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November 6, 2009

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Home » Business » Economy

Policy to reiterate stability

A Chinese government think tank leader said yesterday China's macroeconomic policy in 2010 should focus on maintaining steady economic growth and stable prices.

Liu Shijin, deputy director of the State Council's Development Research Center, made the statement at a forum in Beijing on the first anniversary of the introduction of the government's 4 trillion yuan (US$586 billion) economic stimulus plan.

The government should adhere to its proactive fiscal and moderately easy monetary policies in 2010 to achieve fast and steady economic development, he said.

China's exports may expand by 8 percent to 10 percent in 2010, Liu said, adding they may grow at the end of this year.

Liu forecast China's Consumer Price Index and Producer Price Index would grow again before the end of 2009. He said high inflation was not a concern as he forecast CPI at a moderate 3 percent at least for the first half of 2010.

However, inflationary pressure might rise in the second half and the possibility of an annual rate of 5 percent could not be ruled out due to increasing asset prices, Liu said.

So, a major task of the government for 2010 was to maintain economic development while keeping prices under control, said Liu.

On November 5, 2008, the State Council, China's Cabinet, announced the stimulus plan.


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