Infrastructure investment key to the private sector
Justin Yifu Lin, dean of Peking University's Institute of New Structural Economics, said that world-class infrastructure underpins the fast development and strong competitiveness of China’s platform economy and private enterprises like Pinduoduo and Meituan. “Certainly, the infrastructure investment is not as profitable as the private sector investment. But if you do not invest in these kinds of infrastructure, then the private sector would be very hard to have industrial upgrading or to have technological innovation,” the economist said, who is also former senior vice-president and chief economist of the World Bank. #economy #TwoSessions #ChinaPath #modernization
About Justin Yifu Lin
Justin Yifu Lin (Chinese: 林毅夫; pinyin: Lín Yìfū; born 15 October 1952) is a Chinese economist and professor of economics at Peking University. He served as the chief economist of the World Bank from 2008 to 2012, and was also the World Bank's senior vice president during that time. He has served as a State Council Counsellor of China since September 2013. Born in Yilan County, Taiwan, Lin was a ground force captain and company commander of the Republic of China Army on the Kinmen Islands, where ...
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