Strong supervision will ensure quality growth

After the annual sessions of China's top legislature and political advisory body, the leadership elected at the 19th National Congress of the Communist Party of China will fully assume its new duties and, noticeably, lead China on the way to achieve high-quality economic growth.

The resistance to economic globalization that has built up over the last few years has much to do with the poor quality of economic growth in many parts of the world. Greater emphasis on achieving higher and higher rates of economic growth has become an obsession for several countries, particularly among emerging markets. The obsession has led to over-exploitation of resources. Natural resources such as water and mineral deposits have been ruthlessly exploited leading to serious ecological degradation and damage to the environment. The consequences are visible in China, which, for the last few years has been trying hard to make its economic growth environmentally sustainable.

Greater attention to the rate of economic growth, as opposed to its quality, has also created problems of distribution. In spite of emerging markets such as China growing at high rates, the benefits of the growth have not been equally shared by all. This has widened the income gap among various sections of society.