Chapter 3 Chinese Economy in Post-crisis Era: New Transition & New Growth

China's economy is smoothly marching ahead toward the peak, which requires us to recognize the status quo, explore changes in the situation, face the future and plan the path. As a whole, the changes in the global situation and the new pattern of world economy after the financial crisis have not been able to support the rapid growth of China's economy to go along its original trajectory. Based on the major adjustment of the development mode, China's economy is expected to achieve steady growth in the long term on the platform with lower rate of growth, with its impetus from multiple economic transformation and sustainable upgrading. The improvement of the innovation system and upgrade of international competitiveness are the key. Besides the traditional transition of marketization, internationalization, industrialization and urbanization, the new transition of consumption growth, service industry development, green economy and digitalization (intelligentization)will determine the future of China's economy.