Highlights of China's Central Economic Work Conference(2)

WORLD ECONOMY

-- World economic growth will probably pick up slightly in 2015, but the recovery will remain weak.

-- After the global financial crisis, the world saw drastic fluctuations in financial markets and the price of bulk commodities, as well as more influence of non-economic factors like geopolitics.

-- China must weigh the favorable and adverse factors and make the right decisions, follow the trend and and prevent various risks.

NEW TASKS

-- China should stick to the keynote of seeking progress while maintaining stability and focus on boosting economic growth quality and efficiency.

-- China will proactively adapt to the economic "new normal," keep economic operation within a reasonable range and put economic development model transformation and restructuring even higher on the agenda.

-- Continuity and stability are key to macroeconomic policies.

-- The proactive fiscal policy should be stronger and the prudent monetary policy should be more focused on striking a proper balance between being tight and loose.

-- China will strive to keep economic growth and policies steady in 2015.

-- China should develop new growth points, as the country is full of new growth points and enormous potentials.

-- Transformation of the agricultural sector should be accelerated. Good solution to issues concerning the agricultural sector, countryside and farmers are among the top tasks of the Party.

-- Regional integration and development policies should be improved for the country's west, northeast, central and eastern parts.

-- China will continue improving people's livelihood with necessary and timely support, especially for those with low incomes.

REFORM AND OPENING UP

-- Reform will be sped up in administrative approval, investment, pricing, monopolies, franchising, government purchased services, and outbound investment.

-- The evaluation system for reform and general public access the reform work will be improved.

-- The problems of state-owned enterprises will be addressed and efforts will be made to improve their efficiency and core competitiveness.

-- The leaders decided to expand market access in the service sector, further open up the manufacturing sector, and popularize experiences of the China (Shanghai) Pilot Free Trade Zone (FTZ).

-- Efficiency and quality of outbound investment will be improved, sectors with a competitive edge will be encouraged to go overseas, and the internationalization of the yuan will be boosted in steadily.