The Chinese economy has met an annual growth target of around 7 percent set by the Central Government for 2015 in the past few months,with new driving forces being formed.To address the current economic risks and challenges,China must accelerate reform and opening up.In the process,there needs to be a balance between maintaining stable economic growth,advancing reforms and control ing risks.When the economy is facing increasing downward pressure,macro controls should focus on boosting demand,especially consumer spending.This is not only a prerequisite to ensure sound and sustainable economic growth but is a feasible option for current macroeconomic policy. The Chinese economy has met an annual growth target of around 7 percent set by the Central Government for 2015 in the past few months, with new driving forces are formed. To address the current economic risks and challenges, China must accelerate reform and opening up. In the process, there needs to be a balance between maintain stable economic growth, advancing reforms and control ing risks.When the economy is facing increased downward pressure, macro controls should focus on boosting demand, especially consumer spending. This is not only a prerequisite to ensure sound and sustainable economic growth but is a feasible option for current macroeconomic policy.