The slowdown in China’s economic growth has been coming under heavy scrutiny recently. Premier Li Keqiang has summed up China’s continuing development in three neat catchphrases.
“Two Goals” refers to maintaining medium-to-high speed growth and reaching medium-to-high level development. “Two Combinations” means maintaining policy continuity and keeping expectations stable, while moving forward with reform and structural adjustment. And “Two Engines” means the continuing development drive: popular entrepreneurship and innovation, paired with an increased supply of public goods and services.
Premier Li says that following these principles will ensure China’s growth rate is adjusted without weakening momentum, and lead to a better-quality, more efficient, upgraded economy.