China's exceptional GDP growth, 11.4 percent in 2007, is now a thing of the past, and the country must tap its technological potential if it is to maintain stable growth in the coming decades.

In the short term, despite the initial signs of economic stabilization, the Chinese economy is yet to emerge from the woods.

The country's 7.8 percent year-on-year GDP growth for 2012, the lowest since 1999, heralds a new era of slower growth, and while urbanization, the great hope for future growth of overly optimistic economists, could bolster the economy, it will not keep the Chinese economy growing as fast as it used to.