China's economic and social dev't soundly beyond expectations

China's economic and social development is soundly beyond expectations, with "consolidated" growth recovery. This statement comes after an executive meeting of the State Council chaired by Premier Wen Jiabao.

The release claims the country's quarterly economic growth picked up in the first three quarters and the contribution of domestic demand to economic growth was enhanced. The statement also points out deep problems hindering growth. Fiscal balancing can become more difficult, loan structure is not reasonable and liquidity control becomes more difficult.

It says China's key task in the coming months will be to strike appropriate balance between maintaining growth, restructuring the economy and managing inflation expectation. The statement comes before the government issues third-quarter economic data on Thursday.