Slower pace no reason for pessimism

Even slowing down, the annual GDP growth rate of 7.4 percent is still among the highest in the world and the Chinese economy has entered a new era of stable growth. That provides a good opportunity, as well as exerting pressure, for the authorities to adjust the economic structure, promote domestic consumption, and better coordinate among different provinces for the healthier development of all.

People's Daily, Dec 2

As global economies dwell in recession, there is little hope of propelling China's GDP growth through exports; at the same time, the consumption rate cannot be raised in the short term, and investment faces overcapacity. All three horses that were pulling China's economy are weak now and it will be a tough task to maintain the growth rate.