Stability is a prerequisite for reforms, commented Margit Molnar, head of the China Desk of the Economics Department of the Organization for Economic Cooperation and Development.

Having dealt with such flashpoints like the asset bubble and local government debt, China will help prevent systematic risks, creating conditions for continuing the supply-side structural reform, he told Xinhua.

The economic work conference has maintained supply-side structural reform as necessary for stable growth, with a continued focus on upgrading the country's economic structure.

Reforms which focus on expanding effective supply in a dynamic supply-demand equilibrium, will promote stability, said Zhao Yao, professor with the business school of Rutgers University in the United States.

LONG-TERM MOVES TO COOL DOWN REAL ESTATE

Homes are for living in rather than speculation, the conference stressed, proposing to use financial, land, taxation, investment and other instruments to establish a fundamental and long-term system to curb real estate bubbles and market volatilities.

Guo Shengxiang, dean of the Australian think tank Academy of APEC Creative Finance, described the idea as "forward-looking".

"It will be a good news, to stabilize the market, improve people's well-being and facilitate the development of the real economy," he said.

The Hong Kong and Shanghai Banking Corp. (HKSB) believes measures to cool down real estate will not thwart China's economic recovery.

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