| | | | PROBLEMS OF MODERN ECONOMICS, N 2 (90), 2024 | | | | SOCIO-ECONOMIC DEVELOPMENT IN FOREIGN COUNTRIES | | | Medynskaya I. V.
Chair of International Economics and International Economic Relations, St. Petersburg State University of Economics PhD (Economics), Professor
Gao Lei
PhD student, St. Petersburg State University of Economics
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| | | The article analyzes countermeasures for China’s economic transformation and modernization. The current state of China’s economic transformation and modernization reforms is discussed on the bases of the “two circulations” concept. The authors distinguish the countermeasures of the Central Committee of the Chinese Communist Party in the fields of agriculture and industrial production, taking into account the improvement of the system of university innovation activities aimed at increasing the level of national scientific and technological potential of the country as a whole. The article singles out problematic situations in various sectors of the country’s economy and shows that countermeasures reduce regional barriers and assist participants in the single national market with regard to realization of their business opportunities; this happens as a result of innovative processes, through active transformation in the field of advanced scientific and technical achievements and innovative developments. | | Key words: China, economic transformation, modernization, the concept of «two circulations», industrial production, agriculture, institutional reforms, university innovation | | Pages: 142 - 145 |
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