China's top economists meet the press Thursday morning on the sidelines of the First Session of the 12th CPPCC National Committee.

The First Session of the National Committee of the 12th Chinese People's Political Consultative Conference (CPPCC) held a press conference Thursday morning in Beijing.

The country's top economists, including Li Yining, honorary dean of Guanghua School of Management of Peking University, Lin Yifu, honorary dean of National School of Development of Peking University, Chen Xiwen, deputy director of Central Rural Work Leading Group, Li Yizhong, former minister of Industry and Information Technology, Du Ying, vice chairman of National Development and Reform Commission and Jia Zhibang, former administrator of State Forestry Administration and vice chairman of National Afforestation Committee, answered questions from journalists on advancing scientific development.

Here are the highlights of the press conference:

• China can avoid middle income trap through reform
China can escape the middle income trap through industrial restructuring and income distribution reform.

• Financial risk biggest challenge for China
Financial risk will remain the biggest challenge for the Chinese economy as over-reliance on investment to power the economy amid urbanization drive would increase debt burden for local governments.

• China vigilant against quantitative easing in developed economies
China's political advisors expressed concerns about the impact of quantitative easing policies in developed countries, urging the nation to speed up industrial restructuring to tackle related challenges.

• China to continue GM soybean imports
China will continue to import genetically-modified (GM) soybeans in order to cater to domestic demand.

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