New sectors of the economy will account for 12% of China’s GDP in 2017

Almaty. September 26. Silkroadnews – New sectors of the economy will account for 12% of China’s GDP in 2017, Xinhua news agency reported.
According to the report, China’s new economy will account for an estimated 12 percent of the country’s annual GDP this year. China’s development strategy of innovation and industrial integration is seeing some early success.
The new sectors of the economy demonstrate sustainable growth rates. Over the past three years, an average of more than 40,000 new market entities were registered each day, with about 70% of them operating actively.
According to the researcher of the Renmin University National Academy of Development and Strategy Zhang Jie, new sectors of the Chinese economy are experiencing a key stage when the quantity transfers into quality.
China’s economic development should be based on integration between innovation and industrial production, the report says.
By 2020, the agency notes, the government expects the total output of new sectors to make around 15% of GDP.