EXPLORING THE EFFECTS OF INDUSTRIAL STRUCTURE CHANGES ON TOTAL FACTOR PRODUCTIVITY IN HENAN PROVINCE

Abstract

Economic development is an evolving process marked by continuous industrial restructuring, where the interplay between rapid economic growth and industrial transformation plays a pivotal role. China, since the inception of its reform and opening-up policy, has prioritized economic development, achieving remarkable success through a development model characterized by high energy consumption and substantial inputs. However, as the country entered a new era, characterized by a shift from high-speed growth to high-quality development, China's economic landscape underwent profound changes, necessitating a transformation in development strategies and industrial structures. Within this context, Henan Province, a significant inland region in China, transitioned from a primarily agrarian economy to a burgeoning industrial powerhouse. Despite these advancements, disparities in economic development and industrial structural shifts persist, with pronounced spatial differences. In 2020, for instance, Zhengzhou City led the province with a per capita GDP of 96,000 yuan, significantly surpassing other cities. This paper explores the evolving industrial structure of Henan Province, emphasizing the ongoing spatial imbalances in economic development and industrial transformation. The examination of these disparities is crucial in the pursuit of balanced regional development and economic growth.