China's Economy 2015: Reform and Rebalancing to Sustain Growth under the "New Normal"

Having chalked up double-digit rates of growth for more than three decades, China's economy has in recent years slowed down, with only 7.4% growth for 2014. Growth for 2015 may further moderate to be just about seven per cent. President Xi Jinping has embraced a low growth threshold as the "New Normal" as what is most crucial for Xi is whether the economy is on track to rebalance and reform.