Editor’s Note: China's economy grew by 7.6 percent year-on-year in the first half of 2013, a marked slowdown in comparison with near double-digit growth recorded two years ago. In an interview with CCTV News on 15 July, 2013, Prof. Zhu Ning, Deputy Director of SAIF, explained why China suffers from the economic slowdown. 

Zhu Ning: Well, I think it is due to both internal and external reasons that are acting globally where the weak overseas demand and economy recovery globally has not really picked up and also the appreciation of “Yuan” has made partially China to rely on the exports. The internal thing which I think has put more importance for the slowing down in the past few months of economic growth is mainly because the new leadership of China has picked up a new role for restructuring Chinese economic growth model which might possibly be slowing down but also more sustainable. And going forward, I think I will be very happy to see I think Chinese really pick up some serious moments to adjust the overseas capacity problems in many sectors of Chinese economy and hopefully they will reduce and decrease it in many areas of Chinese economy. And I will hope the thing is growing in a longer run.
 
Zhu Ning: I’m not too worried. Actually you can see that the most significant change in the policy is still has been a big slowdown in the investment for infrastructure and investment projects. And those factors which have been contributing to Chinese fast economic growth is also putting the emphasis on many key productivities and factors. So, I think with this slowing down, and we have the precious time to really do some serious jobs in adjusting the economic growth model. And also, I think only with the slowing down in the economy growth speed and China really put more emphasis on the quality not just the speed of economic growth. That is actually what I think.

Source: CCTV News