Priorities Shift to Balanced Development

摘要

With its place on the global stage firmly cemented, China is taking a more qualitative approach to its economic growth. Sustainable development, environmental protection, income equality: These issues have increasingly prominent positions on policymakers' priority lists. Such evolving priorities are clearly reflected in the country's infrastructure development. China is and always has been strongly committed to improving infrastructure. Its rapid growth requires it. The World Bank's 1994 World Development Report focusing on infrastructure concluded that GDP growth and investment in infrastructure were directly correlated. A 1 percent increase in infrastructure investment corresponds to a 1 percent increase in GDP. The report, even today, provides key elements for evaluating infrastructure, and China provides an excellent example of success. Double-digit average annual growth rates have accompanied the country's heavy investment in infrastructure.