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English>>People's Daily Online Exclusives

2015 in review : Top 10 news of China’s economy in the new normal

By Zhang Hongyu (People's Daily Online)    15:20, December 21, 2015

In 2015, the last year of the 12th Five Year Plan, China’s economy maintained stable growth. Here's a quick roundup of what made news in the year.

1. China’s economy maintains medium-to-high speed of growth

Recent data from China’s National Bureau of Statistics shows China’s economy growth rate in the first three quarters stood at 7 percent, 7 percent and 6.9 percent respectively. According to the rules of previous years, China should achieve the growth target of around 7 percent for the whole year.

2. Marketization reform of interest rates close to completion

On Oct. 24, The People's Bank of China scrapped the upper limit of interest rates on deposits of commercial banks and rural financial institutions, symbolizing the end of the marketization reform of interest rates. The reform has lasted nearly 20 years.

3. More countries sign free trade agreements with China

China signed a free trade agreement (FTA) with South Korea on June 1, and with Australia on June 17. Both agreements took effect on Dec. 20. On Nov. 22, China and the Association of Southeast Asian Nations (ASEAN) finished a deal to upgrade their free trade area, injecting fresh impetus into regional economic cooperation.


(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Hongyu,Bianji)

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