A high-profile meeting of the Communist Party of China (CPC) ended on Sunday by concluding that the overall situation of the country's economy was good and the dynamic of economic growth remained unchanged.

"The country's overall economic situation is good. The economy is growing quickly and the financial sector is operating steadily. The basic momentum of the country's economy remains unchanged," said a communique released at the close of the third Plenary Session of the 17th CPC Central Committee.

The four-day meeting focused on issues concerning rural reform and development.

The communique said all Party members should strengthen awareness of crises and face up to challenges as more uncertain and unstable factors emerged in the international economic climate amid deepening financial market turmoil and the slowdown of the world economy.

In the meantime, China's domestic economy featured some notable contradictions and problems, it said. "The most important thing is to do well in the country's own business.

"We should make flexible and careful macro-economic policies. We should step up efforts to boost domestic demand, particularly domestic consumption and keep the economy, the financial sector and the capital market stable.

"We should continue keeping social stability and pushing the country's economy towards sound and fast development," it said.

The meeting also came at a time when the outlook of the world economy became increasingly grim as a result of a serious global financial crisis.

This meeting was significant because it was the third Plenary Session of the 11th CPC Central Committee 30 years ago that pushed the country on to the road of its historic reform and opening-up drive.

(Xinhua News Agency October 12, 2008)