Coordinated development for optimized growth

Coordinated Development is the second of the Five Major Development Concepts, President Xi Jinping's guiding strategy to transform China's economy. In order to optimize economic development, both the efficient allocation of resources and equitable access to resources are essential.

Historically, from the beginning of reform, China's single-minded focus on economic growth, necessary at the time, generated inevitable problems - especially imbalances across geographies, sectors and classes - the disparities between urban and rural and between the eastern/coastal and western/inland regions. Moreover, economic competition among provinces and cities encouraged inefficient allocation of resources and exacerbated industrial overcapacity.

While China now recognizes that the market must play a "decisive" role, there are still issues, such as how to integrate diverse regions and how to rebalance urban and rural areas.