China set to maintain monetary policies

Agence France Presse

Beijing, July 27:

China will continue to pursue ‘prudent’ fiscal and monetary policies and will maintain the stability of its marco-economic drive, president Hu Jintao was quoted as saying by state media today.

“The focus of future economic work should be put on the adjustment of the economic structure, the change of the economic growth mode, the deepening of reform and the promotion of a balanced development,” he was quoted as saying by Xinhua news agency.

The president, who was speaking to cadres at a seminar organised by the communist party’s elite central committee, was echoing China’s pledge on its economic policy made late last year. China will also ‘enhance and improve’ various macro-control measures and make modest adjustments on some to guide the economy “in an expected direction,” Hu said, without elaborating on what changes would be made.

He also said China’s export structure should be optimised and called for ‘good solutions’ to unemployment, poverty and industrial safety issues.

In addition, he called for intensified efforts to build a more resource-efficient society.