Seven opportunities of China's economy under the 'new normal'(3)

但广大的中西部和东北地区人均GDP依然不足5000美元,工业化依然处于高速发展的中期阶段.这不仅为东部产业升级提供有效的腾挪空间,也为中西部加速发展提供了契机.因此,中国产业的梯度大转移不仅大大延缓了中国工业化红利消退的速度,同时通过构建多元化的增长极使中国空间布局更加科学.

Fourth, the opportunity from "talents" and seeking second round of demographic dividend. The arrival of Lewis Turning Point and drawing close of aged society mean the traditional population dividend of China is wearing off. But it must be pointed out that it is only in the migrant worker sector that the problems of "being difficult to hire qualified workers" and "labor cost being on the rise" are most prominent. The layout of China's employment market features both "the difficulty of college students to land a job" and "the lack of migrant workers".

第四,"大人才"与构建第二次人口红利的机遇.刘易斯拐点的到来和老龄社会的逼近意味着中国传统的人口红利开始消退.但必须注意的是,目前"招工难"和"用工贵"问题主要凸显在农民工领域.中国的就业格局是"大学生就业难"与"民工荒"相并存.

With up to 7 million college students graduating every year, the starting salary of these students have started to draw close to that of farmer-turned workers. But that is the key point for China to shift from a populous country to one with powerful human resources.

每年高达700多万大学生毕业压力已经使大学生就业起薪与农民工平均工资开始拉平.而这恰恰是中国从人口大国迈向人力资源强国的关键.

It manifests that a large number of well-educated people have prepared China's industry upgrading with massive highly qualified and low-cost backup reserves. The second round of population dividend that features college students and human resources is replacing the traditional population dividend that features migrant workers and low-end labor force.

这说明大规模受过高等教育的人群已经为中国产业升级准备了大规模高素质、低成本的产业后备大军.以大学生和人力资源为核心的第二次人口红利开始替代以农民工和低端劳动力为核心的传统人口红利.

Fifth, the opportunity from "major innovation" and constructing technology dividend. When screening the various indexes of China's technology innovation, we will find that the new innovative development approach is taking shape while the extensive mode of economic development comes to an end. First, there is a significant growth in the number of patent applications: the number reached 2.577 million in 2013, up 15.9 percent. It accounts for 32.1 percent of the world's total, ranking the top in the world. Second, the expenditure in R&D increased significantly: it accounts for 2.09 percent of China's GDP in 2014, up 12.4 percent, or growing in a high-speed, moderate intensity level. Third, there is a great boost in the prosperity of technology market: in 2013 the trade volume in technology market reached 746.9 billion yuan, up 16 percent. Fourth, the export of high-tech products rose substantially, with the total volume climbing to $660.3 billion, or 30 percent of the total export volume. Fifth, the number of technology papers published overseas drew close to 300,000, making China one of the major powers of technology papers. Sixth, China boasts the world's largest team of researchers in science and technology sector. All these figures show that China will gradually obtain the dividend in technological innovation as long as it deepens reforms in technological system and encourages all kinds of innovative and creative activities. "Made in China" is shifting to "Innovate by China", along with the shift from labor intensive manufacturing to knowledge intensive industries.