China targets quality, efficient growth in 2013

While seeking growth impetus from consumption, China will also look to boosting investment. The statement said the country will encourage both private and public investment on infrastructure projects that will not cause repetitive construction to set foundations for long-term growth.

China has earlier this year opened a number of state-run sectors such as transport and finance to private investors in a bid to increase the economy's efficiency.

Aware of industry overcapacity, the statement called for industrial restructuring through means like innovations and branding to maintain high-quality development.

The statement said the country will stabilize and increase its share of world markets while boosting imports to support the country's economic restructuring and make its international payment more balanced.

Official data showed exports slowed more than expected in November. In the first 11 months, foreign trade grew 5.8 percent year on year, well below the government target of 10 percent for this year.

The meeting has also agreed that China will "properly expand the amount of social financing to maintain a moderate increase in loan issuances" and keep the yuan's exchange rate "basically stable" next year, according to the statement.

While vowing to fully deepen economic reforms and opening-up, the meeting called for "greater political courage and wisdom" to carry out reforms.

In-depth research and studies should be done to improve the top-level design and general plan for the reforms, and a clear overall scheme, road map and timetable should be made, the statement said.

Most economists have been putting their forecasts for China's 2012 growth under 8 percent but slightly above the 7.5-percent government target set in March.

Latest figures showed that the country's industrial output has continued to pick up, and retail sales and fixed-asset investment have maintained strong growth.

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