What is the basis of economic development?

The basis of economic development is labor, technology, capital and other production factors and their effective combinations, and the evolution of these factors and their combinations has formed an internal mechanism to promote economic development. To judge the potential of economic growth, we need to understand the operation mode of the internal mechanism and analyze it from the material basis and industrial system accumulated for a long time in history. Since the founding of New China 70 years ago and the reform and opening up for more than 40 years, especially since the 18th National Congress of the Communist Party of China, China has accumulated a solid material foundation and established a complete industrial system. Labor, capital, infrastructure and other factors of production are rich in reserves and high in quality. The socialist market economic system can effectively mobilize and organize these factors, lay a solid foundation for sustained economic growth, and constantly form and release huge potential.

Huge economic volume. In 20 18, China's GDP exceeded 90 trillion yuan, which was 74 times higher than that of 1952 at constant prices, with an average annual growth of 8. 1%, making it the longest country in the world to maintain rapid growth. In 20 18, China's per capita gross national income reached 9732 dollars, which was higher than the average level of middle-income countries. At present, China is the second largest economy in the world, the largest country in manufacturing, the largest country in goods trade, the second largest country in commodity consumption and the second largest country in foreign capital inflow. At the end of 20 18, the balance of China's foreign exchange reserves was $3,072.7 billion, ranking first in the world for three consecutive years. 20 19 The number of top 500 enterprises in China has surpassed that of the United States. With the growing scale of the economy, the advantages of "large and stable quantity" and "scale economy" are becoming more and more obvious, which can effectively resist various external shocks and create favorable conditions for economic upgrading.

Rich in human resources. The population of China is nearly 654.38+04 billion, equivalent to the total population of developed countries, and the working-age population is more than 900 million, equivalent to the total population of the United States, Japan and the European Union. The quality of human resources in China is also constantly improving. Every year, there are more than 8 million college graduates, more than 5 million secondary vocational education graduates and more than 500,000 returnees. Since 2009, the total number of scientists and engineers in China has been higher than that in the United States, the scale of R&D personnel ranks first in the world, and the training of STEM (science, technology, engineering and mathematics) talents has been continuously strengthened. Rich human resources reserves, a unified and efficient labor market, and continuous improvement of incentive policies for entrepreneurship and innovation have promoted human resources to actively participate in the process of economic development and provided a strong impetus for economic development.