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China targets quality, efficient growth in 2013 (4)

(Xinhua)

11:07, December 17, 2012

The statement said the country will stabilize and increase its share of world markets while boosting imports to support the country's economic restructuring and make its international payment more balanced.

Official data showed exports slowed more than expected in November. In the first 11 months, foreign trade grew 5.8 percent year on year, well below the government target of 10 percent for this year.

The meeting has also agreed that China will "properly expand the amount of social financing to maintain a moderate increase in loan issuances" and keep the yuan's exchange rate "basically stable" next year, according to the statement.

While vowing to fully deepen economic reforms and opening-up, the meeting called for "greater political courage and wisdom" to carry out reforms.

In-depth research and studies should be done to improve the top-level design and general plan for the reforms, and a clear overall scheme, road map and timetable should be made, the statement said.

Most economists have been putting their forecasts for China's 2012 growth under 8 percent but slightly above the 7.5-percent government target set in March.

Latest figures showed that the country's industrial output has continued to pick up, and retail sales and fixed-asset investment have maintained strong growth.


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