The Study of Chinese Economic Growth Mode Under the New Normal

In recent years, China's economic growth rate has gradually changed from high-speed growth to middle-speed growth. And the speed of economic development has declined steadily. China's traditional economic growth has not adapted to the current economic growth needs. The General Secretary of the Communist Party of China, Xi Jinping, has proposed the concept of new "new normal", a new view of governance. And we cannot help thinking about ways and exports of the transformation of our economic growth pattern. Based on the study of the characteristics and trends of economic growth under the new normal, and the impact of the change of economic growth mode under total factor productivity, this paper finds that China's traditional "extensive economic" growth model relying on labor input and government investment is gradually changing, relying on technological innovation and institutional innovation to become the main economic growth mode under the new normal. Advancing supply-side reform and insisting on sustainable development is an important measure to implement under the new normal economy.