China eyes 8% growth for over 20 years

China still enjoys a huge development potential and will maintain an 8% growth rate for at least next 20 years, according to Justin Yifu Lin, former chief economist of the World Bank.

China still enjoys a huge development potential and will maintain an 8% growth rate for at least next 20 years, according to Justin Yifu Lin, former chief economist of the World Bank.

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He was speaking during a seminar on Monday at Peking University, Beijing in his first public appearance in the country after completing a four-year tenure as World Bank chief economist and senior vice president, Xinhua reported.

Justin said that developing countries should promote the growth of industries where they have comparative advantages, while governments will play a key role in selecting and developing those industries.