“Lower growth is consistent with a gradual shift in China’s growth model, from manufacturing to services, from investment to consumption, and from exports to domestic spending,” the report said.
该报告表示:“较低的增长速度,与中国逐步转变增长模式的过程相符。通过这一转型,中国会从制造业转向服务业,从投资增长型转向消费增长型,从出口增长型转向国内开支增长型。”
Over the past decade the services sector has expanded from a 41 per cent share of the economy to 48.3 per cent last year. The sector is growing thanks to lighter business regulations, while industrial activity is playing a smaller role owing to an excess build-up in capacity and a deceleration in exports.
过去十年里,中国服务业占经济的比重已从41%扩大到去年的48.3%。由于相关商业监管放宽,中国的服务业正在增长之中。与此同时,由于此前积累的过剩产能及出口减速,工业活动占经济的比重正在降低。
While growth decelerates, so will the rise in urban wages. But unemployment should remain low and steady, the bank said.
世行表示,在增长减速的同时,城镇居民的薪酬增长也会减速,不过失业率将处于低位并保持稳定。
The report said more than 13m new urban jobs were created last year, exceeding a target of 10m. However, average disposable income growth in urban households slowed to a rate of 6.9 per cent last year, against rates of more than 8 per cent between 2010 and 2017.
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