国际英语资讯:China well prepared to manage difficult balancing act_时事

国际英语资讯:China well prepared to manage difficult balancing act

BEIJING, Dec. 16 (Xinhua) -- The just-concluded annual tone-setting meeting mapped out economic work priorities for the coming year, and all details add to one message: China is facing a difficult balancing act and is set to keep up the good work.

Stability and reform are the two key words of the thousands-word statement released after the Central Economic Work Conference, which put "seeking progress while maintaining stability" at the core theme.

It's no easy task as Chinese economy has come to a critical period of transition. The world's second largest economy has to ease debt burdens, address financial risks and cut excess capacity while maintaining a stable growth to achieve its growth target in 2020.

国际英语资讯:China well prepared to manage difficult balancing act1

China has already managed to stage an impressive performance in 2016 amid rising global uncertainties and domestic downward economic pressure and looming financial risks.

The government has charted development plans for the next five years and pushed ahead with the supply-side structural reforms to rebalance economic growth. China has met its capacity cut targets this year while securing a stable growth around 6.5 percent.

China is facing more challenging external and domestic environments in 2017 with rising protectionism around the world and financial risks both abroad and at home. What the government has to do is to keep up the good work and walk a fine line.

China has the policy tools and strategy to implement the difficult balancing act, that is, a stable macro policy stance with proactive fiscal policies and prudent monetary policies; a precise industrial policy stance aiming at improving supply quality; a flexible micro policy stance to revitalize the private sector.