upgrading of economic structure and remarkable enhancement of coordination

The National Bureau of Statistics today released "Economic Structure Upgrading and Development Coordination Significantly Enhanced - The Second Report Series of Achievements in Economic and Social Development on the 70th Anniversary of the founding of New China". The report shows that since the founding of New China, especially since the reform and opening up, China's economic structure has undergone profound changes, from a backward agricultural country to the world's largest manufacturing country. The report shows that before the reform and opening up, the service industry in China was mainly the general life service industry, with a high proportion of wholesale, retail and transportation industries. In 1952, the proportion of value added of wholesale and retail, transportation, storage and postal industries to the value added of the tertiary industry was 35.9% and 14.9%, respectively. Since the reform and opening up, the economic system reform has been carried out in an orderly manner, a large number of service functions have been separated from the public sector, while the consumption level of residents has been continuously improved, which has led to the diversified development of the service industry. In 2010, the proportion of value added of wholesale and retail, transportation, storage and postal industries in the tertiary industry declined to 19.7% and 10.3%, respectively. The proportion of value added of financial and real estate industries rose to 14.1% and 12.9%, respectively. Since the 18th National Congress of the Communist Party of China, new technologies and new models such as e-commerce, data consumption, modern supply chain, Internet finance have been changing rapidly, and service industry has become a hot spot of innovation and entrepreneurship. In 2018, the value added of leasing and business services, information transmission software and information technology services accounted for 5.2% and 6.9% of the value added of the tertiary industry, respectively; the national online retail sales of physical goods reached 7.198 billion yuan, an increase of 25.4% over the previous year, and the proportion of total retail sales of consumer goods rose to 18.4%. With the rapid development of mobile express business, express business volume reached 50.7 billion units in 2018, an increase of 26.6% over the previous year.

From the point of view of demand structure, in the early days of the founding of New China, economic growth mainly relied on general consumption. In 1952, the final consumption rate was 78.9%. Since the Eighteenth National Congress of the Communist Party of China, China has actively constructed a long-term mechanism for expanding domestic demand, exerting the fundamental role of consumption and the key role of investment. The contribution rate of domestic demand to economic growth has been constantly rising, and the demand structure has been gradually rationalized. In 2018, China's final consumption contributed 76.2% to economic growth.

From the perspective of ownership structure, before the reform and opening up, the development of multi-ownership economy was seriously insufficient. Since the Eighteenth National Congress of the Communist Party of China, China has unswervingly consolidated and developed the public economy, continuously deepened the reform of state-owned enterprises and state-owned assets, unswervingly encouraged, supported and guided the development of non-public economy, actively supported the private economy, stimulated the vitality of non-public economy, promoted each other by various ownership economies, and greatly liberated social productive forces. At present, more than 25 million private enterprises in China contribute more than 50% to tax revenue; the gross domestic product, fixed assets investment and foreign direct investment created by private enterprises exceed 60%; the proportion of high-tech enterprises in private enterprises exceeds 70%; and the contribution rate of private enterprises to new employment has reached 90%.