"Qiushi", or Seeking Truth, a leading ideological magazine sponsored by the Communist Party of China (CPC) Central Committee, says the current international and domestic situation is generally favorable for China's ongoing reform, opening-up and modernization drive.

In its 23rd issue of the year, to be published on December 1, the biweekly carries a commentary titled "Be Aware of the Situation and Tasks", which contains a general assessment of China 's current international and domestic circumstances.

As the tendency toward multipolarization continues in the world, the international situation has generally started to relax, while peace and development have remained the main themes of the era, the commentary says. It notes that a new world war could be avoided for many years to come, even though factors for unrest still exist globally.

The world is experiencing economic restructuring and rapid progress in science and technology, and a greater role is being played by transnational companies. Also, economic globalization continues to have a profound impact on different nations, the s, should make full use of the favorable international circumstances, take hold of the opportunities and stick to the principle of making economic development its focal point. China should engage in the modernization drive wholeheartedly to strengthen the country's own economic power, national defense capabilities and national cohesive force.

Meanwhile, China's domestic economic and political situation is also good. The Chinese government has adopted a series of measures to expand domestic demands and try to readjust and control economic operation through economic means, it says.

Thanks to the measures, this year China has achieved a good agricultural harvest, a relatively high growth in industrial production, an improving foreign trade that has halted its downward trends in the early months of the year, a constant improvement in the people's living standards, and social stability.

The economic goals China set in the beginning of this year are expected to materialize, it says.

However, there still exist certain prominent problems and contradictions in China's economy, such as the inefficiency of effective market demands, an increasing pressure of unemployment, the slowness in the growth of farmers' income, and an irrational economic structure.

The fact that China has achieved a relatively high economic growth amid the complicated international and domestic situation shows that the ruling CPC, which managed to achieve a "soft- landing" for the country's overheated economy and inflation in the mid-1990s, is also capable of dealing with the current deflation under the new circumstances.

It shows the ruling party has been able to manage a complicated economic situation and tackle major economic issues, and meanwhile its level of macro-economic management has been fundamentally improved.