China's economy is in a gear-changing phase but near the end of it, Zhang Liqun, researcher at the Development Research Center of the State Council, said at a forum on Thursday.
Zhang said although some are concerned about China's economy, the slowdown has been smooth since 2012.
Moreover, consumption and investment in the country have shown positive signs, indicating the economy has started to bottom out.
Zhang predicted China would be able to achieve the 7 percent GDP growth target for 2015. He also believed China's economy will see a good start for the 13th Five-Year Plan period (2016-2020) as the GDP growth will likely to top 7 percent.
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