for the first time more than 50% of the three industries.

The third industry, including the logistics sector, the Department for production and life services, the departments for improving the level of science and culture and the quality of residents, as well as various organs and institutions, are all labor-intensive industries.

The rapid development of the third industry has led to an increase in the capacity of the employment market.

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Since its introduction, entrepreneurial enthusiasm has been rising, and it has also effectively promoted economic vitality.

SAIC data show that in the first three quarters of 2015, 3 million 159 thousand new enterprises registered nationwide, an increase of 19.3% over the same period last year.

And the continuous improvement of employment has become one of the causes of consumption.

According to the statistics of the National Bureau of statistics, the total retail sales of consumer goods in China in the first three quarters of this year amounted to 216080 billion yuan, up 10.5% from nominal growth (10.5% in real terms after deducting price factors), which is faster than the GDP growth rate in the same period.

Over the same period, China's online retail sales reached 25914 billion yuan, an increase of 36.2% over the same period last year.

Despite the fact that social investment and import and export growth figures are not ideal, consumption has become a unique and growing force.

What is the driving force behind the shift of economic growth? The history of global economic development shows that people's livelihood and consumption have become an important support to get out of the trap of middle-income countries, and the sustained motive force of people's livelihood and consumption comes from the all-round deepening reform in the social and economic fields.

On November 10, 2014, general secretary Xi Jinping addressed the APEC leaders at a dialogue meeting with representatives of the Business Advisory Council in Beijing, pointing out that for China,

The past is definitely going to be over. The key is when to go forward and how to move forward better.

We are confident that we can strike a balance between reform, development and stability, as well as steady growth, structural adjustment, people's livelihood and reform.