As one of the main sessions of the 18th China Beijing International High-Tech Expo, China Financial Summit 2015, centred on "financial innovation and financial services under the policy of 'new normal'" is being held on May 12 and 13 at Beijing Financial Street.

 

The term "new normal" gained ground in China in May last year, and it is used to describe the need to remain cool-headed as economic growth slows.

 

After experiencing an annual 9.7 percent growth rate in gross domestic product over more than three decades, China should focus its new growth more on quality, energy savings and environmental protection.

 

Second, the nation has to pay more attention to economic structure reform, focusing on solving deep-seated problems that accumulated during the years of long-term, rapid development. This will maintain the health and sustainability of the economic development.

 

Third is the switch from traditional, factor-driven economic growth to innovation-driven economic growth.

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