Full coverage: 2016 Central Economic Work Conference

China's November economic data was crucial for global investors who are adjusting their 2017 portfolios.

China's economic resilience is especially critical for the global market as the biggest two economies are in a political spat.

That's why the global media is hoping to catch some cues at the upcoming Central Economic Conference in China.

The words China and economy usually mean headline stories. Bloomberg reports that an increase in consumption in November's China data provides some assurance for Beijing to focus more on guarding financial risks while letting the economy run its course.

Bloomberg says China needs to fulfil the commitment made at the Politburo meeting last week as doubts about China's economic health deepens.

BBC cites analysts as saying that China will set a growth target for 2017 that's in line with this year's level, around 6.5 percent. BBC reports that a gain in consumption and growth in industrial added value provide some buffer for China's expansion.

India's Economic Times reports that some Indian business leaders say the southern Asian country is facing challenges that China faced 10 years ago. That means that China's economic decisions at this point are crucial for India. The ET also reports that Prime Minister Modi's cash bill reform will hit India's economy in the short term, widening the economic gap between the countries.