Consumers hold the key to growth (3)

The government's macroeconomic policy is expected to generally remain stable over the next year, Cao said. "The fiscal measure is better to be more proactive while the monetary policy can be slightly eased," he said.

"There is nearly no room for future lowering of commercial bank interest rates in 2013. Total lending is likely to be 8.5 trillion yuan ($1.36 trillion), with a 14 percent growth of the broad money supply," Cao said.

The central bank may cut the reserve requirement ratio one or two times next year, based on the changing situation of its counterparts in foreign exchange reserves, Cao said.