Market Watching Atmosphere &Nbsp; Waiting For Policy Boots Landing.

In recent days, the volume of capital market has shrunk. In the first trading day of December, the volume of pactions in Shanghai and Shenzhen two cities totaled 201 billion 970 million yuan.

There are research institutions analysis, the current wait-and-see atmosphere is strong, for the upcoming Central Economic Work Conference, the 12th Five-Year plan and next year's economic trend, the market gives more expectations.

China's economic operation has successfully escaped the impact of the financial crisis and has begun to enter the normal development channel.

Under such circumstances, fiscal and monetary policies also need to be adjusted.

An authoritative personage puts forward that fiscal and monetary policies should gradually achieve a smooth pition from crisis to conventional.

When economic growth has returned to normal growth, it is objectively required that our macroeconomic policies should be neutral and stable.

It is proposed to adopt a broad fiscal and tight monetary policy next year, or a prudent fiscal and monetary policy.

In November 23rd, the vice governor of the central bank Hu Xiaolian held a forum on monetary and credit work in Beijing. He stressed that at the next stage, we should continue to handle the relationship between maintaining stable and rapid economic development, adjusting the economic structure and managing inflation expectations in accordance with the unified arrangement of the party Central Committee and the State Council, and continue to guide the return of money and credit to normal level.

Sheng Songcheng, director of the central bank's investigation and Statistics Division, issued a document in the financial times in November 30th, making clear that it is clear that a prudent monetary policy should be announced and a clear policy signal should be issued to all sectors of society.

Since December 1st, Du Jinfu, deputy governor of the central bank, has publicly stated that the central bank will further improve.

Whether it is "return to normality" or "prudent", such a high-profile proposal by the central bank seems to indicate the end of moderately loose monetary policy, and monetary policy has turned into a general recognition.

As CPI continues to grow,

Zhu Jianfang, chief macroeconomic economist of CITIC Securities, who interviewed by Caijing, predicted that next year's new credit will be 7-7.5 trillion yuan, which is mainly based on the goal of maintaining stable economic growth.

2011 is the year of the opening of the 12th Five-Year plan. Promoting economic restructuring and pformation of development patterns has become an important task.

Shenyin Wanguo's research report said that in 12th Five-Year, it will enter the middle stage of pformation.

The breakthroughs in the economic environment and policy will push the pformation deeper. We anticipate that the economic policy environment will undergo three core changes: the labor force price has obviously improved, the energy saving and emission reduction requirements have been further improved, and the acceleration of economic equalization has been further accelerated. This is mainly reflected in increasing support for backward areas, accelerating urbanization and further improving the public service system.

SW believes that in the context of deepening pformation, the main risks facing economic growth need to shrink and the growth rate of domestic real estate investment will fall. The main driving force of economic growth will come from pformational investment.

In 2011, China's economy is expected to show a pattern of high growth and high inflation, with an economic growth rate of 9.6% and an inflation rate of 3.7%.