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China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development. This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth. It is imperative that we develop a modernized economy. This is both an urgent requirement for getting us smoothly through this critical transition and a strategic goal for China's development. We must put quality first and give priority to performance. We should pursue supply-side structural reform as our main task, and work hard for better quality, higher efficiency, and more robust drivers of economic growth through reform. We need to raise total factor productivity and accelerate the building of an industrial system that promotes coordinated development of the real economy with technological innovation, modern finance, and human resources. We should endeavor to develop an economy with more effective market mechanisms, dynamic micro-entities, and sound macro-regulation. This will steadily strengthen the innovation capacity and competitiveness of China's economy.
China's exports increased 7.2 percent in July from a year earlier, while the manufacturing purchasing managers index rose to a four-month high of 51.1, beating expectations and landing in expansion territory for a fifth consecutive month.
China's economy is actually beginning to climb the hill to present V-shared recovery, which is mostly coming from accelerating industrial production and robust export growth. Moreover, sustained growth in infrastructure investment and housing construction also has played a role, the magazine Foreign Policy said on Oct 29.
China's life sciences industry has received more than 0 billion in government funding and last year more than billion was invested into the local industry, according to ChinaBio Consulting.
China's efforts to curb financial risks are bearing some fruit as the overall leverage ratio has been controlled at a stable level, said Yi Gang, central bank governor.
来源：资阳报