Highlights of China's Central Economic Work Conference

BEIJING - China's leaders and senior officials concluded the three-day Central Economic Work Conference Thursday, a crucial meeting aiming to set the tone for economic policies in 2015.

The government will strive to keep economic growth and policies steady and adapt to the "new normal" of slower speed but higher quality.

The following are highlights of the statement issued after the meeting:

Reviewing 2014

-- China can deliver its social and economic goals for 2014 "relatively well."

-- The economy will stay within a reasonable range, with positive changes emerging in the economic restructuring.

-- The economy still faces many difficulties and challenges, with "relatively big" downward pressures.

New normal

-- We must understand the new normal, adjust to the new normal, and develop under the new normal.

-- Coming to terms with the new normal will be the "main logic" for economic growth for some time.

-- Chinese economy has entered the new normal, featuring a shift from high speed growth to a medium-to-high one.

-- The focus of economic growth will be shifting from quantity and speed to quality and efficiency.

-- Economic momentum is increasingly driven by new engines rather than old ones.

-- The new normal has not changed the strategic importance of a period that will see great achievements, nor the fundamentals of the Chinese economy.

World economy

-- World economic growth will probably pick up slightly in 2015, but the recovery will remain weak.

-- After the global financial crisis, the world saw drastic fluctuations in financial markets and the price of bulk commodities, as well as more influence of non-economic factors like geopolitics.

-- China must weigh the favorable and adverse factors and make the right decisions, follow the trend and and prevent various risks.

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