Based on a thorough review of the international and domestic situation and a summary of this year's economic work, the three-day conference, convened by the Central Committee of the Communist Party of China (CPC) set forth guidelines and plans for economic work in the year 2001, the editorial says.

The editorial hails the country's major achievements in 2000, including its adherence to the guidelines of increasing domestic demand, implementation of a proactive fiscal policy and a moderate monetary policy, maintenance of a relatively fast growth rate of the national economy, steady advancement of economic restructuring, realization of further opening-up to the rest of the world and a major turn in national economic development.

The achievements demonstrate the outstanding abilities and skills of the CPC Central Committee with President Jiang Zemin at the core, in controlling the economy under complicated domestic and international situations, and that a series of major decisions, guidelines and policies adopted by the central leadership are correct, the editorial emphasizes.

In 2001, China should continue to increase domestic demand, carry forward the proactive financial policy and the moderate monetary policy, and try to consolidate and develop sound economic growth by utilizing various kinds of macro-control measures, it notes.

It says that the country should realize further industrialization by developing the information industry; give greater boost to agriculture so as to increase the income of farmers; and consolidate and expand the reform of State-owned enterprise by restructuring managerial systems and strengthening management.

Meanwhile, the country should complete its preparations in all fields for the entry into the World Trade Organization (WTO), in a bid to achieve a higher level of opening-up and to build an export-oriented economy, the editorial says.

It urges to increase channels for employment, accelerate the pace of building and improving the country's social security system and further enhance living standards.

It also calls for properly handling the relationship between reform and stability, so as to boost sustained, fast and healthy development of the national economy and the overall progress of society.

The fulfillment of the tasks spelt out at the conference must rely on the people, as the socialist cause with Chinese characteristics is a cause of the people, the editorial stresses. The people are the creator of the cause and its beneficiary as well, it says.

To arouse people's enthusiasm, initiative and creativity would ensure the success of the reform and development as well as the bloom of socialism's vitality, according to the editorial.

"Market economy is a great school," the editorial says, urging leading officials at all levels to be proficient in studying the new situation and problems, on the eve of the country's forthcoming WTO entry.

(People's Daily 12/01/2000)