PBoC Advisor: Economy Now at a Crossroads

(Beijing) – China is entering a crucial period of economic transition according to Li Daokui, an advisor to the People's Bank of China at a forum in Beijing on October 29.

Over the past few years, China's economy saw booming economic growth driven by hefty investment, the expansion of the real estate industry and local government land sales. But this development model has now matured, said Li, who now heads the Center for China in the World Economy (CCWE) at Tsinghua University.