A worker rides past a poster showing Beijing's central business district outside a construction site in Beijing
A worker rides past a poster showing Beijing's central business district outside a construction site in Beijing, December 29, 2014. Growth in China's gross domestic product (GDP) is expected to slow to 7 percent next year from a forecast 7.3 percent this year, partly due to weakness in global economies, a top Chinese government think-tank said in a report published on Monday. REUTERS/Jason Lee Reuters/Jason Lee

China may have to reorient its GDP growth strategy towards a consumption based economy and move away from export led growth in 2015. The country is one of the largest importers of oil and the current low prices of the commodity may help its economy.

According to a report by Bloomberg, China may emerge as one of the biggest gainers with the current low oil prices. The low price of the commodity will reportedly keep inflation low and spur economic activity. But the country may have to change its policy of relying heavily on exports for its growth.

According to the report, the biggest opportunity in China will be in the form of domestic demand for foreign goods. The country has for a long time relied on producing goods to meet the demand of the world, but 2015 may see a role reversal with China driving the global demand for goods.

There have been some concerns about a possible recession in 2015 in the region. Two major countries in China's neighbourhood with concerns about recession are Russia and Japan. Some of the countries in Europe are also considering a stimulus package in order to prevent a recession.

But China may not need such a stimulus package in 2015. The low oil prices will reportedly act as sufficient stimulus to strengthen the GDP growth in the country. China could also reportedly look at other structural reforms, like privatisation and reducing red tape, to support growth.

China is already taking measures in some sectors of the economy to ensure sustained growth. According to a report by Reuters the Beijing Housing Provident Fund Management Centre, a government agency that provides housing loans, has increased the limit on loans taken on property. The move has reportedly led to the Chinese stock market rising on the back of real estate stocks.

Analysts are also reportedly looking at some of the other sectors where a Chinese government's intervention would promote growth in 2015. This includes energy pricing reforms and improved welfare for its citizens. With the OPEC countries refusing to cut production, a sustained low oil price may help China to achieve some of its economic goals.

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