China to maintain prudent monetary policy in 2012

Updated: 2011-12-09 20:27


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BEIJING - China will maintain its prudent monetary policy and proactive fiscal policy next year, the Political Bureau of the Communist Party of China (CPC) Central Committee announced on Friday.

The meeting, chaired by President Hu Jintao, also general secretary of the CPC Central Committee, agreed the country will make its policy responses more targeted, flexible and forward-looking next year.

The country also pledges to maintain control over the intensity, pace and focus of macroeconomic regulation and preset or fine tune policies in light of changes in economic development, according to a statement issued by the committee.

At the meeting it was agreed that China will continue to balance efforts to "ensure stable and relatively fast economic growth, while adjusting the economic structure and regulating inflationary expectations next year."

The statement said the country will maintain its unswerving stance on the regulation of the property market next year to make the housing prices return to a reasonable level.