Services, consumption key to China's growth

Editor's note: At the China-US People's Dialogue, co-hosted by the National Committee on US-China Relations and Tsinghua University's Center for International Security and Strategy, last week, Zhu Min, former deputy-managing director of the International Monetary Fund and former vice-president of the People's Bank of China, shared his insights on the future of China's economy.

Q1: Faced with slower global growth and trade, how can China, a country traditionally reliant on trade, create new engines of growth?

A1: China is now focusing on three new growth engines to ensure continued economic progress. The first is increased domestic consumption: