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The concept of the“Four Comprehensives”—an ideological framework that should guide the next steps of reforming Chinese economy and institutions—goes beyond political discourse.These new guiding mottos summarize a commitment to deepening the ongoing process of transformation carried on in the country Economic transformation The Chinese economy and its institutions are undergoing large-scale reforms aimed at creating a new development model,which shall be increasingly based on domestic consumption and innovation,instead of its past reliance on exports and huge investment in infrastructure.One of the most significant impacts of these changes will be the expansion of the already booming middle class in China,whose consumption will demand higher diversification and quality standards not only from the private sector,but from public services as well.Major Chinese companies must also shift their focus to internal consumers,while reducing their dependence on foreign markets.Some of these companies have already engaged in this change,embracing new technologies of production and moving to higher
The concept of the “Four Comprehensives” - an ideological framework that should guide the next steps of reforming Chinese economy and institutions-goes beyond political discourse. The new guiding mottos summarize a commitment to deepening the ongoing process of transformation carried on in the the country Economic transformation The Chinese economy and its institutions are undergoing large-scale reforms aimed at creating a new development model, which should be based on domestic consumption and innovation, instead of its past reliance on exports and huge investment in infrastructure. One of the most significant impacts of these changes will be the expansion of the already booming middle class in China, whose consumption will demand higher diversification and quality standards not only from the private sector, but from public services as well. Major Chinese companies must also shift their focus to internal consumers, while reducing their dependence on foreign markets.Some of these companies have already engaged in this change, embracing new technologies of production and moving to higher