CRI听力：China's economic meeting to target 8 percent economic growth for 2009

China's central government plans to keep economic growth above 8 percent next year, higher than the World Bank's forecast of 7.5 percent.

Starting on Monday, China's top economic policy-makers will convene their annual central economic work conference, where they are expected to discuss the implementation of the government's recently adopted fiscal stimulus and monetary policy. Our reporter Xyee has talked to some economic and finance experts about what will happen.

Report: Amid the grim outlook for the world economy, China's top priority for next year is to maintain steady and relatively fast economic growth. That will be the theme of this year's central economic work conference and will set the tone for the country's macroeconomic policies for 2009.

Economists from domestic universities and research institutes say that the government's 8 percent growth rate is an accessible target.

Economist Hua Sheng is one of them.

"An 8 percent growth rate is a moderate and relatively stable target. You see, China's GDP growth moderated to 9 percent in the third quarter, down from 10.4 percent in the first half and 11.9 percent last year. To achieve 8 percent for 2009 will not cause a big fluctuation."

Some other economists are more optimistic and expect China's economic growth to reach 10 percent next year because of the country's huge potential for domestic consumption and investment.

But under the backdrop of the global economic downturn, experts suggest that China's policy-makers should have a thorough understanding about the domestic and international environment before they agree on specific plans.

Tan Yaling is an expert at China National Association for International Studies.

"Within the current world economic structure, which is complicated and unique, China may be confronted with more difficulties for its macroeconomic control. China's economic policy-makers should have a clear understanding of the country's own situation and the outside environment, so that they can work out appropriate economic development schedules."

To spur growth, the government has unveiled a massive 4-trillion-yuan, or nearly 600 billion U.S. dollar, stimulus package and slashed interest rates last month by the most since 1997.

Experts say these measures and others, such as increasing investment and encouraging domestic consumption, will help maintain the 8 percent target.

Hua Sheng again: (wwW.hxen.net)

"One thing quite important is how to make the best of the investment. For instance, how to attract massive private investment by the limited amount of government investment. And we should also transform the traditional high-cost and high-energy-consumption pattern for economic growth."

The annual central economic work conference will be held from Monday to Wednesday in Beijing.

Xyee, CRI News.