China's communist party will hold a key annual meeting in October, with the focus on how to slow the rapid pace of the Asian giant's investment-driven economic growth, state media said Monday.
The party's nearly 200-strong central committee will also look at ways to improve "social harmony" at the meeting, Xinhua news agency cited the party's politburo as announcing Monday.
Each year, at what is arguably the most important event on China's political calendar, the party's central committee meets to review the nation's economic and general situation over the past year and make plans for the coming year.
China last week announced a blistering 11.3 percent year-on-year growth rate in the second quarter of 2006, accelerating from the 10.3 percent expansion seen in the first quarter and giving a first half growth rate of 10.9 percent.
The pace is considered too fast, with much of it driven by excessive investment, creating overheating in sectors like the automobile and property industries.
"The country is still facing some prominent contradictions like an excessive fast growth of investment, an excessive consumption of energy, and an increase of pressure on the environment," Xinhua quoted the politburo as saying.
Energy inefficiency is also a major concern in China, which is quickly burning through its supplies to power its economic boom.
Environmental problems meanwhile abound due to lack of government monitoring and the blind pursuit of profits.
On the social front, Xinhua quoted the politburo meeting as saying: "Our country now enjoys a harmonious society in general, but there do exist quite a few contradictions and problems that have affected the social harmony."
