This presentation discusses the experience of Chinese economic growth in the past forty years (1978–2017). It assesses the outcomes and policy implications of economic restructuring and rebalancing since 2012, in response to the challenges and constraints resulting from the old model of growth. It discusses the key drivers for rapid growth in the past. Against these, it analyses the slower present growth. Finally, it presents a possible trajectory for future growth resulting from fundamental changes in government strategies and policies with respect to domestic reform, demographic change, technological progress, and the changing external environment.