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Xinhua: Commentary on China’s Future Development

Xinhua published a commentary about the outlook for China’s future. Though the article was written with many glorious words, it stated, "The next five to ten years is not only a critical period for our country in terms of constructing a wealthy society; it is also a tough period in terms of overcoming escalating problems and increasing difficulties. Under the new situation, short term and long term problems in economic development intertwine, structural and systemic problems coexist, and internal and international problems interact, making it urgent to transform the economic development model and hard to improve people’s living standards and maintain social stability.”

The article mentioned several economic development directions: adopting a proactive fiscal policy and a stable monetary policy, expediting the realignment of the nation’s economic structure, stabilizing food prices (as a significant goal), improving economic development’s sustainability and the capacity of self-stimulus (ed: instead of relying on outside, or government stimuli), and increasing the quality and efficiency of economic development.

Source: Xinhua, January 2, 2011