Statistics shows that in 2015, the gross annual production from the service sector alone accounted for half of the total GDP while final consumption expenditure accounted for 66.4% of GDP, an increase of 15.4% compared to last year.

British economists, however, have pointed out that the based on the actual price adjusted for inflation, there is hardly any real transformation in China's economy for the past ten years, neither the labor forces nor the capital has ever leave the industrial sector.

ANBOUND's scholars are of the view that the transformation of China’s economy should not be judged solely based on the changes in price, some of the industries in China are experiencing huge challenges and the vigorous efforts made by the government in transformation have certain effects.

Objectively speaking, the effectiveness of China's economic transformation may be overrated, but it is not without success.