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China should be ready for a tougher economic situation in the second half of 2021
As China’s vaccination drive continues, leading to more relaxed pandemic measures, retail, transportation, food and beverage and business service sectors, which account for about 19 percent of added value to China’s economy, should climb to pre-Covid levels
China needs to explore the potential of its current population to address the shrinking labor force
The increased education level of China’s labor force is definitely positive, although whether it can automatically turn into a talent dividend depends on whether China can achieve its goal to upgrade its economy into an innovation-driven one
China needs to begin efforts today to achieve carbon neutrality by 2060
It is estimated that between 2020 and 2050, the efforts to achieve carbon neutrality will require investment of 100 trillion yuan. But rather than an economic burden, the investment will serve as a new source of economic growth in the following decades, presenting an opportunity to upgrade China’s economy into one that is eco-friendly and more efficient
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China needs to be proactive in tackling the demographic crisis
China’s ruralto-urban mass migration contributes to a decline in people’s desire to have children. Besides these global factors, runaway housing prices, rising childcare costs and fierce competition within China’s educational system deters many would be parents.
It is high time to overhaul rich-friendly personal income tax codes
Yet as social equity becomes a policy priority in the next years, it is time to overhaul China’s personal income tax codes, rather than make incremental changes
China needs to update its rural development model to achieve ‘rural revitalization’
Rural residents still account for 41 percent of China’s 1.4 billion population. Promoting rural development will remain a major challenge for the Chinese government in the coming decade