2015是中国经济调结构的关键年

China's economy has been facing uNPRecedented pressure this year. With the slowing recovery of the world economy and overcapacity of some industries in China, the national economy is in the midst of the New Normal. And economic restructuring has been a key phrase this year.

Just a few days ago, a brand new industrial group was launched in Beijing's Zhongguancun Science Park.

It's the Beijing-Tianjin-Hebei Big Data Corridor.

Beijing will focus on research and development; Tianjin plans to build equipment manufacturing centers; and Chengde and Zhangjiakou in Hebei Province will help store data.

"The big data industry is expected to create more than 5000 big data application companies, and lead the formation of an industrial scale worth nearly 500 billion US dollars, and an industrial cluster with a complete industry chain," said Zhang Yulei, Zhongguancun Management Committee.

Using high-tech to create a new industrial belt, is one of the reforms set for the Beijing-Tianjin-Hebei region.

Reforms are driven by the uNPRecedented pressure on the economy.

The economic structural problems are growing, resources and the environment are overburdened, and traditional pillar industries are seeing excess production capacity.

"The profits of the five industries of coal, iron and steel, petrochemicals, building materials and non-ferrous metal have decreased by 42.8 percent.  This indicates a huge structural change, which is the weakening of the traditional power industries," said Zhang Lianqi, economist.

In a key meeting of the ruling Communist Party in October, President Xi Jinping introduced the development concept of "innovation, coordination, green development, opening up and sharing".

"The new development concept has provided an important direction for the economic restructuring and industrial upgrading," Zhang said.

Three strategies -- the One Belt, One Road, Collaborative Development of the Beijing-Tianjin-Hebei region, and the Yangtze River Economic Belt were brought up in last year's Central Economic Working Conference.

And detailed plans were introduced this year.

" The strategies of the Yangtze River Economic Belt and Collaborative Development of the Beijing-Tianjin-Hebei region have promoted a further industrial shift to the central and western regions of China. It is an optimization of the industrial layout," said Wang Changlin, National Dev't and Reform Commission.

Also this year, the State Council unveiled a ten-year national plan, Made in China 2025.  It's designed to transform China from a manufacturing giant into a world manufacturing power.

Statistics show that in the first three quarters of this year, high-tech industries grew 10.4 percent, 4.2 percent faster than the overall industrial growth.  November figures show the industrial growth rate was at 6.2 percent, the highest in 5 months.

And the high-end equipment industry has emerged as an important driving force in development.

This year, China has signed nuclear power deals worth more than ten billion US dollars, with several countries, including the UK, Argentina, and Kenya.