Major Tasks for 2015
- Maintaining steady economic growth
- Fostering new growth points
- Upgrading agricultural production
- Coordinating regional development
- Strengthening social security network and improving people's quality of life
Eight Emphases for 2015
- Fulfilling people's demand
- Analyzing the consumption market and consumer psychology
- Guiding societal expectations
- Strengthening protection of property and intellectual property
- Fully tapping into entrepreneurial talent
- Improving education and increasing human resource competence
- Improving the ecological environment
- Advancing technology and innovation
What does 'new normal' mean?
Consumption: Mass featureless consumption has come to an end and customized consumption is becoming mainstream.
Export and international balance: China still has competitive edge in exports; high-level imports and large-scale exports coexist.
Market competition: Quality-based differentiated competition has replaced quantity-based price competition.
Environment: Plans for green, low-carbon production and recycling will be adopted in the face of global climate change.
Investment: Infrastructure interconnection, new technology, new products and new business models have enabled massive investment opportunities.
Production: Smarter, smaller-scale professional production will gain more popularity.
Risk control: Economic risks are controllable in China, though it may take time to defuse risks caused by high leverage and asset bubbles.
Macro-regulation: The effects of massive stimulus measures are decreasing. China should digest the excess capacity while using market mechanism to explore industrial development in the future.
Production factors: Cheap labor force used to be China's biggest comparative advantage, but China's economic growth is currently more dependent on the quality of human resources and technological progress.
(Source: Xinhua News Agency)