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China's economy is expected to continue its recovery and achieve a higher growth rate next year, driven by consumption, experts said.

China's growth has been slowing to a "new normal" and economic rebalancing is underway. Managing this transition in a sustainable manner will be critical to achieving the country's development goals, the report "Towards a More Inclusive and Sustainable Development" said.

China's credit expansion aims to strengthen the real economy's growth in the coming months, accompanied by the fine-tuning of the central bank's monetary policy and the deepening of reforms to facilitate the deleveraging process.

China's fixed-asset investment growth was 5.4 percent in the first three quarters, 0.6 percentage point lower than in the first two quarters but 0.1 percentage point higher than in the first eight months, indicating that growth was slightly accelerating.

China's industrial output posted steady growth in the first two months of this year, up 5.3 percent year-on-year compared with 5.7 percent in December, official data showed Thursday.