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China facts: The role of the private sector

 

The underdeveloped service sector represents a huge opportunity. The private sector, it turns out, is responsible for perhaps two-thirds of all economic output until today and almost all of the 250 million plus jobs created in cities since 1978. It also accounts for nine-tenths of exports and yet the private sector is often given insufficient credit for China's economic rise. Average growth in output for industrial private firms since 2008 has been 18%, twice as much as for industrial SOEs' *)         

 

 

*) the Economist 12th September 2015

 

 

 

 

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Hans Henrik Pontoppidan
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