Growth quality not quantity

Next five years should focus on new economic pattern based on balanced development of consumption, investment and exports

The average 7 percent growth target set by the Chinese government in the recently published 12th Five-Year Plan (2011-2015) demonstrates its determination to achieve normal and sustainable economic development after the previous pursuit of fast-track growth.

China has experienced a 10.48 percent growth rate year-on-year over the past decade, with its economic share in the world's total increasing to 8.5 percent in 2009 from 1.8 percent in 1978. The country replaced Japan to become the world's second largest economy in 2010, with its economic aggregate nearing 40 trillion yuan ($6.1 trillion).