New normal means a lot of things. As a foreigner who has visited China many times, the first thing that struck me is the lesser number of cranes now, than a decade ago. That means construction is progressing at a more normal pace. Income levels have also gone up. Ten years ago everybody wanted a car or apartment, but today the focus has changed. A lot of people in the country are concerned about the environment. Energy efficiency and green growth will definitely be an important growth driver.
Innovation and entrepreneurship hold the key to China's future because they can boost productivity to raise people's living standards and maintain competitiveness, according to a member of the managing board of the World Economic Forum.
Q+A: Klaus Kleinfeld
Editor's note: At the World Economic Forum's three-day meeting in Dalian, Liaoning province, China's economic growth is once again in the spotlight. More than 1,700 participants from 90 countries are attending "Summer Davos", opening on Wednesday, to chart a new course for growth as global recovery sinks into uncertainty. Before the conference began, business leaders from international companies shared their opinions with China Daily about China's economic prospects and what strategies they may take to readjust to the nation's new normal of growth.
Editor's note: More than 1,700 participants from 90 countries are attending the Summer Davos in Dailian, Liaoning province, from Wednesday to Friday. Their discussions will focus on transformational science, industry disruption, economic uncertainty, China's "new normal", environmental boundaries and "being human". Below four participants look at the influence of technology and innovation on economic growth.
Xia Yan, a 32-year-old software engineer at Yidatec Co, has seen her income increase as the software engineering industry has boomed in Dalian, a coastal city and an industrial hub in the south of Liaoning province.
"When I was still a university student, I had my first company registered here," said Liu Zhen, a young entrepreneur in Jinpu New District, Dalian, in Liaoning province. "After my graduation, I set up another company, and it took just one day to get the business license and corporate seal."
During a trip in August to survey the administrative service center of Jinzhou New Area in Dalian, Liaoning province, Zhang Shikun, secretary of the Party Working Committee and director of Jinpu New District's administrative committee, told the center's employees that "your work and your service represent the government's image and this is the government in the eyes of civilians".
On March 26, US tire manufacturer Goodyear set up its first research and development center in Puwan New Area in Dalian, Liaoning province, the company's first R&D facility in Asia.
Zhuanghe, in Northeast China's Liaoning province, is striving to build a modern ecological port city through industrial upgrading and environmental protection, said a senior official.
Zhuanghe port will become a new gateway to the sea in Northeast China for heavy equipment, household products and cold chain logistics, said Zhao Yongbo, mayor of the city.
Dalian in Northeast China's Liaoning province has invested 16.8 billion yuan ($2.64 billion) in building the China-Japan-South Korea Circular Economy Demonstration Base, said Shang Shuchen, deputy director of the Dalian Recycling Industry Economic Zone.
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