Li Yining, a renowned economist at Peking University

Li Yining, a renowned economist at Peking University

We should remain confident about economic restructuring as the growth rate enters the new normal. Slower development means higher-quality expansion, and the external headwinds from the sluggish global economy will increase uncertainty about domestic growth. Without the property industry, the Chinese economy would lack pulling power. The country should continue to develop the property sector, loosen the home-purchase policies, and offer more affordable and low-priced housing. The country must create new markets to spur consumption and stabilize growth when structural reform deepens.