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Beijing vows stable growth, inflation management
ASSOCIATED PRESS
Photo
In this photo taken on Thursday Dec. 9, 2010, Chinese workers push carts past a clean energy themed billboard featuring U.S. President Obama as the Buddha on the streets of Shanghai.
Beijing vows stable growth, inflation management
Associated Press
SHANGHAI
China’s leaders wrapped up an annual economic planning meeting Sunday with a pledge to cool surging inflation while shifting the economy toward more stable, balanced growth.
The vow to keep the economy on an even keel came a day after the government reported that inflation jumped to a 28-month high in November, despite a crackdown on speculation and repeated moves to curb the flood of money circulating in the economy from massive stimulus spending and bank lending.
A statement announcing the end of the conference, which takes lace each year in early December, reiterated previous pledges to support farmers, fight poverty, promote clean energy and various other sweeping goals. But the broad policy blueprint included no specific new policy measures.
In the coming year, which is due to begin a transition to a new generation of leaders, economic policies will be flexible, proactive and prudent, said the statement, carried by the official Xinhua News Agency.
The aim is to maintain a balance between fast growth and stability.
“China is facing a complicated situation. Improving people’s living standards and keeping social stability are still arduous tasks,” said the statement, which was read on the evening state-run television news broadcast.
The meeting also warned against “blindly launching new projects” as the country begins the new decade — and a new “five-year plan” for 2011-15.