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China’s communist leaders are promising to revolutionize the world’s second largest economy and move on from being the world’s workshop. Unlike most communist governments, China’s one-party state has survived by embracing capitalism to deliver new wealth. Chinese officials recently reported they would reach their target for annual economic growth of 7.5 percent this year despite the impact of the global slowdown. Leaders hope this recovery from its slowest period of growth since early 2009 could cement a cyclical rebound in the country.
A Chinese national flag is reflected on a fashion poster at a shopping mall in Beijing, China, on Tuesday, Nov. 13, 2012. (AP Photo/Vincent Yu)
Residents walk past the iconic CCTV building in Beijing on Nov. 16, 2012. The color red has long had special significance in China, symbolizing health, wealth, and good wishes. Its red army and a sea of red flags and banners came to characterize both cities and countryside following the success of the 1949 revolution. However, in the more than three decades since the death of revolutionary leader Mao Zedong and the jettisoning of orthodox Marxism, red has taken on different meanings and contexts, some ancient, some very modern, finding its way into home furnishings, luxury items, clothing, and leisure goods, as well as the restored vestiges of Beijing's imperial heritage. (AP Photo/Vincent Yu)
Hotel hostesses who serve the Communist Party delegates jump for photographers on Tiananmen Square, near the Great Hall of the People, where the closing ceremony for the 18th Communist Party Congress was held in Beijing on Wednesday, Nov. 14, 2012. President Hu Jintao stepped aside as Communist Party leader to clear the way for Vice President Xi Jinping to take the helm in China. (AP Photo/Alexander F. Yuan)
A luxury car passes a shopping mall in Beijing on Nov. 16, 2012. (AP Photo/Vincent Yu)
Chinese Communist Party delegates hold voting ticket holders as they leave the Great Hall of the People after the closing ceremony for the 18th Communist Party Congress in Beijing, China, on Wednesday, Nov. 14, 2012. President Hu Jintao has stepped aside as Communist Party leader to clear the way for Vice President Xi Jinping to take the helm in China.(AP Photo/Alexander F. Yuan)
Hostesses embrace against the cold on Tiananmen Square as delegates arrive at the Great Hall of the People for the start of the closing ceremony of the Communist Party Congress in Beijing on November 14, 2012. The week-long Communist Party Congress will end with a transition of power to Vice President Xi Jinping, who will govern for the coming decade amid growing pressure for reform of the communist regime's iron-clad grip on power. (Ed Jones/AFP/Getty Images)
Visitors take photos at Tiananmen square in Beijing on November 5, 2012. (WANG ZHAO/AFP/Getty Images)
Two Chinese paramilitary police officers patrol at Tiananmen Square after the closing session of the 18th National Congress of the Communist Party of China on November 14, 2012 in Beijing, China. (Photo by Feng Li/Getty Images)
Two staff members of the Great Hall of the People take their seats during the 18th National Congress of the Communist Party of China in Beijing on November 9, 2012. Vice President Xi Jinping had moved closer to taking the reins of power and is expected to replace President Hu Jintao as party chief in a once-a-decade power transition, setting the stage for his promotion to president of the world's most populous nation, expected by March 2013. (WANG ZHAO/AFP/Getty Images)
Attendants wait to serve tea before the 18th Communist Party Congress held at the Great Hall of the People on November 8, 2012 in Beijing, China. The Communist Party Congress will convene from November 8-14 and will determine the party's next leaders. (Photo by Lintao Zhang/Getty Images)
A security guard stands beside clothes hanger racks inside the Great Hall of the People, the venue of the 18th National Congress of the Communist Party of China, in Beijing, on November 14, 2012.(REUTERS/Carlos Barria)
A delegate sits on a bus as it prepares to leave outside the Great Hall of the People following the closing ceremony of the Communist Party Congress in Beijing on November 14, 2012. The week-long Communist Party Congress will end with a transition of power to Vice President Xi Jinping, who will govern for the coming decade amid growing pressure for reform of the communist regime's iron-clad grip on power. (Ed Jones/AFP/Getty Images)
A rickshaw is reflected in a glass pane as a worker prepares to carry the glass in Beijing on November 21, 2012. China's Communist leaders are promising to revolutionize the world's second largest economy and move on from being the world's workshop, but economists say the monumental task faces major hurdles. (WANG ZHAO/AFP/Getty Images)
The China World Trade Center in Beijing's central business district on November 29, 2012. China's gross domestic product will hit 100 trillion yuan ($16 trillion) by 2020, close to the size of the United States economy in 2012, the official Xinhua news agency reported, quoting an economic forecasting official. (REUTERS/Jason Lee)
Pedestrians walk past a crane at a central business district in Beijing on November 29, 2012. China will meet its target for annual economic growth of 7.5 percent this year despite the impact of the global slowdown. (WANG ZHAO/AFP/Getty Images)
A group of migrant workers carry bags as they walk down a flight of stairs at a bus station in Beijing on November 21, 2012. China's Communist leaders are promising to revolutionize the world's second largest economy and move on from being the world's workshop, but economists say the monumental task faces major hurdles. (WANG ZHAO/AFP/Getty Images)
A man sleeps inside the Forbidden City in Beijing on November 13, 2012.The Communist Party of China is holding its 18th national congress that will usher in China's once-in-a-decade top leadership transition. (REUTERS/Carlos Barria)
A vendor stands on a tricycle with his goods as he makes his way along a street in Beijing on November 22, 2012. China's manufacturing activity grew in November for the first time in 13 months, HSBC said on November 22, in a further sign of strength in the world's second-largest economy after a marked slowdown. (WANG ZHAO/AFP/Getty Images)
A mall screen shows the seven new leaders of the Chinese Communist Party, in Beijing on Thursday Nov. 15, 2012. Xi Jinping became leader of China on Thursday, securing the Communist Party's top spot and oversight of the military in a political transition upset by scandals that have added fuel to public demands for change as the country faces slower economic growth. (AP Photo/Lee Jin-man)
Two men walk through a newly built shopping mall, which includes a Christmas tree in the main forecourt, in central Beijing on November 27, 2012. (REUTERS/David Gray)
A vendor arranges rings in a gold store in Huaibei, Anhui province on September 29, 2010. With jewelry stores already flooding shopping districts in Beijing and Shanghai, retailers are shifting their focus to smaller cities in hope of mining a rich appetite for products which make up the bulk of gold-buying in a nation eclipsing India as the No.1 consumer of the precious metal. (REUTERS)
A salesgirl holds a gold bar marking the upcoming year of the snake, on sale at a goldsmith shop in Beijing on November 7, 2012. China recently released a slew of figures showing growth of the world's second-largest economy is gaining pace, as the ruling Communist Party convenes to anoint new leaders for the next decade. (AFP/Getty Images)
Shoppers walk along a popular shopping district in Beijing on Nov. 16, 2012. (AP Photo/Vincent Yu)
A man reads next to his makeshift bicycle repair cart along a road in front of a poster of a construction site, in Beijing's central business district on November 29, 2012. China's gross domestic product will hit 100 trillion yuan ($16 trillion) by 2020, close to the size of the United States economy in 2012, the official Xinhua news agency reported, quoting an economic forecasting official. (REUTERS/Jason Lee)
Residential buildings are seen in Wuhan, Hubei province on July 24, 2012. China's recovery from its slowest period of growth since early 2009 could cement investor expectations of a burgeoning cyclical rebound. Property prices - which Beijing has vowed to bring down to a reasonable level - remain arguably the biggest risk to pro-growth policies, which could be scaled back if housing inflation begins to reassert itself in the face of easier credit conditions. (REUTERS)
Chinese tourists walk past a sign at a park beside the Great Hall of the People which is the site of the Communist Party Congress in Beijing on November 12, 2012. Pledges for more transparency by top Chinese Communist officials have been met with skepticism. Wang Yang, the top Communist official in the southern province of Guangdong, and Yu Zhengsheng, the party boss of Shanghai, both said Friday that Chinese officials would begin releasing details of their assets in the future. (MARK RALSTON/AFP/Getty Images)
A couple poses for their wedding pictures at the 798 Art District in Beijing on Wednesday, Nov. 21, 2012. The 798 Art District, often compared to New York City's Greenwich Village, is a thriving community of about 400 galleries, shops and restaurants on the eastern edge of Beijing, housed in a complex of former electronics factories built with the help of East Germany in the 1950s. (AP Photo/Lee Jin-man)
A policeman checks his radio as he sits on a motorized vehicle at Tiananmen Square. President Hu Jintao warned China's incoming leaders on Thursday that corruption threatened the ruling Communist Party and the state, but said the party must stay in charge as it battles growing social unrest. (REUTERS/Petar Kujundzic)
A Chinese woman does her makeup at a shopping mall in Beijing, China, on Sunday, Nov. 11, 2012. (AP Photo/Vincent Yu)
Women pose in body shaped metal frames titled "You and Me" and installed by artist Zhang Zhaohui at the 798 Art District in Beijing, China, on Wednesday, Nov. 21, 2012. The 798 Art District, often compared to New York City's Greenwich Village, is a thriving community of about 400 galleries, shops and restaurants on the eastern edge of Beijing housed in a complex of former electronics factories built with the help of East Germany in the 1950s. (AP Photo/Lee Jin-man)
Models rest backstage before the She guang Hu Collection Show on October 31, 2012 during China's Fashion Week in Beijing, China. (Photo by Lintao Zhang/Getty Images)
A Chinese man watches a TV showing a live broadcasting of the opening session of the 18th Communist Party Congress, at a subway station in Beijing, China, on Thursday, Nov. 8, 2012. Preparing to hand over power after a decade in office, China's President Hu Jintao called Thursday for sterner measures to combat official corruption that has stoked public anger while urging the Communist Party to maintain firm political control. (AP Photo/Andy Wong)
A customer checks bottles of imported wine at a supermarket in Beijing, China. Rising incomes have driven up demand for wine and other luxury goods, making China a lifeline for European and American vineyards when the global crisis battered traditional markets. The Chinese have "helped Bordeaux a lot these past three years," said Florence Cathiard, owner of Chateau Smith Haut Lafitte in the Pessac-Leognan area of France's southwest, home of high-end Bordeaux wine. (AP Photo/Alexander F. Yuan)
Chinese consumers sample food from Taiwan during a Taiwanese food fair as the demanded for imported food becomes more common in Beijing on November 23, 2012. Increasingly anxious Chinese consumers are regularly hit with food scares ranging from cancer-causing toxins found in cooking oil to food items that are expired or contain dangerous chemicals and additives. In 2008, China was rocked by one of its biggest-ever food safety scandals when the industrial chemical melamine was found to have been illegally added to dairy products to give the appearance of higher protein content. (MARK RALSTON/AFP/Getty Images)
Models showcase designs on the catwalk during the ESMOD Graduate collection show of the China Fashion Week S/S Collection 2013 at Beijing Hotel on October 29, 2012 in Beijing, China. (Photo by Lintao Zhang/Getty Images)
A worker arranges ornaments for a Christmas decoration display outside a hotel in central Beijing, China, on Thursday, Nov. 29, 2012. (AP Photo/Alexander F. Yuan)
A tourist rides a horse before the mini replicas of London Bridge and the Eiffel Tower in Beijing World Park, in a southwestern suburb of Beijing on November 23, 2012. Beijing World Park, with a collection of miniature replicas of famous architecture from all over the world, attempts to give visitors a chance to see the world without having to leave Beijing. (AFP/Getty Images)
Two boys play with swords in front of the miniature replica of the United States Capitol building in Beijing World Park, in the southwestern suburb of Beijing on November 23, 2012. (AFP/Getty Images)
A soldier steps out of a trailing toilet near Tiananmen square in Beijing on November 19, 2012. In 2001 the World Toilet Organization declared November 19 as World Toilet Day to raise awareness on sanitation conditions worldwide. (WANG ZHAO/AFP/Getty Images)
An elderly woman makes her way in Beijing on November 26, 2012. China's elderly face increasing uncertainty three decades after the one-child policy took hold, with no real social safety net, the law has left four grandparents and two parents with one caretaker for old age -- and bereaved families with none. (WANG ZHAO/AFP/Getty Images)
A paramilitary policeman guards an underpass across the road from the Great Hall of People in Beijing on November 13, 2012. The Communist Party of China is holding its 18th national congress that will usher in China's once-in-a-decade top leadership transition. (REUTERS/Carlos Barria)
A vendor prepares to carry packages after unloading them from his vehicle in front of a market in Beijing on November 22, 2012. China's manufacturing activity grew in November for the first time in 13 months, HSBC said on November 22, in a further sign of strength in the world's second-largest economy after a marked slowdown. (WANG ZHAO/AFP/Getty Images)
A couple shops for furniture near Chinese-style chairs made from Vietnamese rosewood in a furniture shop in Beijing. Voracious demand for wood to feed factories for exports and satisfy wealthier consumers at home has turned China into a magnet for the illegal timber trade, causing other countries to strip their forests as Beijing does little to discourage the practices, an environmental group said in a report released on Thursday, Nov. 29, 2012. (AP Photo/Ng Han Guan)
Traffic commutes through heavy smog in Beijing on November 21, 2012. China will start assessing the "social risk" of major projects, its environmental protection minister said, after anti-pollution protests forced a series of industrial ventures to be cancelled. (WANG ZHAO/AFP/Getty Images)
A vendor sits inside a newspaper stand on a downtown street in Beijing on Friday, Nov. 16, 2012. (AP Photo/Vincent Yu)
A man plays with a radio controlled model car at the Temple of Heaven in Beijing on Tuesday, Nov. 20, 2012. The Temple of Heaven, built nearly 600 years ago, was where the emperor came to pray for good harvests. It is now a popular park where the elderly gather to socialize, dance, sing and do other cultural activities. (AP Photo/Lee Jin-man)
Pedestrians cross a street at a central business district in Beijing on November 29, 2012. China will meet its target for annual economic growth of 7.5 percent this year despite the impact of the global slowdown, state media quoted a top trade official as saying on November 28. (WANG ZHAO/AFP/Getty Images)
A visitor looks at a Beiqi E150EV car at Beijing Electric Vehicle Company, in Beijing on November 7, 2012. China's central government will allocate funding to support technological innovation projects such as electric vehicles, plug-in hybrid vehicles and fuel cell vehicles in the nation's new energy auto industry, according to an announcement from the Ministry of Finance. A statement on the ministry's website also said that funds will be used to support the development of new vehicle batteries. (REUTERS/Jason Lee)
Traditional Chinese lanterns are pictured hanging at the Houhai bar district in Beijing on November 27, 2012. The 500-year-old "hutong" (traditional courtyard house) district centered around two man-made lakes has now been turned into a bar and restaurant hub that is one of Beijing's major tourist attractions. (MARK RALSTON/AFP/Getty Images)
A Chinese woman eating candy floss admires unusual restaurant doorknobs shaped as hands at the Houhai bar district in Beijing, on November 27, 2012. The 500 year old Hutong (traditional courtyard house) district centered around two man-made lakes has now been turned into a bar and restaurant hub that is one of Beijing's major tourist attractions. (MARK RALSTON/AFP/Getty Images)
A young Chinese couple kisses beside the Qianhai Lake as winter weather arrives in Beijing on November 19, 2012. Transient urban lifestyles have combined with frenetic social change, booming wealth and more relaxed sexual mores to complicate the process of finding a partner in China. One female contestant on a matchmaking show recently rebuffed a potential suitor, saying she would "rather cry in a BMW car than laugh on the backseat of a bicycle".(MARK RALSTON/AFP/Getty Images)
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