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    China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty. The rate of growth has fallen further behind that of urban residents, leading to an increasing wealth gap between the cities and countryside. Since the late 1970s, the Chinese government has reformed the economy from a Soviet-type Centrally planned economy to a more market oriented economy.

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    Effects on State Budget

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    China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty. The rate of growth has fallen further behind that of urban residents, leading to an increasing wealth gap between the cities and countryside. Since the late 1970s, the Chinese government has reformed the economy from a Soviet-type Centrally planned economy to a more market oriented economy.

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    8 views6 pages

    Effects On State Budget

    Uploaded by

    ajaykumar0011
    China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty. The rate of growth has fallen further behind that of urban residents, leading to an increasing wealth gap between the cities and countryside. Since the late 1970s, the Chinese government has reformed the economy from a Soviet-type Centrally planned economy to a more market oriented economy.

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    Attribution Non-Commercial (BY-NC)
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    Effects on State Budget

    During 1993, output and prices were accelerating, investment outside the state budget was rising.

    Economic expansion was fueled by the introduction of more than 2,000 special economic zones (SEZs) and the inflow of foreign capital that the SEZs facilitated. The government approved additional long-term reforms aimed at giving still more play to market-oriented institutions and at strengthening central control over the financial system.

    Effects on Poverty Reduction


    Since the late 1970s, the Chinese government has reformed the economy from a Soviet-type Centrally planned economy that was largely closed to international trade to a more market oriented economy that has a rapidly growing Private sector and is a major player in the global economy. Since being introduced, these reforms have helped lift millions of its citizens out of Poverty. China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty.

    The poverty rate down from 53% in 1981 to 8% in 2001. China is a member of the Asia Pacific Partnership on Clean Development and Climate(APP). APP is a public-private partnership of six nations (Australia, China, India, Japan, The Republic of Korea, and The United States) committed to explore new mechanisms to meet national pollution reduction, energy security and climate change goals in ways that reduce poverty and promote economic development.

    Effects on Wealth Disparity


    In October 2005 approved the 11th FiveYear Economic Program (20062010) aimed at building a Harmonious society" through more balanced wealth distribution. Farmers income have continued to rise over the past two decades, the rate of growth has fallen further behind that of urban residents, leading to an increasing wealth gap between the cities and countryside.

    China's per capita income has grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty, but this rapid growth has been arising income inequalities.

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