1. New normal

The phrase "new normal" was highlighted at a recent meeting of the Political bureau of the CPC Central Committee to convey the idea that China needs to focus on the quality of its economic development and adapt to a new situation. The new normal will be the hit phrase in the next five years, reflecting the direction of our economic development. Reform and innovation will be the two pillars.

- Chen Fengying, director of the Institute of World Economic Studies at the China Institutes of Contemporary International Relations.