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Evaluating the development of China's modern industrial system

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  • Han, Qingjiang
  • Deng, Changyi

Abstract

This study develops a comprehensive evaluation index for China's modern industrial system, comprising 26 key indicators across three dimensions: industrial structure upgradation, industrial structure rationalization, and industrial factors synergy. Using provincial data from 2011 to 2019, we assess the development level of China's modern industrial system. Findings indicate a significant improvement in the overall level of China's modern industrial system during the sample period, driven primarily by advancements in industrial structure, technological innovation, and the integration of modern finance with the real economy. However, the development is hindered by challenges in inter-industry structural upgradation, agricultural and service sector improvements, and human resource utilization. To further enhance the modernization of China's industrial system, it is crucial to focus on inter-industry structural upgrades, address deficiencies in the agricultural and service sectors, and bolster human resource utilization for the real economy. These insights are valuable for developing countries aiming to advance their own industrial development.

Suggested Citation

  • Han, Qingjiang & Deng, Changyi, 2025. "Evaluating the development of China's modern industrial system," Finance Research Letters, Elsevier, vol. 74(C).
    • Handle: RePEc:eee:finlet:v:74:y:2025:i:c:s1544612324017057
    DOI: 10.1016/j.frl.2024.106676
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    References listed on IDEAS

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    1. Daron Acemoglu & Pascual Restrepo, 2020. "Robots and Jobs: Evidence from US Labor Markets," Journal of Political Economy, University of Chicago Press, vol. 128(6), pages 2188-2244.
    2. Ju, Jiandong & Lin, Justin Yifu & Wang, Yong, 2015. "Endowment structures, industrial dynamics, and economic growth," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 244-263.
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    Cited by:

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    2. Shen, Xiaobo & Lin, Boqiang & Wang, Zhicheng, 2025. "Industrial informatization and electricity substitution: Towards a cleaner energy utilization structure," Energy, Elsevier, vol. 333(C).
    3. Zhang, Li & Wang, Yubao, 2025. "The dynamic evolution of fintech empowerment, industrial structure rationalization, and green economic efficiency," Finance Research Letters, Elsevier, vol. 85(PE).
    4. Tu, Minghui & Wang, Yuyan, 2025. "Density as defense: Product space relatedness and export resilience during the COVID-19 pandemic," International Review of Economics & Finance, Elsevier, vol. 102(C).

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