Bottom of Downturn and Economic Transformation and Upgrading—Analysis and Prospect of Economic Situation from 2014 to 2015

Abstract

In 2014, China’s economic downward pressure increased, the growth of consumption was basically stable, there was again a rise in the growth of exports, the growth of investments continued to fall, and the real estate industry entered a transitional period of adjustment. The major source of the pressure of the economic downturn was the declining speed of the growth of real estate investments. Economic growth is expected to reach the bottom in 2015, the market demand should be stabilizing, and the tasks of transformation and upgrading should be great and heavy. The government should combine stabilizing the economic growth with promoting economic transformation and upgrading, continuously improve the developmental environment, improve the adaptability of the micro foundation and the economic structure to changes in the environment, and accelerate the cultivation and the consolidation of economic growth in the new normal situation.