How "bad" is the Chinese economy?

Recently we have received much negative information about the Chinese economy, especially people start to believe the Chinese economy slowdown is accelerating. Is it true? We can still receive some positive information about the Chinese economy. The traditional industries are in their downturn, especially the mining industries. The most direct way to see this is to look at their share prices. The share prices of many traditional industrial companies dropped. However, the share prices of some more advanced companies, e.g. some auto companies, IT companies and pharmacy companies, increase over the last year. These companies have their potentials but still lack the strength to compete with their overseas competitors. To conclude, I believe that the Chinese economy will grow at a relatively slow rate but there will be a big leap of the Chinese economy in ten to fifteen years when the Chinese advanced companies are able to compete with their overseas competitors.