China will work hard to stabilize the macroeconomy next year, with greater efforts to prevent and defuse risks in key areas, the country’s top economic regulator said.

The world’s second-largest economy will put its focus on nine areas for the coming year, including expanding domestic demand, fostering innovation-driven development and establishing a better system for the production, supply, storage and sale of coal, electricity, oil and natural gas, the National Development and Reform Commission said during its annual meeting held from Friday to Saturday.

According to those at the meeting, the government will continue to ramp up efforts to ensure “six priorities” and stability in six areas for steady economic momentum, prevent and defuse financial risks and deal with corporate debt default issues via reforms, and market-oriented and legal methods.

Looking ahead, more efforts will be made to spur the digital economy, promote industrial transformation and upgrading, promote the integrated development of advanced manufacturing and the modern service sector, further market reforms and promote high-level opening-up for the coming year, those at the meeting stressed.

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