Top 10 economic events that made news in 2014

During a year that will see China record its slowest growth rate since 1990, the government has still been working flat-out to maintain what it considers a healthy level of growth while at the same time pushing ahead with economic reforms set out at the Third Plenary Session of the 18th CPC Central Committee in November last year. The emphasis in 2014 has been very much on restructuring and transitioning, to an economy that enjoys more sustainable growth. China Daily has picked out what we think to be the top 10 business and economic moments, of what turned out to be an eventful year.

This year's economic slowdown, likely to result in China missing its GDP growth target of 7.5 percent, has seen the government refrain from the large stimulus measures of the past in favor of smaller moves to support growth.

Much of this was decided in March at the meeting of the National People's Congress and Chinese People's Political Consultative Conference. The leadership made its commitment to focus on quality growth and restructuring of the economy rather than the straight pursuit of GDP growth. This decision paved the way for the economy to start its transition to a new era of slower, more sustainable growth driven by consumption, which has become known as "the new normal."