Transition of economy starts

Growth rate must be prevented from falling too low to guarantee successful transformation of economic model

China's economy grew by 7.6 percent in the second quarter of this year, continuing a downward trend that began two years ago. At such a time, it's important that we make the economy stable for the present to ensure that long-term development occurs.

The slowdown is the result of a number of short-term causes. More importantly, though, it portends a transition in the economy.