Media focus on top-level economic policy meeting

World media extensively covered China's latest pronounced efforts to promote its economic reforms and growth as the country wrapped up its annual central economic work conference on Sunday.

The Wall Street Journal said in a Sunday report that "China's new leaders have sent their strongest signal yet that their top economic priority is to remake the economy so it relies more on domestic demand and less on exports and investment in capital-intensive state-owned companies, even if that reduces short-term growth."

"A relatively modest number, like 7.5 percent, suggests that Beijing is willing to swallow slower growth in the short term to revamp the economy so it has a stronger foundation for growth in the coming years," it added.

The New York Times said the statement released after the meeting warned of difficulties in the global economy as well as industrial overcapacity and financial-sector risks at home.

The statement endorsed tax cuts, continued curbs on real estate speculation and a broader effort to increase domestic consumption and wean the economy from its dependence on exports and investment, said the report.

An Associated Press (AP) report published by the Washington Post said that China's new leadership pledged more market-opening reforms.

In a Sunday report, Bloomberg said the new Chinese leadership signaled tolerance of slower growth, and would seek a higher "quality and efficiency" of growth next year, signaling the new leaders may accept a reduced pace of expansion in exchange for a more sustained model.

The Nihon Keizai Shimbun, a Japanese newspaper, said in a report on Monday that the conference showed China's new leaders seek to expand domestic demand through consumption, and implement a demand-driven growth pattern.

Japan's Kyodo news agency reported on Sunday that the Chinese leaders vowed at the conference to press ahead with reforms courageously and wisely.

Singaporean newspaper Lianhe Zaobao noted that the new Chinese leadership articulated the overall plan, roadmap and timetable for reforms at the conference.