With the release of a new evaluation system that no longer prioritizes the growth-at-all-costs economic model, Chinese leaders are making the ongoing annual Central Economic Work Conference the launch pad for crucial reforms that are essential for sustainable growth.

It is hoped that local officials will enthusiastically incorporate greater social inclusion and environmental sustainability into their economic decision-making to fulfill the country's new economic plans for 2014.

As the world's second-largest economy, the stability and growth momentum of the Chinese economy also means a lot to the health of the global economy.