Economic growth on target this year, more stabilization needed

China is on the track to meet its annual economic growth target of 6.5 percent this year, but more efforts are needed to stabilize the economy to ward off a slump in the next year, according to senior officials.

"The economy is set to meet the growth target as the economic structure has been improving thanks to efforts to implement supply-side reforms," said Ning Jizhe, deputy head of the National Development and Reform Commission, during a forum held over the weekend. "The government needs to make more effort to shore up growth as downward pressure persists on both external and domestic fronts."

To cushion downward risks, the policy emphasis in the next year is expected to strengthen earlier policy support, such as in efforts to boost private investment and facilitate development of the manufacturing sector, according to Ning.

Ning made the comment after China's Central Economic Work Conference closed on Friday.

China aimed to achieve 6.5 percent year on year growth this year.

China's GDP growth reached 6.7 percent year-on-year in the first three quarters of this year, according to official data released on Friday.

Growth in the third quarter was 6.5 percent, down from 6.8 percent in the first quarter and 6.7 percent in the second quarter, according to the National Bureau of Statistics.

Recent data of some key economic indicators, such as retail sales and industrial output growth, show some cooling signs that may indicate a difficult start for the next year.