eChinaJOBs APP Download

China to keep steady policies, deepen reforms next year

shasha01 Dec 17.2012 09:41 + Add your comment
Tags: Central Economic Work Conference brings Category:My Blogs
blog|86|35798
 

China will maintain a “prudent” monetary policy and a pro-active fiscal policy next year, leaving room for manoeuvre in the face of global uncertainties, the official Xinhua news agency said after the country’s annual policy-setting conference on Sunday.

Chinese leaders will also push forward the next stage of economic reforms “with greater political courage and wisdom”, the agency said.

“China will continue to implement the pro-active fiscal policy and prudent monetary policy next year,” Xinhua said after the close of the annual Central Economic Work Conference in Beijing, the first such meeting under the new Communist Party leadership.

China’s central bank has kept the prudent monetary policy since late 2010 that has encapsulated at first modest tightening and then modest loosening following the global financial crisis.

Fiscal policy has been pro-active, or expansionary, since late 2008, when Beijing unveiled a 4 trillion yuan stimulus package after the economy took a big hit during the global financial crisis.

China’s annual economic growth dipped to 7.4 per cent in the third quarter – the weakest pace since the depths of the global financial crisis in early 2009 – but growth has been picking up steady since October thanks to a raft of pro-growth policies.

China’s vast manufacturing sector expanded in December at its fastest pace in 14 months as new orders and employment rose, a survey showed on Friday, adding to evidence of a pick-up in the economy that helped to boost market sentiment.

The government will maintain its property controls next year to ward off potential risks, Xinhua said, and will make greater efforts to improve the quality of urbanisation to help bolster domestic demand, Xinhua said.

Communist Party chief Xi Jinping has signalled a commitment to deepening economic reforms by visiting the southern Chinese city of Shenzhen last week – echoing groundbreaking comments by reformist senior leader Deng Xiaoping during his famous “southern tour” to the same area 20 years ago.

The closed-door Central Economic Work Conference brings together China’s top leadership, provincial officials, ministers, regulators and the central bank chief as well as the heads of the top state firms and banks.

Do you like this post?

blog|86|35798
Share:  

0 Comments ( Add your comment )

No one has commented on this article

Add your comment

All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate. Please use the Classifieds to advertise your business and unrelated posts made merely to advertise a company or service will be deleted.

Please login to add a comment. Click here to login immediately.
User Reported: 
Reasons: 

Up to 500 words allowed. Words remaining: 500

  

Categories in this Blog

Visitors

1 people viewed this profile

Your resume was updated on 17/10/2017. Resumes can be edited any time. Manage resume

×

Your resume hasn't been updated in seven days. Having an up-to-date resume will make you stand out.
Update Resume

×

Creating an online resume enables you to apply for job openings in seconds and makes your profile visible to thousands of recruiters who search for candidates in our resume database!
Create Resume

×

Your resume has been updated. Manage Resume