Overcoming the contradiction between promoting economic growth and transforming the economic growth pattern

Promoting economic growth has become the first and foremost objective of macro-control since China experienced a drastic economic downturn in the fourth quarter of 2008. Now China is at a special stage of transition characterized by the transformation of the economic growth mode. While promoting economic growth, the government must effectively coordinate the relationship between economic growth and the transformation of growth mode. This is not a task that can be done easily. To promote economic growth, the central government has selected a number of industries and formulated an industrial revitalization plan for each of these them. Revitalizing these industries helps promote economic growth at the present stage but propelling these industries alone still cannot fully meet the requirements for transforming the economic growth pattern. To coordinate the relationship between promoting economic growth and transforming the economic growth pattern, it is currently imperative to adjust China’s industrial upgrading strategy and to pay attention to intra-industrial upgrading, particularly process upgrading.