BEIJING, Nov. 22 (Xinhua) -- Without the modernization of county-level economy, the modernization of 1.4 billion Chinese people and Chinese modernization would be unattainable, a think tank report said.
The report, titled "New Era County Economics," was released on Friday by Xinhua Institute, a national-level think tank affiliated with Xinhua News Agency, at the Belt and Road Forum for International Think Tank Cooperation held in Nanjing, capital of east China's Jiangsu Province.
As a crucial component of China's economy, counties contribute approximately 40 percent of the national GDP, and county economy plays a vital role in the country's economic transformation and upgrading, the report said.
Counties serve as strategic hinterlands for the development of urban clusters and metropolitan circles, the report said, adding that the growth of county economy and the improvement of county governance capacity will inject strong momentum into integrated regional development.
The report noted that currently, over 50 percent of China's population still resides in county-level areas, forming a massive bedrock for domestic demand, with consumption growth in these regions significantly outpacing that of larger cities. Looking ahead, as county economy continues to grow, resident incomes rise, and infrastructure and public services improve, counties are bound to unleash even greater potential for domestic demand, making them a crucial sphere and direction for further expanding China's economic development.
As the primary spatial carriers of rural areas, counties serve as the principal platforms for promoting rural revitalization and integrating urban-rural development, as well as key entry points for enhancing rural incomes, according to the report.
The report also underscores that the counties, as the fundamental units of the national economy, play a critical role in advancing ecological civilization and realizing the vision of a Beautiful China.
The document elaborated the essence of New Era County Economics as follows:
-- Upholding the new development philosophy;
-- Putting people first;
-- Embracing innovation-driven development;
-- Adopting the correct strategic approach;
-- Upholding full leadership of the Communist Party of China. ■
