The Growth of China's Industrial Output Since the Reform: Double-Track Pricing and Border Competition

Since the reform, especially the reform of local industrial sectors since the 1980s, the industrial production in China has maintained a good growth momentum, avoided the bitter experience of production landslide and collapse (the so-called “L” growth curve) in the early transitional period in Russia and Eastern European countries and realized the smooth transition and industrial production growth in transition. Moreover, the state-owned industrial sectors continue to maintain its dominant position in industrial growth activities, making great contributions to both industrial output and industrial output growth.