New expansion drivers
Print Edition
CHINA should tap the private sector, services and e-commerce in the next five years to grow the economy as the current focus on credit expansion and investment will further unbalance development, Moody’s Investors Services said yesterday.
The output from services has been rising since the first quarter of last year, and the proportion of e-commerce in the total retail sales already amounted to over 10 percent — indicating potential as future economic growth drivers, said Michael Taylor, Moody’s chief credit officer for Asia-Pacific.
Focusing on these newly emerging sectors can reduce the economy’s reliance on credit and ensure sustainability for China’s economic growth in the medium term, he said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
