The Context Of The Financial Crisis, Chinese Economic Growth Mode Transformation Research

A massive financial crisis swept the globe in 2007. Crisis caused tremendous trauma on the developed economies,and also had a significant negative impact on the developing countries. The crisis made the global economy downturn, increased unemployment, and the economy entered the downstream channel, international trade was severely affected. Facing the financial crisis, the stability of Chinese financial system has being tested. At the same time, the Chinese economy exposed some problems.The impact of the financial crisis to China includes direct financial market, import and export trade, real estate, foreign investment and so on, all of which expose that economic growth can not be sustained if only depend on China's long-standing foreign investment and financial investment. Also, China's labor-intensive industries which rely on labor advantage show its own vulnerability under the influence of the financial crisis. Transform the pattern of China's economic growth is extremely urgent.This paper argues that the effective methods of transforming the pattern of China's economic growth includes improving the quality of workers; reducing the investment-led economic growth, turning to stimulate domestic demand and increasing consumption, and thus the economic growth is real and sustained. In addition, China should increase the devotion to scientific research, encourage independent innovation, promote core technology of Chinese corporations, in order to transform the unfavorable situation of "World Factory", and therefore lead the promoting of industrial upgrade and transformation of China's economic growth.