BEIJING, Jan. 2 (Xinhua) -- Electing new State leadership, hosting the 29th Summer Olympic Games and marking the 30th anniversary of reform and opening-up -- 2008 will bear witness to China's economic and social progress.

    Prevent economic overheating, curb inflation

    The economy has grown faster than 10 percent annually for the past five years. The primary task of China's 2008 economic work has been set: "to prevent the economy from becoming overheated and to guard against a shift from structural price rises to inflation."

    Fueled by continuous food price hikes, the consumer price index(CPI) jumped by 6.9 percent in November, the highest in nearly 10 years. This sharp increase indicated accelerating inflation pressure.

    Higher food prices, including those of pork -- the country's staple meat -- had a strong impact on people's lives, especially low-income earners. Inflation could affect China's stable economic development and the government has put a high priority on curbing price hikes.

    In 2008, China shifted its monetary policy from a "prudent" stance, which the country had followed for the last 10 years, to "tightening." China will use tighter monetary policies and prudent fiscal policies to ensure structural adjustment and uniform economic development.

    Elect new State leaders during March 2008 meetings

    China has decided to convene the first plenary session of the 11th National People's Congress (NPC) on March 5, 2008, during which top state and government leaders will be elected.

    The 17th National Congress of the Communist Party of China(CPC),convened in October 2007, drew up overall plans for economic, political, cultural, social construction and party building activities. During the First Session of the 11th NPC, the deputies will discuss and vote through major reform plans, including a State Council plan on institutional reform.