The Central Economic Work Conference has concluded in Beijing, with greater calls to push through reforms in the economy. The two-day conference is China's most important economic policy meeting and it sets the tone for economic priorities for 2013 and beyond.

Just a month after the new leadership of the Communist Party of China took office, the top economic policy meeting has produced a statement on the government's commitment to a deepening of market reforms.

According to the statement, the government will draw up an overall design and plan to deepen institutional reforms, and a set out a clear road map and timetable.

Dr. Kenneth Kim from School of Business in Renmin University, said, "They need to invest in domestic growth, they need to ensure future consumption, that goes back to trying to reduce income disparity, urbanization is part of that. I think this is where people can get excited about the future of China."

The conference has focused on the central task of enhancing the quality and efficiency of economic performance in 2013 and many expect the growth rate will be higher.

Professor Huo Deming from National School of Development in Peking University, said, "Actually the general consensus now is that next year is going to be much better than this year, which is likely to grow 7.7%. Next year, we are all expecting more than 8 percent."

Urbanization is seen as a key driver of future growth. The government vows to push forward the urbanization process, transforming more of the rural agricultural population into urban residents.

Expanding domestic demand will be a strategic basis for China's development. New growth points should be created in domestic consumption, which will serve as both a strong driving power and a foundation for sustained and healthy development of the country's economy.

The statement also says it will continue to boost agricultural production, and maintain control policies in the property market.

(CNTV.cn December 17, 2012)