Following this sustained period of strong growth in investment in intellectual property, this component now accounts for around 20 per cent of total non-mining investment, in nominal terms. By way of comparison, this share was just 3 per cent in the early 1980s (Graph 6). Conversely, the share of investment spending on machinery & equipment has declined over time.
On the other hand, as the core of modern economy, sound financial development guarantees the steady and fast development of the aggregate economy. To maintain healthy and fast economic development, the Chinese government has strengthened macro-economic management, deepened economic restructuring and steadily promoted the reform of state-owned commercial banks and capital market in recent years.