Moreover, the U.S. Federal Reserve's second round of quantitative easing has increased the risk of imported inflation.
To curb inflation and soak up excessive liquidity, the country's central bank has raised banks' reserve requirement ratio six times this year. It also lifted the benchmark lending and deposit rates on Oct. 20, the first such move in nearly three years.
The meeting reaffirmed to boost farm produce supply through the development of modern agriculture in 2011, and clamp down on price speculation which is largely blamed for hiking prices.
The statement said the country will mainly employ economic and legal means, with administrative measures used when necessary, to keep the overall prices "basically stable".
On Dec. 3, China said it will shift its monetary policy stance in 2011 to "prudent" from "relatively loose."
"Credit should go to the real economy, especially the agricultural sector and small business," the statement said.
The meeting reaffirmed the continuation of the government's proactive fiscal policy.
Gao Peiyong, a researcher with the Chinese Academy of Social Sciences, said a combination of proactive fiscal policy and a prudent monetary policy underscore the complications of the current economic situation.
"Macro-regulation has various goals. One is preventing the economy being affected by the global financial crisis. Another is curbing inflation. The situation is more complicated than before," he said.
The meeting also stressed steady growth in fiscal revenue, and austerity in government administrative expenditure, adding that local governments should strengthen debt management efforts.
China's fiscal revenue growth slowed to 12.2 percent in the third quarter this year from an increase of 22.7 percent in the second quarter and 34 percent in the first quarter.
Ma Haitao, a professor with the Central University of Finance and Economics, said the government is expected to face tight fiscal conditions next year, and local governments' debt deserves more attention to prevent it from spreading.
The statement also said the world's economy is likely to resume growing next year, though many uncertainties will remain.
"The global financial crisis had a significant impact on the global economy and the world economic order is undergoing profound and complicated change," it said.
Participants at the meeting agreed China's stable economic development would encounter a complicated situation next year, with many challenges and difficulties.
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To curb inflation and soak up excessive liquidity, the country's central bank has raised banks' reserve requirement ratio six times this year. It also lifted the benchmark lending and deposit rates on Oct. 20, the first such move in nearly three years.
The meeting reaffirmed to boost farm produce supply through the development of modern agriculture in 2011, and clamp down on price speculation which is largely blamed for hiking prices.
The statement said the country will mainly employ economic and legal means, with administrative measures used when necessary, to keep the overall prices "basically stable".
On Dec. 3, China said it will shift its monetary policy stance in 2011 to "prudent" from "relatively loose."
"Credit should go to the real economy, especially the agricultural sector and small business," the statement said.
The meeting reaffirmed the continuation of the government's proactive fiscal policy.
Gao Peiyong, a researcher with the Chinese Academy of Social Sciences, said a combination of proactive fiscal policy and a prudent monetary policy underscore the complications of the current economic situation.
"Macro-regulation has various goals. One is preventing the economy being affected by the global financial crisis. Another is curbing inflation. The situation is more complicated than before," he said.
The meeting also stressed steady growth in fiscal revenue, and austerity in government administrative expenditure, adding that local governments should strengthen debt management efforts.
China's fiscal revenue growth slowed to 12.2 percent in the third quarter this year from an increase of 22.7 percent in the second quarter and 34 percent in the first quarter.
Ma Haitao, a professor with the Central University of Finance and Economics, said the government is expected to face tight fiscal conditions next year, and local governments' debt deserves more attention to prevent it from spreading.
The statement also said the world's economy is likely to resume growing next year, though many uncertainties will remain.
"The global financial crisis had a significant impact on the global economy and the world economic order is undergoing profound and complicated change," it said.
Participants at the meeting agreed China's stable economic development would encounter a complicated situation next year, with many challenges and difficulties.
1 2 3
