CRI听力:More Challenges than Opportunities ahead in 2012 for China

Although China has set its GDP growth target at 7.5 percent this year, down from 8 percent in 2011, He Jun, a senior research fellow with the Beijing-based Anbound Consulting Firm remains optimistic about the future of the Chinese economy.

"China's gross domestic product hit 47.2 trillion yuan in 2011, and if such a big piece of "cake" continues to move forward at a rate of 7 to 8 percent, the progress would still enable China to stand out as a leader within the world economy."

However, He Jun also believes that the economic data indicates that the Chinese economy is likely to encounter a greater number of challenges in 2012.

"There will be more challenges than opportunities for China in 2012. As the country's economic growth slows down, relevant authorities should make adjustments in order to stimulate domestic demand, including the creation of a new stimulus package. In doing so, the domestic market would become the true driving force for the growth of the national economy."

NPC deputy, Kong Qing, believes that in the face of global economic turbulence and with a lack of consumer demand within the domestic market, state-run businesses such as the Shandong Energy Group Corporation Limited, where he works as Deputy General Manager, should explore opportunities overseas in a bid to help drive the domestic economy forward.

"Besides the economic downturn worldwide, our domestic economy is not strong enough, so our country encounters difficulties when it comes to creating economic growth. In this sluggish atmosphere, I think the best approach that a large state-owned enterprise can pursue is to develop itself and enter foreign markets."

Meanwhile, Yu Xiaoyu, another NPC deputy from east China's Shandong Province and chairwoman of the board at Shandong Zhong Rui Investment Management Corporation Limited, thinks the present picture also poses a big challenge for investors.

"In light of the possible rise in labor costs this year, those who intend to invest in factory or processing businesses will hesitate and consider more than ever whether they should begin or continue their investment in fear of a decrease in returns. Investors of small ventures might be particularly cautious during this period."

In reality, analysts noted that it is common for the Chinese authorities to give a conservative forecast on the growth rate of its economy at the beginning of the year; there is every chance that the final growth rate might surpass earlier targets. Regardless of whether China will face a greater number of challenges in 2012 or not, the country and the government always exhibit the strength and determination to tackle such problems.

For CRI, I'm Xu Fei.