摘要
Since entering the"New Normal",China's economic growth has reached a new phase.Thanks to Reform and Opening-up since the late 1970s,China’s productive potential has been continuously released and the economy grew rapidly for a sustained period.However,the economy faces both old challenges stemming from the relatively extensive growth mode in the early stage,as well as new challenges putting pressure on resources and environment,leading to downward pressures on the economy.The Central Economic Work Conference(CEWC)in December 2013 pointed out that China has to deal simultaneously with slower economic growth,difficult structural adjustments and the impacts of previous economic stimulus measures.In 2014,President Xi Jinping,when visiting Henan Province,mentioned for the first time the"New Normal",stating that,"China’s economic development is still in an important window of strategic opportunity.
