China’s Economy 2018: Stabilising Slowdown to Gear up for a New Mode of Growth

China’s economy ended 2017 with 6.9% strong growth, having successfully stabilised its gradual growth deceleration from 2012. The rebound was partly the successful outcome of macroeconomic rebalancing towards domestic demand-driven growth based on rising consumption. The general policy tone for 2018 is not so pro-growth as higher quality economic growth is preferred. To fulfil his “China Dream”, Xi Jinping has a three-stage economic roadmap for the long-term development of China’s economy. For this, China needs to cultivate new sources of economic growth and make innovation and technological progress along with furthering structural reforms.