Research on the Decline and Countermeasures of Township Industrial Structure in China

Authors

  • Xianzhen Yan

DOI:

https://doi.org/10.6981/FEM.202410_5(10).0012

Keywords:

Public Finance; Rural Economics; Macroeconomics; National Economics.

Abstract

Since the reform and opening up, the system dividend brought by the economic system reform, the large number of rural surplus labor force and other production factors to provide the advantages of the conditions for the towns in east China injected a huge development power, a time created countless rural “ten-thousand-yuan” households, entrepreneurs. However, on the one hand, after the Lewis turning point, the rural labor force from surplus to shortage, the township industry development is blocked; on the other hand, the State Council to develop the supply-side structural reform, put the technological innovation in the main position, and limited to the shortage of these elements, it is difficult to establish new enterprises with high quality. As a result, some towns were in trouble and a large number of industrial enterprises closed down. On the demand side, due to the balance sheet recession, people shift from the pursuit of profit maximization to the pursuit of debt minimization. The governments strategy of expanding domestic demand is difficult to show results, the fiscal stimulus is weak, the consumer demand of towns and rural areas is difficult to pull, and the industry & service industry are further depressed. Combined, these problems led to the economic recovery of Chinas townships and grassroots social and economic governance into deep water rapids, and the industrial structure of some townships began to decline. This decline is not caused by the migration of industry to big cities in the process of urbanization, but is mainly affected by macroeconomic effects and balance sheet recession.

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References

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Published

2024-10-11

Issue

Section

Articles

How to Cite

Yan, Xianzhen , trans. 2024. “Research on the Decline and Countermeasures of Township Industrial Structure in China”. Frontiers in Economics and Management 5 (10): 125-39. https://doi.org/10.6981/FEM.202410_5(10).0012.