Boost domestic spending

The strong rebound of the Chinese economy as well as the ongoing recovery of the world economy from the worst global recession in many decades will certainly allow much more breathing room than a year ago for Chinese policymakers at the upcoming Central Economic Work Conference.

With economic growth having accelerated from 6.1 percent in the first quarter of this year - the slowest in almost a decade - to 7.9 percent in the second quarter and 8.9 percent in the third, China has ostensibly put itself back on the track of fast growth it has enjoyed over the past three decades.

The Chinese leaders' determination and efficiency in steering the world's third-largest economy through the global crisis is remarkable, not least in terms of shoring up the speed of economic growth.