— World Media Reacts to China's Central Economic Work Conference (II)

The Central Economic Work Conference (CEWC), held in Beijing on December 15-16, 2012, outlined the overall objectives for China's economic development in 2013 based on an analysis of domestic and international economic conditions, and international observers closely followed.

Chinese economy: An important factor for world economic stability and development

Currently, the Chinese economy is essential for world economic stability and development, said a Polish professor and director of the Asia-Pacific Center of the Institute of Political Affairs, Polish Academy of Sciences. The meeting is worth the attention of European and other countries because it is perhaps the most important economic work conference in the world, and the first of its kind held after the new CPC Central Committee leadership was held in November. Facing a current sluggish economic recovery in major economies such as Europe, the United States and Japan, China will, as a primary objective, attempt to stabilize its economic growth, he said.

China's reform and opening is responsible for the country's massive economic growth over the past 30 or so years, said a Spanish expert on Chinese studies, while being interviewed by People's Daily. He pointed out that promoting reform and maintaining stability are not mutually exclusive, as illustrated in China's recent history.

Gu Qingyang, Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore, said that CEWC's focus on long-term quality economic growth would help the country move up the innovation chain and expand domestic demand. If China pays more attention to the quality of its growth the global economic would stand to benefit.

Baber Makhdoom, Editor-in-Chief of Daily Mail newspaper based in Islamabad, Pakistan, said China's development is an example for many countries to follow. The new growth point of the Chinese economy lies in its upgrading of product quality and its industrial structure, he added.

The CEWC was focused on steady reform and establishing principles and policies for China's future economic development, said Xiong Delong, chairman of the board of directors of the International Daily News of Indonesia. A stable and healthy development of the Chinese economy will surely drive the world's economic recovery and development. Meanwhile, sustainable development of the Chinese economy is conducive to social stability.

Over the past decade, China has become an increasingly important trading partner for the countries belonging to the Association of Southeast Asian Nations, or ASEAN, with bilateral trade up at an average annual rate of more than 20 percent. Growing Chinese domestic demand will have a positive impact on ASEAN countries, said Nariman Behravesh, Chief Economist of Global Insight.

A firm determination to deepen economic reform

Spain's La Agencia EFE reported that the CEWC outlined a road map for China's annual economic development. According to a news release from the CEWC on December 16, 2012, China will stress its economic reform and opening up in 2013. The Chinese Government will work to maintain the country's economic stability and continuously propel domestic demand.

The CEWC is of special significance this year because 2013 is the first year for China to implement the policies that arose from the 18th CPC National Congress, wrote the Vietnam News Agency website on December 16, 2012.

The Associated Press reported that the whole world is closely paying attention to the CEWC to get a sense of this year's economic policies under a new CPC leadership.

Reuters reported that China would maintain stability in its economic policies in 2013, with the aim of supporting lasting growth.

The Yonhap News Agency reported that the CEWC put forward plans to "comprehensively deepen economic structural reform and firmly expand opening up," while driving "the next stage of reform with greater political courage and wisdom."

BBC Chinese website noted that the CEWC is regarded as a platform for China's top officials to assess economic conditions both at home and globally.

A growth rebound

The French Tribune website reported that the CEWC is an essential meeting to outline China's economic objectives for 2013. Various economic indices indicate that China's economy is rising, it added.

India Economic Times wrote that Chinese leaders must remain sober as they continue to steer the world's second largest economy despite positive economic data showing a rebound in China's economic growth.

The Australian pointed out that at the closing of the CEWC China promised to continue a proactive fiscal policy and prudent monetary policy, adding that China's economic growth would remain at more than 7.5 percent in the near term.

The CEWC outlined plans for China to ensure stable economic growth, said Russia's Independence newspaper.