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COUNTRY PORTRAITcosts and a decline in investment.Mr Li pointed out that lower GDP growth was unavoidable and also happened to Japan and South Korea after their peaks. China’s new normal is a strategic adaptation to changes in the country’s economy, meant to ensure continued steady and sustain-able economic development.“While domestic infrastructure hasbeen almost completely developed, the New Silk Road initiative to link 63% of the world’s population will give China new opportunities to invest and to penetrate new markets,” Mr Li said. “Moreover, the production supply has exceeded domestic demand. The mobile phone company Huawei is an example of a Chinese enterprise that started seeking more businessopportunities outside the country.” After being castigated by inter- national green organizations, the Chinese government has also started to look into more eco-friendly measures for the new era of develop- ment. The income gap between suburban and rural populations is also being reduced. Certain bills were amended to encourage greater foreigninvestment in China.Thai entrepreneurs exploringbusiness prospects should focus on the changing demands of Chinese consumers, he said. Due to the rapid economic expansion of the past, the new generation has greater purchasing power and is willing to spend more on modern and recreational products. The industrial structure has shifted fromtraditional low-cost labour and mass production to tertiary industries such as tourism and hospitality. As the New Silk Road policies are also on the domestic agenda, the relevant provinces are already preparing for increased investment.“Several provinces that are gate- ways to the Silk Road initiative might be appealing options for investing in China,” Mr Li suggested. “It can be somewhere to the west, such as Henan, Shaanxi, Gansu, Qinghai and Ningxia, or in the east like Jiangsu, Zhejiang, Fujian and Guangdong.”China’s new normal will likely mean a more outward focus and greater opportunities for Southeast Asia.The New Silk Road will cover both terrestrial and maritime routes18 Elite+