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: 狠狠一区| 日本一区二区三区四区五区 | 台湾一级特黄精品大片 | 国产深夜福利 | 成人看片黄a免费看视频 | 久久精品成人国产午夜 | 18性欧美69 | 玖草在线播放 | 免费一级欧美片片线观看 | 日韩一级免费毛片 | 毛片免费观看网址 | 美女做爰视频在线观看免费 | 三级毛片在线免费观看 | 美女福利视频午夜在线 | 亚洲欧美日韩在线精品一区二区 | 免费一区二区 | 女在床上被男的插爽叫视频 | 中文字幕巨乱亚洲 | 亚洲成 人a影院青久在线观看 | 美国免费一级片 | 免费萌白酱国产一区二区三区 | 久久精品国产99精品最新 | 日本老熟妇激情毛片 | 成人欧美在线 | 一级毛片中文字幕 | 男女福利社 | 在线免费观看日本视频 | 欧美在线一级片 | 国产精品成久久久久三级 | 精品国产看高清国产毛片 | 亚洲国产成人综合精品2020 | 国产成人免费影片在线观看 | 国产一级免费视频 | 欧美ab| 欧美日韩国产亚洲一区二区 | 在线日韩欧美一区二区三区 | 国产成人久久综合热 | 97免费视频在线观看 | 欧美高清性色生活 | 免费看男女做好爽好硬视频 | 天天鲁天天爱天天鲁天天 |