China opens key economic policy meeting

Delegates attend the Central Economic Work Conference in Beijing, capital of China, Dec 5, 2009. [Xinhua]

China's decision makers gathered in Beijing Saturday to determine economic policies for 2010, aiming to better deal with the impact of the international financial crisis and consolidate the foundation for economic recovery.

The Central Economic Work Conference, an annual event initiated more than a decade ago, started days after China said it would continue the proactive fiscal policy and moderately easy monetary policy next year.

Analysts with the Development Research Center of the State Council, a government think tank, said coping with further impact of the international financial crisis would remain a major task for China in 2010.

To continue the fiscal and monetary policies and implement and enrich the economic stimulus package would help China achieve full economic recovery, the analysts said.

They expected more efforts to transform the mode of development and in economic restructuring next year.

Meanwhile, they believed the government would further deepen reform and opening up, push forward innovation, and improve people's livelihood.

However, they cautioned China should still prepare for a bumpy ride next year as the road of global economic recovery would be "long and winding."

Increase in the country's exports would still be difficult with a grim forecast of overseas demand, and domestic consumption should be further boosted to drive economic growth, they said.

It is also expected decision makers at the conference would address issues such as tackling overcapacity in some industries and promoting the development of some strategic emerging industries.

Despite the global downturn, China had outperformed other major economies in 2009. Gross domestic product (GDP) had grown by 8.9 percent year-on-year in the third quarter, and the economic growth for the year is expected to exceed 8 percent.