Beijing, February 16:

China will keep tight controls on fixed-asset investment and credit growth this year, state media reported Friday, citing a key government conference chaired by president Hu Jintao.

The Political Bureau of the Central Committee of the Communist Party, China’s core leadership, met yesterday to discuss the cabinet’s work report that will be released in March, the China Securities Journal reported. China will “maintain a prudent fiscal and monetary policy to push forward restructuring of the economy,” Hu said. He noted that key macro-economic controls will be kept on fixed-asset investment and credit growth.