There is not much difference whether China's economic growth is targeted at 7% or 7.5% because both are still categorized as medium-high growth rate. The growth rate is relatively lower than the past and this indicates that China’s economy has entered the transformation phase. ANBOUND’s research team believes that it is tolerable as long as the growth rate is maintained at 7%-7.5%. Reasonable growth is more important than some specific numbers. However, it depends on central government’s judgment as it can be flexibly adjusted.