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PREMIER WITH A MISSION

Premier urges less overcapacity

Premier Li made the first inspection tour of 2016 on Jan 4 and 5 in north China’s Shanxi province, which is known for large coal reserves and output.

ACHIEVEMENTS

Chinese enterprises continue to grow business in US in 2015

The relationship between Chinese and US economies continued to grow in 2015, with China surpassing Canada to become the United States’ largest trading partner in November.

Annual report on innovation 2015

China saw an upsurge in mass entrepreneurship and innovation, with a Nobel Prize win and tens of thousands of new businesses.

KEY INDICATORS

China’s service outsourcing grows in 2015

The country’s service outsourcing industry continued to grow in 2015, with both onshore and offshore contracts posting remarkable increases in value.

Consumption boosts economic growth

Consumption contributed 66.4 percent to the GDP in 2015, becoming a stronger force driving economic growth.

China economy grows 6.9% in 2015

China’s economy expanded 6.9 percent year-on-year in 2015, according to data from the National Bureau of Statistics.

INSIGHT

Growth challenges and gains

The economic slowdown indicates the progress of China’s strategic shift away from a dependence on investment and exports toward more sustainable growth driven by consumption and innovation.

PHOTOS

VIDEOS

GLOBAL PERSPECTIVE

Data show success of transformation

China’s economic data in 2015 indicate that its economic transformation is starting to take effect, said a Russian expert.

China’s growth envy of developed world

China is definitely on track in terms of its real GDP growth, said Jim O’Neill, British Commercial Secretary to the Treasury.

IMF sees transition in China’s economy

Director of International Monetary Fund says China’s economic growth model is going through a legitimate transition.

2015 IN REVIEW

Internet Plus becomes a reality in China

Chinese home appliance makers are giving dimensions of reality to the Internet Plus strategy championed by Premier Li Keqiang.

Internet key to China’s economic reform

Online connectivity is bringing changes to almost all sectors of China’s economy, and has become key to economic reform.

Entrepreneurship and innovation show impact

Mass entrepreneurship and innovation leads to signs of economic improvement amid tough downward pressure.

WORLD MEDIA VIEW

The trend to greater reliance on consumption rather than investment and industry is one the government has long said it wants to encourage.

Services are now the main drivers of China’s growth. In the third quarter, healthcare, education, law and accounting boosted China’s growth figure.

“Underlying conditions are subdued but stable,” said Julian Evans-Pritchard, an analyst at Capital Economics in Singapore.

China has been attempting to shift from an export-led economy to a consumer and services-led one.