Chi Fulin, President of the China Institute for Reform and Development based in Hainan Province, said that transformation of the growth pattern and deepening reform are crucial to the realization of the Chinese dream.

Chi said that in the next decade, while China will continue to grow, it should avoid the "middle-income trap" and seek equitable and sustainable development. He suggested consumption should be an endogenous factor that drives economic growth, and more people should be able to share the fruits of prosperity. He said that the market should be kept competitive and efficient, and the government should be focused on public services.