China’s Plan to Spur Growth: A New Slogan for Building Factories - The New York Times

As China’s leaders promote their strategy, other countries worry about manufacturing overcapacity and plans for more exports. By Keith Bradsher Reporting from Beijing From the top of the government, China is heavily promoting a plan to fix the country’s stagnant economy and offset the harm from a decades-long housing bubble. The program has a fresh slogan, presented foremost by Xi Jinping, the country’s top leader, as “new, quality productive forces.” But it has features that are familiar from China’s economic playbook: The idea is to spur innovation and growth through massive investments in manufacturing, particularly in high-tech and clean energy, as well as robust spending on research and development. And there have been few concrete provisions for how the government hopes to persuade Chinese households to reverse a prolonged slowdown in spending. Premier Li Qiang, the country’s No. 2 official, laid out the plan on Sunday in a speech to chief executives from around the globe, who ha

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