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Urbanization is the main engine to boost domestic demand

The Central Economic Conference, which sets the economic tone for the coming year, is expected to be held on December 15-16.

New yuan deposits in the month were 473.9 billion yuan, up 151 billion year-on-year

Growth in exports declined to 2.9 percent over a year earlier from the previous month's 11.6 percent

The reading was consistent with the official PMI, which printed at a seven-month high of 50.6 in November, versus 50.2 in October

The country's gross domestic product is set to grow 7.7 percent in 2012, the minister said

China is facing an imminent demand to "re-launch reforms" at a time when China's economic growth is losing momentum

Howard said the two countries should focus more on common grounds rather than differences despite that China's system is different from that of Australia’s.

The Obama administration has decided not to label China as a "currency manipulator" Tuesday but it noted that China's currency, the yuan, remains "significantly undervalued" and urged China to make further progress.

Major industrial enterprises posted a total profit of 4.024 trillion yuan ($640.2 billion) in the first ten months of this year,up 0.5 percent year-on-year

China will maintain a relatively stable growth in 2013 but it still needs to be alert on short-term risks in the economy

"However, it is still the early stage for recovery and global economic growth remains fragile. This calls for a continuation of policy easing to strengthen the recovery."

Given recent high volatility in property activities and consumer expectations, "the strength and sustainability of the economy's acceleration remains questionable."

China held $1.1555 trillion worth of U.S. Treasuries ending September, a number that has remained unchanged since December 2011.

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