China strives for economic soft landing next year amid global financial crisis

BEIJING, Dec. 11 (Xinhua) -- After five years of double-digit economic growth, China on Wednesday set the tune of carrying out a "soft landing" to begin a new growth cycle, as Chinese policy makers gathered at the Central Economic Work Conference to tackle mounting difficulties in sustaining growth amid global financial tsunami.

The central authorities pledged to strive for continued economic growth next year through domestic demand expansion and economic restructuring.

"Although the work meeting did not give a specific growth target for next year, the leadership made clear its resolution to sustain the growth at a relative fast rate and reiterated the macro-control policies to secure the goal," said Zhuang Jian, senior economist with the Asian Development Bank (ADB).

He said China's economy may need two and three years for adjustment after the fast growth cycle. He believed the economy could achieve an 8 percent growth rate next year.

read more

HOW TO SURVIVE THE DEPRESSION