China vows to change development pattern
The Chinese government pledged Monday to push forward the transformation of its economic development pattern next year while maintaining stable and comparatively fast economic growth.
Participants at the three-day annual Central Economic Work Conference agreed that the global financial crisis highlighted the urgency to transform China's economic development pattern.
They agreed that the government should coordinate efforts to maintain stable and comparatively fast economic growth and speed up the transformation of the economic development mode.
The Central Economic Work Conference, held once a year to set the tone for next year's economic development, comprises policy-making officials from central and provincial-level governments, including President Hu Jintao and Premier Wen Jiabao.
The conference outlined six major tasks for next year's economic work: to improve macro-regulation to ensure stable and relatively fast economic growth, advance economic structure adjustment to lift quality and efficiency of economic growth, boost rural development momentum, deepen reform and opening up to enhance momentum and vigor of economic growth, promote stable export increase, improve people's livelihood and maintain social stability.
The government would continue efforts to boost domestic demand, especially expand people's consumer demand, and make consumption contribute more to boost economic growth, according to a statement released after the conference.
The government would also seek to push recovery of exports and promote balanced international trade, it said.
More efforts would be spent to deepen economic system reform and enhance the momentum and vigor of economic growth.
The government vowed to balance the tasks of ensuring a stable and relatively fast economic growth, adjusting economic structure and managing inflation expectations next year.
This was the second time the government mentioned about managing inflationary prospects in a national event after a State Council meeting in October picked the issue as one of the key points in macro-regulation for the rest of 2009.
The country would maintain the continuity and stability of macro-economic policy and continue implementing the proactive fiscal policy and moderately easy monetary policy.