2018 is destined to be quite a year for Chinas macroeconomy. The steady recovery trend of Chinas macroeconomy starting from 2016 has been reversed due to the fission of the world economic structure, dramatic changes in market sentiment, variations of the microfoundation, superposition of mismatches in economic policies, and further concentrated exposure of structural institutional issues. The core indicators of the macroeconomy show a trend of “continued slow down” in “stable and changeable”, and the downward pressure continued to increase. This shows that Chinas macroeconomy has neither “bottomed out and stabilized” nor entered the “new cycle” of stable recovery. Instead, it has stepped into a new stage of the new normal of Chinas economy in the superposition of internal “tough war” and external “trade war”. The pressure of sustained economic downturn in 2018 is difficult to be effectively alleviated with the shortterm policyIt is necessary to use a new round of comprehensive reforms and openingup and a new round of supplyside structural reforms to resolve it and hedge it. The exposure of internal and external pressures and problems has determined that the window of Chinas major reforms has fully emerged since 2018. In 2019, China will surely embark on a new journey of reform and opening up.

 new era of reform and opening up , chinas macroeconomy , high quality development , world structural fission period