BEIJING, Dec. 16 (Xinhua) — China has the conditions and room to strengthen counter-cyclical adjustments, providing strong policy support for achieving annual goals and tasks, said a senior official.
The remarks, made by an official from the Office of the Central Committee for Financial and Economic Affairs, came after last week’s tone-setting Central Economic Work Conference.
Next year, China will implement a more proactive fiscal policy for the first time, and adopt a moderately loose monetary policy after having a prudent monetary policy for 14 consecutive years, according to the official.
The major shift in the tone of macro regulation reflects concerns that the adverse effects of changes in the external environment may deepen, while the domestic economy continues to face challenges, the official said.
It is crucial to confront these challenges head-on and take proactive actions to ensure good economic performance in the coming year, the official added.
Source: Xinhua
