Chinese economy to adapt to 'new normal'

Chinese economy will stick to its plan of seeking progress while maintaining stability in 2015, by adapting to the "new normal" of development and focusing on raising the growth quality, said Zhu Zhixin, vice chairman of the National Development and Reform Commission.

"We will maintain economic operation within the reasonable range, place more emphasis on transforming pattern and adjusting structure and strive for breakthroughs in reform."

Further reforms in major fields are planned, including continuation of cancellation of administrative approvals; deepening income distribution system reform and increasing resident's income; improving policies and measures to stabilize foreign trade, according to Zhu.

"In 2015, China's economic development still faces complicated environment both at home and abroad," he said.

"We will also continue to improve people's livelihood in 2015, through implementing more active employment policies and try to achieve more sufficient employment with better quality."

Residents' income increased faster than economic growth in 2014. The national per capita disposable income in the first three quarters was 14,986 yuan last year.