President Hu Jintao eulogized on Thursday the nationwide reform adopted by the Communist Party of China (CPC) for the past three decades when China saw nearly ten percent average annual growth rate.

Hu, also general secretary of the CPC Central Committee, highly valued Deng Xiaoping, Chinese paramount leader at that time, and his most senior associates for their bold decision on restructuring the national economy and opening up to the outside world.

China holds a conference to mark the 30th anniversary of the convening of the Third Plenary Session of the 11th Central Committee of the Communist Party of China, at the Great Hall of the People in Beijing, capital of China, Dec. 18, 2008.

Hu also praised the landmark event of the Third Plenary Session of the 11th CPC Central Committee, on which the central leadership took efforts to mobilize all ranking officials to conduct reformist steps.

Hu said the CPC has successfully transformed inertia resulting from the planned economy to the dynamic socialist market economy, shaping the mechanism that the public ownership plays primary roles while various types of ownership are thriving.

The Chinese economy management policies underscore the comfortable combination of macro control and market dynamics, Hu said.

In tandem with the economic reform, Hu said, the central leadership continuously deepened political, cultural and social restructuring, which helped stimulate economic prosperity as well as social harmony.