Vice-minister calls for new economic growth model

China's current economic growth model is "unsustainable," and an "updated" style based on innovation must be forged, said deputy finance minister Wang Bao'an.

In an article published in the latest issue of Qiushi, a bi-monthly political theory periodical of the Central Committee of the Communist Party of China, Wang bluntly criticized the present growth model, calling it "unsustainable".

He characterized the feature of China's growth model as "high input, high resource consumption, high pollution, high growth" and "low output, low efficiency, low profit, low tech".