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China to maintain macro-economy in 2010

(Xinhua)
Updated: 2009-11-27 19:32

BEIJING - China will continue the proactive fiscal policy and moderately easy monetary policy next year, the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday.

Bureau members at a meeting chaired by President Hu Jintao, also general secretary of the CPC Central Committee, agreed the government would maintain continuity and stability in its macroeconomic policies.

More efforts would be made to improve the quality and efficiency of economic growth, to promote the transformation of the economic development pattern and structural adjustments, according to a statement released after the meeting.

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The meeting vows to enhance the focus and flexibility of economic policy in the following year according to new situations. It urges to further carry out and enrich the economic stimulus package to make the economy grow in a more stable, balanced and sustainable way.

China's economy grew 8.9 percent year on year in the third quarter this year, accelerating from 7.9 percent in the second quarter and 6.1 percent in the first quarter.

The statement also said that more efforts would be made to promote reform and opening up and innovation, enhance the vigor and momentum of economic growth, improve people's livelihood and maintain social stability.

During next year's economic work, the government would improve policies to spur consumption and ensure investment grow at a reasonable pace, it said.

The government aims to boost domestic demand, especially the sustainable increase in consumption next year. It also vows to improve policies to stabilize external demand, actively increase imports and encourage companies to invest overseas, said the statement.

The statement called for improvements and implementation of policies to encourage private investment as well as increasing support to sectors including agriculture, science and technology, education, public health, culture, social security, energy saving and environmental protection.

The government pledged to "actively" deal with climate change next year by implementing measures to cut its carbon intensity and improve energy efficiency, according to the statement.

The government would step up construction of major projects related to energy conservation and environmental protection in 2010, it said.

Other issues on the 2010 economic work agenda included enhancing efforts to boost employment, promoting development in rural areas and increasing farmers' earnings, implementing stimulus plans to support key industries, and deepening the reform of medical and health system, according to the statement.