New development course

After decades of breakneck growth, China's economy has entered a new normal of medium-high growth. In the context of this economic deceleration and the complicated circumstances at home and abroad, the country's top leaders have mapped out a "new direction" for the world's second-largest economy and are resolved to pursue development that is "innovative, coordinated, green, open and shared" and press ahead with the supply-side structural reform.

China's development still offers important opportunities even as the economy adapts to its new normal. In fact, a series of major economic changes under the new normal has created new opportunities and pointed out the new direction for China's development.

Under this new direction, China's economy, albeit moderately slowed, will realize a more optimized structure and division of labor, create new driving forces, and develop stronger resilience and a greater capability to resist risks. In this way, China will be able to endure temporary hardship while pursuing higher-quality, more efficient and more sustainable development.