Foundation for growth

The tangible gains that China made in pursuing its long-term goals last year do not detract from the huge challenges the country faces in 2009. Yet, by laying a solid foundation for sustainable growth in future, such progress will significantly boost Chinese people's confidence to overcome the current economic difficulties.

Statistics show that China's gross domestic product grew by 9 percent in 2008 with quarterly growth slowing to 6.8 percent in the final three months.

The annual GDP figure marked an end to a five-year streak of double-digit growth for the Chinese economy. Worse, the latest quarterly growth data confirmed a rapid slowdown as the global financial crisis and economic recession hit the country hard.