China Will Maintain Its Basic Economic Policy Next Year.

< p > China's new leader has completed its first major meeting, and agreed to maintain basically unchanged economic policy next year.

Data in recent months show that the growth of the world's second largest economies has rebounded.

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"P >" at the end of last two days of the annual "a href=" http://sjfzxm.com/news/index_c.asp "central economic work conference" last night, the ruling Communist Party introduced the economic tasks of the coming year, and basically maintained the last government to be handed over.

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< p > although the wording used is all set, and there is no policy surprise, it is the first important policy making event since the new government was unveiled in mid November.

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Nearly all senior officials attended the central economic work conference. Xi Jinping, the new general secretary of the CPC Central Committee, put forward the general requirements and main tasks of the party's economic work, including speeding up the process of urbanization, increasing investment in infrastructure and increasing domestic consumption.

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< p > the conference also agreed to maintain "positive" a href= "http://sjfzxm.com/news/index_q.asp" > fiscal policy < /a > and "prudent" monetary policy.

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< p > China will almost certainly have the weakest annual economic growth rate since 1999 (7.6%).

But after a significant downturn earlier this year, China's economy has rebounded moderately in recent months, providing some breathing space for the new government, so that it does not need to take urgent action to substantially adjust its policies.

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< p > "in the case of a rebound in gross domestic product (GDP) growth, a rebound in corporate earnings growth and lower inflation, we believe that China's economy is in a favorable position and can maintain this state in the first half of 2013," said Lu Ting, economist at Bank of America Merrill Lynch.

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< p > even if the new leadership really faces more challenging prospects in the coming months, it can easily adjust its fiscal and monetary policies without changing the wording.

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The Central Bank of China has always called its monetary policy "robust" since the late 2010. Even in this process, the Central Bank of China has been swaying from extreme ease to relative tighter, and then tends to be relatively relaxed. "P"

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< p > fiscal policy has been "positive" since the late 2008, when Beijing launched a stimulus package of 4 trillion yuan against the global financial crisis, but no economist expected the Chinese government to take similar measures in the foreseeable future.

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In the statement issued at the end of the meeting, the Chinese government vowed to continue to adhere to the "a href=" http://sjfzxm.com/news/index_s.asp "real estate market < /a > regulation policy, which has been implemented for two years, and its purpose is to curb the rapid rise in house prices so as to avoid social instability." P "

The government will also speed up housing construction for low-income groups, and encourage the acceleration of urbanization for hundreds of millions of farmers.

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China's property market seems to have rebounded in recent months after the P price decline and construction activity decreased earlier this year.

Real estate investment accounts for about 13% of the direct proportion of GDP in China, occupies 1/5 of the fixed assets investment, and has a huge chain impact on other industries.

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While P promised to increase public investment next year, the new leadership also vowed to "speed up the adjustment of the economic structure and change the mode of economic development".

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