BEIJING, Dec. 23 (Xinhua) -- The monetary policy committee of China's central bank has reiterated the government's decision to maintain the moderately easy monetary policy in 2010 and improve the focus and flexibility of the policy according to circumstances.
The committee also agreed at a quarterly meeting that the government would manage the growth of credit increase next year to avoid big fluctuations in lending, according to a report posted on the website of the People's Bank of China Wednesday.
During the 2008 Central Economic Work Conference (CEWC), the annual economic planning meeting, the government decided to shift to the moderately easy monetary policy in 2009 to boost economic growth. The government decided at the 2007 CEWC to implement a tight monetary policy in 2008 to avoid overheating.
According to the central bank, China's new yuan-denominated lending in the first 11 months this year totaled 9.21 trillion yuan (1.35 trillion U.S. dollars), 5.06 trillion yuan more than the corresponding period last year.
The 13-member committee, headed by the bank's governor Zhou Xiaochuan, agreed that more financial support should be given to the transformation of the economic development pattern and adjustment of economic structure.
The committee also asked the country's lenders to firmly control loans to new projects, energy-consuming and polluting industries and those facing overcapacity.
China to continue fiscal and monetary policies next year
BEIJING, Dec. 7 (Xinhua) -- China would continue to adopt the proactive fiscal policy and moderately easy monetary policy next year and endeavor to improve the economic growth quality, according to the Central Economic Work Conference Monday.
Chinese President Hu Jintao and Premier Wen Jiabao addressed the meeting, which is held once a year to set the tone for economic development during the next year. Full story
China vows to promote transformation of development pattern in 2010
BEIJING, Dec. 7 (Xinhua) -- The Chinese government pledged Monday to push forward the transformation of economic development pattern next year while maintaining a stable and comparatively fast economic growth.
The three-day annual Central Economic Work Conference, agreed that the global financial crisis highlighted the urgency to transform China's economic development pattern.Full story
China opens key economic work meeting, policies expected to continue
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Delegates attend the Central Economic Work Conference in Beijing, capital of China, Dec. 5, 2009. (Xinhua/Ju Peng)
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BEIJING, Dec. 5 (Xinhua) -- China's decision makers gathered here Saturday to determine economic policies for 2010, aiming to better deal with the impact of the international financial crisis and consolidate the foundation for economic recovery.
The Central Economic Work Conference, an annual event initiated more than a decade ago, started days after China said it would continue the proactive fiscal policy and moderately easy monetary policy next year. Full story
Special Report: Global Financial Crisis
