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Xi convenes key CPC meet to discuss economic reforms in China

Last Updated: Tuesday, August 27, 2013 - 21:05

Beijing: Chinese President Xi Jinping on Tuesday convened a key meeting of the ruling Communist Party to discuss major issues like plans to deepen reforms to halt the slide of the world's second-largest economy and to step up the campaign against high-level corruption.

The third Plenary Session of the 18th Communist Party of China (CPC) Central Committee will be held in November in Beijing, the Politburo of the CPC presided by Xi, also head of the party, decided here today, a statement said.

The major agenda of the session will include delivery of a report by the Politburo to the CPC Central Committee, and the study of major issues concerning comprehensive and deepened reforms, said the statement, according to state-run Xinhua news agency.

It will be the first party meeting after the high-profile corruption trial of disgraced top Communist Party leader Bo Xilai, which concluded yesterday.

The trial verdict is expected to be announced shortly.

Bo was also a member of the previous Politburo before his arrest for bribery,?embezzlement?and abuse of power last year.

The meeting also approved a document concerning functional transformation and institutional reform of local governments.

The party plans to come out with further economic reforms as the?economy has slowed down considerably but officials say this year's target of 7.5 percent growth is achievable.

"China has shown clear signs of stabilising and the country is on track to meet its annual growth target of 7.5 percent," National Bureau of Statics spokesman Sheng Laiyun said.

China's economic growth eased to 7.5 percent in the second quarter, down from 7.7 percent in the first three months of the year.

Instead of initiating a massive stimulus programme to lift the economy, the authorities are moving cautiously, including speeding up shantytown renovation, accelerating railways and infrastructure investments and reducing taxes for small businesses, to steady growth while driving through reforms for long-term benefits, Sheng said.


First Published: Tuesday, August 27, 2013 - 21:05
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