Economy

China stresses economic stability in 2011

(Xinhua)
Updated: 2011-02-22 10:16

BEIJING - China's top leading body Monday pledged to prevent wild swings in the economy, while warning that the economic situation in 2011 would be complicated.

The country should maintain stable and consistent macro-economic policies while improving accuracy, flexibility and efficiency of the policies, the Political Bureau of the Communist Party of China (CPC) Central Committee decided at a meeting presided over by President Hu Jintao, who is also General Secretary of the CPC Central Committee.

Officials at the meeting were urged to "remain sober, be aware of difficulties, and work hard to fulfill the tasks this year so as to create a good beginning for the 12th Five-Year Plan (2011-2015)."

The top echelon of leadership reassured that China would continue an active fiscal policy and prudent monetary policy, while trying to balance steady economic growth with economic restructuring and control of inflationary expectations.

"It is necessary to maintain stable commodity prices, expand domestic consumption, increase investment in agriculture, speed up industrial restructuring, promote education and development of science and technology, and improve people's livelihoods and cultural services," the Political Bureau of the CPC Central Committee urged at the meeting.

It also reiterated the importance of making great efforts to expand reforms in key sectors, advance the cause of opening-up, while intensifying endeavor to build a clean government and fight corruption.

Members of the Political Bureau of the CPC Central Committee also discussed the drafts of the government work report and the 12th Five-Year Plan (2011-2015).

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The two documents will be submitted to the top legislature for discussion and approval at its forthcoming annual session in March.

The period from 2011 to 2015 will be critical for China which wants to build a well-off society, said a statement from the meeting.

In the next five years, in a bid to meet Chinese people's expectations for a better life, China will stick to scientific development by focusing on accelerated transformation of its way of economic growth while deepening the reform and opening-up, guaranteeing and improving people's livelihoods, according to the statement.

"It is necessary to solidify and boost China's success in outperforming other countries in dealing with the international financial turmoil, and advance the economy to grow at a faster and steady pace for a long time while guaranteeing social harmony and stability," the statement said.