As China's economy enters the New Normal, a key challenge is widening income gaps and the State needs to take measures to prevent the trend.
China's economy grew at its weakest pace in six-and-half years in the third quarter, but beyond the headline number, analysts see signs of rebalancing.
Chinese think tank researchers call for a more active approach in the country's foreign economic relations in the 13th Five-Year Plan (2016-20).
It will be an enormous achievement for China if the world's second-largest economy can grow at 6 to 6.5 percent over the next five years, said World Bank expert.
The fundamentals of China's economy are unchanged, though the economy grew only 6.9 percent year on year in the third quarter, lower than 7 percent in the first half of the year.
The Chinese economy's slowing to a six-year low in the latest quarter highlights the urgency of effective reforms to the economic system, but panic over the country's growth prospects is unnecessary.
China's financial system is under control and reforms will not stop despite temporary government intervention.
A further cut in GDP growth is being advised by economists for 13th Five-Year Plan to pave the way for the switch to a consumption-driven economy.
With the introduction of the 12th Five-Year Plan (2011-15), China began a new stage of consumption, undergoing the transformation from a society dominated by purchases of daily necessities to one characterized by the consumption of services.
China will step up efforts to promote the online sales of agricultural products as part of its broad plan to leverage e-commerce to alleviate property in rural areas, senior officials said on Friday.
China will continue to push forward capital account liberalization and renminbi internationalization, a senior representative from the People's Bank of China said in London on Friday.
With the introduction of the 12th Five-Year Plan (2011-15), China began a new stage of consumption, undergoing the transformation.
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