China's Economy: Maintaining Stable Growth to Pursue Reform
Abstract
China's economy grew at 7.7% in 2013, slightly lower than the 7.8% of 2012 but higher than the 7.6% projected by most foreign observers. A 7.7% growth is still a highly creditable growth performance given that China's total GDP was US$9 trillion in 2013. A mere 7% growth will add to China in one year, half of Indonesia's total GDP or one-third of India's. China's economy is thus entering a new phase of stable growth.