Economic liberalisation slowing in China: OECD
BEIJING (AFP) - Economic liberalisation has slowed in China, the OECD said in a major report on Friday, March 22, urging the country's Communist rulers to step up efforts to level the playing field for state-owned and private firms.
A long-standing commitment to looser control has boosted productivity and efficiency in the economy, the Organisation for Economic Cooperation and Development said in its Economic Survey of China, which also tipped growth this year of 8.5 per cent.
But progress on opening up has stalled since 2008, the advanced economies' policy forum said, as Beijing relied on big-ticket government projects to ward off the impact of the global financial crisis.
China's leaders have repeatedly pledged to refocus the economy towards domestic consumer demand, rather than relying on exports and infrastructure investments.