China targets quality, efficient growth in 2013 (2)

Due to flagging exports and domestic efforts to contain runaway property prices, China's annual economic growth slipped to 7.4 percent in the third quarter this year, slowing for seven quarters in a row.

To boost quality growth, the statement said expanding domestic demand will be a strategic basis for China's development next year.

New growth points should be created in domestic consumption, which will serve as both a strong pulling power and foundation for the economy's sustained and healthy development, it said.

The country has been trying to restructure national economy to wean off its reliance on exports for growth, as its main trade partners like the European Union and the United States are embroiled in debt crisis.

The meeting especially attached significant importance to urbanization, which has been considered as a main driver for domestic demand and will be actively and steadily pushed forward in 2013, said the statement.

The country will center its efforts on improving the quality of urbanization, incorporating the concept of ecological civilization in the urbanization process to build intelligent, green and low-carbon cities, it said.

"Advancing urbanization will boost both investment and consumption, which plays a significant role in promoting China's sustained and steady growth," said Lian Ping, chief economist at the Bank of Communication.

The country's urban population, which outnumbered that of rural areas for the first time at the end of last year, is expected to account for 70 percent of the total population by 2030, according to a World Bank forecast.