Conference a milestone in strategic transition

This year's Central Economic Work Conference is a milestone in the history of China's economic development. The annual conference, which is aimed at mapping out plans for next year's economic development, was convened this time in the midst of a global financial crisis and also when China marks the 30th anniversary of its adoption of the reform and opening-up policy in 1978.

The significance of the three-day gathering, concluded on Wednesday, thus goes beyond the economic domain.

It was agreed at the conference the country should increase the contribution of domestic market to the economy and gradually reduce its dependence on foreign trade, the first time that such a stance was put forward by the central authorities.