Quality:New Driving Force of Growth under the New Normal:An Empirical Analysis Based on the Data of the Macroscopic Quality Observation in 2014-质量院英文网
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Quality:New Driving Force of Growth under the New Normal:An Empirical Analysis Based on the Data of the Macroscopic Quality Observation in 2014

April 7, 2016

Cheng Hong and Li Yanhong

(Institute of Quality Development strategy, Wuhan University;Coordination Innovation Center for Macro Quality Management in Hubei Province)


Abstract: After China entering the new normal, the function of labor, capital and other traditional elements has diminished. China needs to find new driving force of economic growth. The analysis of the quality data based on Macroscopic quality observation in 2014 shows that quality has become the important new driving force of growth. It mainly shows in five aspects: The change of product/service quality evaluation has a highly consistency with the fluctuation and trend of China’s annual GDP; The structural differences of quality evaluation drive the change of industrial structure;Quality information asymmetry restrain the growth of effective demand; The reduce of quality duality of the urban and rural relieves the economy duality of the urban and rural in our country; The evaluation of product quality has influenced the regional economic development pattern in our country to a large extent. The elastic coefficient of product quality evaluation and GDP growth is 0.21.Quality has a significant effect on China economic growth.


Key Words: Quality Evaluation; Macro Quality Observation; Survey Data; Economic Growth


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