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Foreign experts impressed by China's "great reform"


08:48, December 18, 2012

BEIJING, Dec. 17 (Xinhua) -- China's Central Economic Work Conference, which concluded here Sunday and set the tone for the country's economic policymaking next year, has attracted high attention from economists and experts around the world.

"The Chinese government is carrying out a great reform," said Mariano Turzi, a professor of international economics at Torcuato De Tella University in Buenos Aires, referring to the conference's call for in-depth research and studies to improve the top-level design and general planning for China's reforms.

The conference also pledged to put forward a clear overall scheme, road map and timetable for the country's reforms, according to a statement issued after the two-day meeting.

The Chinese government's courageous efforts to shift the economic growth mode, said Turzi, will lay a solid foundation for China's development during the next 50 years.

As for the conference's decision to expand domestic demand and make it the strategic basis for China's development, Turzi said such a decision reflects Chinese leaders' objective assessment of external risks and is in line with the reality that China has a fast-expanding middle class.

Nicholas R. Lardy, a senior fellow at the Peterson Institute for International Economics, said he believes that the primary task of China's reforms in the next five years is to change the country's economic growth model from an investment-driven style to one driven by consumption.

It is not only a challenge, but also a huge opportunity for China's economy, Lardy told Xinhua.

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