Further Structural Reform Needed in the People's Republic of China

At an event in Beijing, ADB President Takehiko Nakao said the People’s Republic of China (PRC) requires further structural reform in its pursuit of high-income status. Read More

Better Roads Boost Organic Farming in the Greater Mekong Subregion

An improved road network and a new approach to the fresh produce industry are helping farmers in the Greater Mekong Subregion enter the market for organic vegetables. Watch Video

Structural Reforms More Important Than Growth Targets in PRC

Steady consumption and rising external demand will support economic growth in the People’s Republic of China in 2014, especially if the government continues an accommodative macroeconomic policy package, says ADB report. Read More

Developing Asia Fastest Growing Region

Developing Asia remains the fastest growing region globally despite slower-than-expected growth in major industrial countries as key economies move ahead with structural reforms, says a new ADB report. Read More

Overview

After more than 3 decades of rapid economic growth that significantly reduced poverty and lifted living standards, the People’s Republic of China (PRC) has transformed into an upper middle-income country. Nevertheless, significant development challenges remain, many of which are associated with urbanization, regional and rural–urban disparities, and environmental degradation.

In recent years, ADB has shifted its support from infrastructure to increasing emphasis on “softer” sectors, with an enhanced focus on innovation and value addition. This involves knowledge transfers, and the introduction of new technologies that are responsive to the PRC’s changing circumstances and development needs.

Fast Facts

1,360.72 (2013)
Population in millions

0.5% (2008-2013)
Average annual population growth rate

10.2% (2012)
Rural population living below the national poverty line