China will deepen reform and encourage both private and public investments to ensure long-term growth, a government statement said at the end of an annual economic conference presided over by Communist Party of China (CPC) general secretary, Xi Jinping. The Central Economic Work Conference (CEWC), which set the tone for economic policymaking for 2013, called for “greater political courage and wisdom”.

The top leadership, provincial officials, ministers and the central bank chief as well as heads of top state firms and banks attended the meeting kept out of bounds for journalists.

“The country will step up its effort to stabilise foreign direct investment inflows while expanding its outbound investment next year,” the statement said.