China to keep 2015 growth, policy steady under “new normal”

BEIJING, Dec. 12 (NsNewsWire) — China will strive to keep economic growth and policies steady in 2015 and adapt to the “new normal” of slower speed but higher quality, said a statement released after a crucial economic policy meeting concluded on Thursday.

The Central Economic Work Conference saw Chinese leaders and senior officials sketching out the government’s guiding economic policies and priorities for the country for the next year, reports Xinhua.

Continuity and stability are key to macroeconomic policies. “The proactive fiscal policy should be stronger and the prudent monetary policy should be more focused on striking a proper balance between being tight and loose,” according to the statement.

To reach the 2015 goals, the leaders also vowed to accelerate reforms, further open up economy, encourage innovation, upgrade agriculture, enhance regional integration, and improve low-income people’s life.

The meeting is especially crucial after something of a rocky year. In the third quarter, growth slid to a low not seen since the 2008/2009 global financial crisis, dragged down by a housing slowdown, softening domestic demand and unsteady exports.