Economic Policy News
- Govt. to improve macroeconomic controls
Date: 4-Dec-2006 Sources: (Shenzhen Daily)
THE government will 'strengthen and improve?its macroeconomic controls next year to ensure a stable and fast pace of economic growth for 2007, according to a report carried by State radio on the results of a Communist Party Politburo meeting.
The statement from the meeting, which was chaired by President Hu Jintao, said the Chinese economy was moving in the desired direction, but long-term structural economic problems remain.
The meeting was aimed at laying the framework for next year's economic strategy, State radio reported.
'While some prominent problems in the operation of the economy have eased a bit, (the improvement) is far from settling on a firm footing with some unreasonable and deep-rooted structural problems remaining unsolved,'the statement said.
In 2007, the government 'must maintain steady and fast economic growth, preventing any big swings,'said the statement.
The statement didn't provide a specific goal for next year's economic growth. Nor did it outline a plan of how to strengthen macroeconomic controls next year.
But it indicated that further tightening steps are being considered as concerns over overheating remain in an economy that surged 10.7 percent in the first three quarters, driven by rapid fixed-asset investment growth.
The statement stressed that policy next year will focus on improving the quality and efficiency of the economy, rather than just chase a high growth rate.
The government has predicted that the economy is likely to maintain growth of above 10 percent this year, though it may slow slightly from the pace recorded in the first three quarters.
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