Amid a gloomy global economic situation, world leaders and scholars are paying greater attention to the ongoing annual sessions involving thousands of China's lawmakers and political advisors. They hope the Chinese government's policies, to be passed at the NPC session, will help the world recover from the worst economic downturn in decades. Xiaohong has the story.

Reporter:

China has set its 2009 economic growth target at around 8 percent. The bold target has showed China's continuing economic strength, said Doctor Yang Mu, a senior researcher with Singapore University. He predicted that China might be the first country in the world to walk out of the current downturn.

"The Chinese government's reactions are very positive and the measures are timely. Last November, the Chinese government outlined a 4-thousand-billion-Yuan stimulus plan to boost its economic development. Figures from December and January have shown a sign of recovery in some areas."

These measures, Yang Mu said, are likely to help China end the current recession in the middle of 2009 and start its recovery in the latter half of the year.

China's positive economic stimulus plan has won plaudits abroad.

A UN report dubbed China as the world economic recovery's power engine. Virachai Virameteekul, minister of the Thai Prime Minister's Office, praised China for its firm stance on anti-protectionism.

"I think the biggest challenge is trade protectionism. China plays an important role in world economy. China's open policy encourages bilateral trade and investment. Therefore, I think China will play a leading role in dragging the whole world out of the current recession."

China's stable economic growth will also inject confidence to the international society. Mikhail Titarenko, head of the Far-East Research Center at the Russian Academy of Sciences, says a stable Chinese economy will encourage the international society to work together amid the financial crisis.

"In my opinion, China will help stabilize the situation. Many of my colleagues and counterparts hold the same view. We noticed that the Chinese government has taken active measures, including stabilizing its foreign currency exchange rate against the greenback. These measures have played a pivotal role in ending the tottering situation."

China's relatively fast growing economy will benefit other countries, especially those hit hard by the recession.

However, despite the high expectations, analysts say China's goal of an eight percent growth of economy this year still faces many challenges.

Xiaohong, CRI News.