"A framework has already been set up, and what we need to do this year is to make sure that all these policies can be implemented."

Wang Zuogang, director of the cross-border yuan business division at the People's Bank of China, saying that China will aim for stability this year in terms of its policies on cross-border yuan-denominated business, and the nation will focus on implementing current measures rather than introducing new ones.

"Growth close to 9 percent for the world's second-largest economy was absolutely good news for a global economy on the edge of a double dip (recession)."

Wang Tongsan, a senior researcher at the Chinese Academy of Social Sciences, admitting that a further slowdown in China's growth may drag on countries such as the United States and Germany, which are counting on exports to China to aid in their own recoveries.

(China Daily 01/20/2012 page14)