The economy has long been a prime focus of attention during the all-important annual sessions of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference.

What challenges will China face as its economy recovers this year? What are the new growth drivers for its economy? What benefits will the world gain from China's economic recovery? And how will China be affected by factors like the interest rate hike by the Fed and exchange rate and what would its monetary policy look like?

To find out the answers, China Daily reporter Ian Goodrum talked with Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.