Fine-tuning crucial for growth

The nation's top economic planning agency said on Wednesday that domestic economic growth will be under pressure over the next two years and macroeconomic policies must be fine-tuned to ensure long-term expansion.

In an 80-page midterm evaluation of the implementation of the 12th Five-Year Plan (2011-15), the National Development and Reform Commission said that controlling risks in local government debt is an important factor in maintaining growth for the remainder of the plan period and beyond.

"Effectively controlling overall debt risk while making sure reasonable financing needs are met has an important role in stabilizing growth," the NDRC said in the evaluation.