Harbin's Ice Festival
Media playback is unsupported on your device

China's 'new normal' - rebalancing the 'miracle' economy

The Chinese premier, Li Keqiang, has warned that the national economy faces significant downward pressures this year.

He was speaking on the eve of the publication of the latest economic data expected to show that the country has grown at its weakest rate for nearly a quarter of a century.

At its peak in 2007 the Chinese economy was enjoying annual growth of over 14%, but in 2014 the rate of growth is likely to have fallen to 7.3%.

The BBC's China editor Carrie Gracie went to the north-east city of Harbin which is suffering many of the problems plaguing the world's second largest economy.

  • 19 Jan 2015
Go to next video: China slower growth casts its shadow