Luo Songsong songsongluo@126.com SIR Christopher A. Pissarides, a 2010 Noble laureate in economics, said this week that recent economic and social reforms announced by Chinese leaders are positive signals for the country’s future growth. Pissarides spoke at the 15th China Hi-Tech Fair, which continues through Thursday at the Shenzhen Convention and Exhibition Center in Futian District. He addressed reports that followed the Third Plenary Session of the 18th Central Committee of the Communist Party of China, held in Beijing earlier this month. The reports said the government would decisively strengthen the role of markets in resource distribution. National authorities also announced Friday that the country’s one-child policy would be adjusted to allow families in which at least one parent is an only child to have a second child. “The policies are needed for the country to move toward a right direction,” Pissarides said. “To ease the one-child policy is an insightful decision and a symbol of social progress, which can encourage more high-sector development with (the country’s) increasing younger population.” He said China’s rapid GDP growth rate, attributed to the urbanization drive of past decades, would slow down as huge national wealth has been accumulated. In terms of the Qianhai area, Pissarides said the freedom of capital movement, a thriving local economy, a highly educated labor force and a sophisticated financing system could combine to make the planned financial and service industry center globally competitive. “The local government should introduce more overseas high-level experts,” Pissarides said. He said this year’s high-tech fair is focusing on providing the latest technology and information for businesses to apply and improve their productivity, and thus increase wages and become more competitive in the world. “The manpower released from the assembly line can go into service industries, like retailing, health care, accounting, legal services and more,” he said. | 