At the inaugural SMU China Forum, Deputy Prime Minister Tharman Shanmugaratnam said that China’s economic growth may be slowing as it tackles some short-term challenges but there remains much potential there. He added that while the process of reform will be risky, China has tremendous growth prospects that can benefit the rest of Asia. However, the nature of the reforms required to move the country beyond middle-income status are much deeper and more far-reaching than those required to escape poverty, and there are still risks involved in China's outlook, said Mr Tharman.