Economic Observer Online
Dec 14, 2011
Translated by Pang Lei
Original Article: [Chinese]

Leaders of China's ruling Communist Party decreed that they would continue to maintain the current "proactive fiscal policy and prudent monetary policy" into next year at the close of this year's Central Economic Work Conference.

China's top leaders, high-level policymakers from central government departments, the military and provincial-level governments agreed on the general direction of economic policy for the coming year at the three-day conference, which concluded in Beijing on Dec 14.

According to official reports of the issues discussed at the meeting published by China's official Xinhua News Agency, policy makers pledged to ensure that macro-economic policies and overall consumer prices remain basically stable.

The Xinhua News Agency report also noted that policy makers aim to keep the yuan's value "basically stable" whilst pushing ahead with reforms aimed at liberalizing the country's interest exchange rates.

The statement also included many stock phrases that are repeated every year, like commitments to "improve the quality of macro-regulation, maintain stable and relatively fast economic growth."

At the economic work conference held at the end of 2010, policy makers vowed to pursue a macroeconomic policy orientation that was "proactive, stable, prudent and flexible" (“积极稳健、审慎灵活”).

Links and Sources
Xinhua News Agency: 中央经济工作会议举行 胡锦涛、温家宝作重要讲话