Besides economic restructuring, the new leadership also faces other challenges.

China's leadership transition is about to be completed with Xi Jinping elected as Chinese President at the 12th National People's Congress (NPC), the country's top legislature. But the new government is about to be put to the test, amid a complicated national and international environment.

To many, the challenge for China is not just to grow, but rather, to transform.

Jia Kang, member of Chinese People's Political Consultative Conference (CPPCC), said, "Instead of sticking to an 8 percent rule, we have continued to set the target at 7.5 percent this year, to focus more on the quality of economic growth, and transforming the growth model."

To double the size of the economy by 2020 in real terms, the new leadership have set their minds on economic rebalancing, towards more consumer spending.

Experts say urbanization is key to this process, as rural residents move to higher-paying jobs and begin spending more on upgraded lifestyles. For this vision to come true, NPC deputy Cai Jiming said that land reforms should be accelerated.

"My motion this year is that the country should only expropriate farmers lands for the purpose of public interests. For other purposes, the country could buy the land from farmers, or encourage them to trade land lease rights with real estate developers in the market. This will allow farmers a bigger share of the commercial value," Cai said.

A bigger share of the added value could safeguard the rights of China's rural residents, and mitigate a growing source of social unrest. Cai said it also helps to change the over-reliance of local governments on land sales.

"Local governments could impose a property tax as a source of their revenues. This could be a step in changing China's fiscal and taxation system," Cai said.

Experts say the government also needs to tackle the household registration system for a fairer distribution of social welfare.

The transformation of the economic growth model also requires technology. For a country that has been the world's factory for many years, this is a crucial element in moving up the value chain.

Chen Jingwei, CPPCC member, said, "Technological innovation could reduce surplus, and reduce cases of dumping. We should continue to boost quality, rather than quantity."

Chen Jingwei lauds the government's restructuring plan to reduce administrative intervention in social and market issues. He said it gave enterprises time to innovate and build brands.

Sustainability considerations and environmental management poses another challenge for the new government. New policies are in dire need to alleviate pollution and reduce carbon emissions.

Si Fuchun, CPPCC member, said, "What the government needs right now is to focus more on prevention, retire heavily polluting factories, and reduce car exhaust, and not just take expedient measures that don't deal with the cause of the problem."

And the biggest challenge of all is probably the one coming from the party itself. Chinese citizens are becoming vocal against corruption. The call for a systematic approach to fighting corruption and following the rule of law is getting louder.

Chen Jianguo, CPPCC member, said, "The country's brewing a five-year-plan to fight corruption, but I think we should aim to be faster given the severity of the issue. We should make the most of public supervision, meanwhile also strengthen the rule of law."

As a rising power in the world, China also needs to manage its international relations strategically as it integrates with the world.

(CNTV.cn March 15, 2013)