Finally, historical experience with industrialised economies also tells us that the marginal return on capital diminishes as countries grow richer and accumulate more capital per worker. This means that in China a transition is needed from an economy driven by growth in factor inputs to one driven by efficiency and productivity improvements.
This way, we can be assured of the economy’s sustained growth in the long run. As in the past, we will continue to rely on BAIPHIL’s steadfast support in terms of providing training assistance to bank professionals to ensure that they are better skilled and equipped to handle the demands of a sophisticated and competitive financial arena.