"China lacks no market or demand. What it needs to do is to keep up confidence and turn the potential domestic demands into market opportunities," Zhuang said.

    Zhuang said to maintain economic growth was the short-term goal for the country, while China needed to upgrade its exports products mix and economic structures and increase citizens', especially farmers', consumption for the long run.

    With many export-oriented enterprises already feeling the pinchfrom flagging world demand, the country was turning its attention to the domestic market with a 1.3 billion population.

    A subsidized household appliance program kicking off in Chinese rural areas since last December attracted the limelight from both home and abroad.

    The government promised to grant a 13 percent subsidy for colour TV sets, refrigerators, mobile phones, washing machines and ice boxes for farmers' when buying these household appliances to improve 900 million rural residents' living and boost domestic consumption.

    Samsung, Panasonic, Nokia and other foreign brands were on the list with leading domestic electronic manufacturers snapping the bigger share of the cake that was estimated to grow to as large as near 1 trillion yuan in the coming four years.

    Panasonic said it was doing its best to cut its production cost of refrigerators to 2,500 yuan -- the threshold price set by the government.

    Ou Minggang, deputy editor-in-chief of "Chinese Banker" magazine, said China's development still had great room as the country was still on its fast track of industrialization, urban construction and consumption structure upgrading.

    Mei Xinyu, a trade expert with the Ministry of Commerce, pointed out the financial crisis made it more difficult for Chinese economy restructuring.

    "Only through a bigger boost from domestic demand, can we improve Chinese people's income and create more demands for new products," Mei said.

    He added that also through economic restructuring and export upgrading, China could turn itself from a big trade country in to strong trade nation.

    Although export is a major engine for the country's gross domestic product (GDP) growth, more than 60 percent of the world factory's exports rely on orders from foreign countries.