How to reform our mode of growth

China's substantial economic growth model has resulted in the increasing contradiction between China's economic and social development and the pressures to support its population, resources and ecological environment. Six decades since the founding of New China, China's gross domestic product has increased by 14 times, while consumption of mineral resources has multiplied by 40 times. China's consumption of steel products accounted for about 27 percent of the world's total, while cement was more than 40 percent.

This growth model is unsustainable in the future. The impact of the international financial crisis on China is an alarm for the nation's unreasonable growth trend.

Institutionally speaking, the market can't fulfill its role, partly because of inexperienced markets in land, energy and capital, as well as the excessive interference of administrative decrees.