Slower growth is good for China economic growth

China central government has rolled out government work report,saying the economic growth can be lowered to 7.5%, which is different from 8 percent protection.

The economic growth rate is said to be an eight-year low.

We all know the current economic conditions are European debt crisis and US uncertain economic recovery.

China is growing on an export-oriented economy but the international business partners may lower their expectations.

In short term, the economy may slow down while stronger consumptions may be intrigued in China market, which is really huge and China and global economy can benefit mutually.

Premier Wen Jiabao told the annual session of the National People's Congress that this year's growth target had been cut to 7.5 per cent in a bid to refocus the economy.

China needs deeper reform in politics and economy which can support China sustainable development. We can not just claim the reduced growth rate is a bad thing.

When the economy is booming with a great momentum, on one can spare time or energy on reform work. A slowdown move gave different industries opportunities to adjust capacity, resources allocation or achieving rationalization.

In the past decade, China's growth rates have been mainly driven by exports and government spending.