China has shifted from a very, very high gear of growth that was unbalanced. In the past 10 years, the leadership has focused a lot more on solving some of the legacy problems and advancing and investing for the future.

China will have a lower GDP growth rate, but development of better quality, more social development, more inclusion, little by little, for example the expansion of credit to small and medium-sized enterprises.

China's development needs to focus on both the high end for consumption to spur the economy, and, as it is doing, on the low end so the less-wealthy have access to basic services.

And the thing that I would do is to promote the development of healthcare and education. They really need to be almost free for all. This is the true goal of any society, providing free opportunity for education and for health, which are the two pillars of social development.

If you do this, people will always be happy because they will be free from the burden of fears. They will not save for precautionary reasons, just in case they get sick, just in case they need to study. Because they know that the government takes care of it. So it is good from the point of view of individual inclusion, but it is also very good for the economy, because you unlock a lot of the savings that the Chinese people have.

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