www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Chinese economy adjusting to 'new normal'

(Xinhua) Updated: 2015-08-13 15:52

BEIJING - Jinjiang used to be a manufacturing boomtown, a place making shoes and garments for American and European supermarket shelves.

But these days, the city on China's southeast coast, like many of its manufacturing bases, is losing its edge because of rising wages and lack of product innovation.

"I'm considering moving to Bangladesh," said Lin Genghuang, a Jinjiang native who owns a shoe factory. "Business is barely holding up here."

Lin said the company's export volume is still climbing, but rising wages, the appreciation of the yuan and intense price competition are squeezing the already paper-thin profit margin.

After China's World Trade Organization accession in 2001, cheap labor has fueled its export boom and powered the economy to become the world's second largest. But China's manufacturing sector is running into problems these days: squeezed from one end by markets with even lower labor costs, such as Vietnam and Malaysia, and yet struggling to move to a higher value chain because of intensified competition from developed nations.

Some 3,000 km away from Jinjiang, in the northeastern city of Harbin, a deepening economic malaise is forcing companies to reinvent themselves to survive.

Harbin Boiler Company Ltd, a state-owned thermal power equipment manufacturer, is experiencing double blows -- the slowing economy and a national campaign to curb pollution and cut emissions.

With orders falling and profits shrinking, the company has no choice but to change, its president, Wang Dexing, said.

To improve competitiveness, the company is striving to develop new products, expand markets in emerging economies and tap into new businesses such as sea water desalination, nuclear power equipment and environmental protection.

This is a part of China's broader economic reality: Anemic economic momentum is driving the government to seek new sources of growth while forcing domestic and multinational companies to look for a Plan B.

Weighed by a property market downturn, cooling investment growth and unsteady demand both at home and abroad, China's economy has stumbled during the past two years and is widely expected to post its weakest growth in a quarter of a century this year.

Although growth is slowing, it is more balanced and sustainable -- a "new normal," as it is called by Chinese President Xi Jinping.

Under the "new normal," the importance of growth speed is eclipsed by immensely complex structural reforms going on to transform the economy to one that relies more on the services sector, domestic spending and innovation.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美国产大片 | 国产成人精品aaaa视频一区 | 99久久精品毛片免费播放 | 91久久另类重口变态 | 美日韩一区二区 | 真人一级毛片 | 综合色久七七综合七七蜜芽 | 女性无套免费网站在线看 | 国产91精品一区二区麻豆亚洲 | 女人张开腿让男人桶免费最新 | 国产精品9| 外国成人网在线观看免费视频 | 亚洲欧美日韩在线一区二区三区 | 免费一级成人毛片 | 国产色视频在线观看免费 | a一级爱做片免费 | 日韩美女视频在线观看 | 久草免费手机视频 | www日本免费 | 久久这里只有精品免费播放 | 九九精品久久久久久噜噜 | 精品综合久久久久久98 | 女人张开腿让男人 | 三级网站在线免费观看 | 国产精品久久久久网站 | 特级欧美午夜aa毛片 | 国产成人免费网站在线观看 | 久久综合久久久久 | 亚洲高清在线观看看片 | 精品国产一区二区在线观看 | 91视频国产91久久久 | 三级色网 | www.亚洲天堂网 | 亚洲图片国产日韩欧美 | 美女被男人桶到嗷嗷叫爽网站 | 一区二区三区中文国产亚洲 | 中文字幕视频在线 | 久久久成人网 | 国产精品一区二区免费 | 国产精品一区二区久久精品 | 美女扒开双腿让男人桶 |