The Evolution Of New China’s Industrial Policy And Its Performance Evaluation

Abstract:The industrial development has always occupied a pivotal position in China economic development process since the founding of new China. After more than 60 years of development, China’s industry has made remarkable growth, but the process is twists and turns. Hence, it is significant to analysis the evolution of industry policy and policy performance in sixty years.In order to comb and explain the evolution of China’s industrial policy from 1952-2012, this paper builds a policy framework under the perspective of the history. Then, evaluate industry policy from the perspective of the performance of policy and policy goal in 60 years. Finally, provide the rule for building the industry policy during the "new normal" period for China.Based on objective perspective, the assessment of new china’s industry policy is divided into two periods. Industrial policy in the planned economy period are mainly used the way of statistical description, through a detailed comparison of the implementation of policy and the results of policy objectives in every development stage, comparative analysis the performance of industrial policy. In the market economy period, industrial policy is evaluated during the China’s industrial modernization and new industrial era by constructing the index system respectively.The results of evaluation show that from the perspective of policy objectives, during the planned economy period, China’s industrial development has basically reached the policy aims which established an independent industrial system, and built a solid foundation for the future development of China’s heavy industry. After the reform and opening up under the guidance of industry policy, the country achieve the intermediate stage of new industrialization in the first decade of the new century, innovation-driven capacity increase year by year, and the policy objective are completed better. From the perspective of policy performance, in the longitudinal comparison, the results show that the volatility of the industrial policy is larger from 1952-1982, reflecting the effects of the country’s economic growth and social welfare is poor, and the volatility of industry policy and social welfare keep a high consistency. This shows that at first three decades of reform and opening up, the impact of industry policy on society is enormous. After 1982, industrial policy performance’s level is keeping a stable rise, the effect of the policy is comprehensive, and more reflected on the aspect of ecological environmental benefits, it explained that after the reform and opening up, the impact of the ecological environment is more important for our industry policy. The improvement of policy is mainly brought by the ecological environment and resource using efficiency.In the lateral comparison, the results show that before the reform and opening up, the performance of China’s industrial policy reflected in the economic and social aspects behind some comparable large developing countries. But in the aspect of social transformation and infrastructure construction, the industry policy in this period is better than other developing countries. After the reform and opening up, the performance of Industrial policy is reflected excellent in economic development, technological innovation and ecological benefits are increasing year by year, but in social development is reflected mediocre. The comprehensive level of China’s industrial policy is only behind Russia among developing countries.Thus, in the background of Chinese economy into "the new normal", excepting pay attention to the innovation and economic benefits, it is also need to continue to improve social benefits and ecological benefits. In the end, under the guidance of industrial policy, our final target is to promote people’s development.