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China to keep economic growth steady in 2015

CCTV.com

12-11-2014 19:54 BJT

Full coverage: 2014 Central Economic Work Conference

China has wrapped up its annual Central Economic Work Conference, vowing to continue to transform its economic development mode and adjust its economic structure.

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, speaks at the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from Dec. 9 to 11, 2014. (Xinhua/Ju Peng)

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, speaks at the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from Dec. 9 to 11, 2014. (Xinhua/Ju Peng)

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, speaks at the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from Dec. 9 to 11, 2014. (Xinhua/Pang Xinglei)

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, speaks at the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from Dec. 9 to 11, 2014. (Xinhua/Pang Xinglei)

The conference, which started Tuesday, acknowledged the changes and trends in China's economic development, such as consumption, investment, exports, production capability, structure and environmental restraints, which have been termed "the new norms."

The conference said China's economy will change from high-speed development to medium to high speed development. It added that China must understand and adjust to these new norms, and further its economic development based on its conditions.

Coming to terms with the new norms will be the "main logic" for China's current and future economic growth. In this situation, China says it will give more emphasis to development quality and deepening reform, as well as encouraging innovation-driven development, stepping up macro controls and improving people's livelihoods.

In order to stabilize the economy, the conference also called for transforming government functions, consolidating agricultural foundation, balancing regional development, fostering new growth points and the market's role in resource allocation.

The conference also said China could achieve its social and economic goals for 2014 relatively well and continue to hold the economy within a reasonable range. China will strive to keep its economic growth steady in 2015, sticking to a proactive fiscal policy and prudent monetary policy.

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