In 2014, China, the second-largest economy in the world, despite the economic slowdown, made great progress in structure reform and stable growth.

With the economy performing within the reasonable range and the speed of growth no longer taken as the sole yardstick, the Chinese economy has entered a state of new normal. The gear of growth is shifting from high speed to medium-to-high speed, and development needs to move from low-to-medium level to medium-to-high level.

Here, let's look at key economic data of China in last year.

GDP grows 7.4 percent

China's 2014 economic growth edged down to a 24-year low of 7.4 percent from 7.7 percent in 2013, the first time that it missed the government's annual target in 16 years.