China’s economic growth will fly using three engines

Tell NATO that China is building a new secret aircraft for its economic airspace. Concern grows about China’s economy and its government has started to respond with a series of communiqués stressing on the fact that “despite a world economy still struggling to fully recover, and downward domestic economic pressure, China’s economic growth maintained at a reasonable interval.”

As China enters what it named a “new normal” that mixes lower economic growth with stronger economic foundations, Beijing has unveiled a three-engine system “to drive investment, consumption and exports.” With improved redistribution of power from the higher to lower levels of government, appropriate government involvement in the market, and optimization of services, the Chinese government aims to “rev up” the national economy.

The top priority remains investment – particularly infrastructure – valued at $531.61 billion in 2014 for which Beijing is committed to simplifying and improving administrative efficiency.