Seeking stability does not mean backtrack on reforms, as a commentary to be released on the People's Daily Saturday points out. The central leadership are well aware of the problems dragging down the country's growth and are determined to address them.

The key to resolving structural imbalance lies in pushing supply-side reform, the meeting agreed, specifying five major tasks: cutting industrial capacity, destocking, de-leveraging, lowering corporate costs and improving weak links.

The reform priorities also emphasize balancing stability and growth. On one hand, more efforts will be taken to improve the competitiveness of the country's agricultural sector, state-owned enterprises and the real economy, hopeful new drivers of growth; on the other hand, the country will explore a market-oriented, long-term property mechanism to avoid financial bubble burst.

The challenges ahead and the tasks set are by no means small, but confidence, determination and wise actions will see China through.

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