China needs to transform economic growth pattern: economist

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20needs%20to%20transform%20its%20economic%20growth%20pattern%20and%20the%20next%2030%20years%20will%20be%20vital%20for%20the%20transition%2C%20a%20visiting%20Chinese%20economist%20said%20here%20on%20Monday.%3CBR%3E%22China%20needs%20to%20transfer%20its%20development%20pattern%20from%20scale%20dividend%20into%20productivity%20and%20institutional%20dividend%2C%22%20Qin%20Xiao%2C%20chairman%20of%20Boyuan%20Foundation%20and%20former%20head%20of%20China%20Merchants%20Group%2C%20Ltd.%2C%20said%20at%20a%20forum%20here.%3CBR%3EChina%27s%20economic%20development%20has%20been%20relying%20on%20the%20so-called%20%22scale%20dividend%22%20during%20the%20past%20three%20decades%2C%20but%20such%20a%20development%20mode%20could%20not%20be%20sustained%20with%20an%20aging%20population%2C%20heavy%20reliance%20on%20exports%20and%20other%20challenges%2C%20he%20said.%3CBR%3E%22Entering%20a%20new%20phase%22%20of%20%22healthier%2C%20more%20balanced%20and%20more%20sustainable%22%20development%2C%20Qin%20said%2C%20China%20needs%20to%20pursue%20%22the%20productivity%20dividend%22%20and%20%22institutional%20dividend%22%20in%20economic%20development.%3CBR%3E%22The%20theme%20for%20the%20next%2030%20years%20is%20to%20achieve%20endogenous%20growth%20through%20improvement%20of%20human%20capital%2C%20technical%20innovation%20and%20the%20upgrading%20of%20industrial%20structure%20from%20low%20value-added%20to%20high%20value-added%2C%22%20he%20said.%3CBR%3EChina%27s%20leaders%20have%20recently%20been%20reiterating%20the%20need%20to%20transform%20the%20country%27s%20economic%20development%20pattern%20and%20adjust%20the%20economic%20structure%20at%20a%20faster%20pace.%3CBR%3EChinese%20Premier%20Wen%20Jiabao%20said%20in%20October%20that%20accelerating%20the%20transformation%20of%20China%27s%20economic%20growth%20pattern%20is%20a%20task%20of%20great%20urgency%20for%20the%20country%27s%20development.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E