"We should remain confident about economic restructuring as the growth rate enters the new normal. Slower development means higher-quality expansion, and the external headwinds from the sluggish global economy will increase uncertainty about domestic growth. Without the property industry, the Chinese economy would lack pulling power. The country should continue to develop the property sector, loosen the home-purchase policies, and offer more affordable and low-priced housing. The country must create new markets to spur consumption and stabilize growth when structural reform deepens."

Li Yining, a renowned economist at Peking University

"The quality of economic growth is what really matters, rather than the quantitative rise in GDP. As a growth target, I think 7 percent is achievable in 2015 because it allows room for a wide range of policies and measures to stimulate growth. However, to achieve high-quality growth requires much more. High-quality economic growth means the economy is driven by new points of growth rather than old ones, and an improving economic structure will support it. Consumption needs to keep rising. The percentage of disposable income in GDP and the number of new jobs created also need to rise to ensure high-quality growth."