Chinese Leaders Pledge To Push Reforms in 2014

China’s leaders pledged to maintain stable economic policies to achieve reasonable economic growth in 2014 while forging ahead with reforms, as they wrapped up a closed-door meeting on Friday, state radio reported.

Top leaders have unveiled a bold reform agenda for the next decade as they try to steer the world’s second-largest economy towards more sustainable growth after three decades of breakneck expansion.

China will stick with a prudent monetary policy and pro-active fiscal policy next year, the report said, citing a statement issued after the annual Central Economic Work Conference, which brings together top party leaders, government ministers and provincial officials.

“We will maintain stability and continuity in macro-economic policies. We will maintain appropriate growth in gross domestic product,” it said.

No target for 2014 GDP growth was announced. Annual targets on economic growth, inflation, investment and money supply will be unveiled in parliament in March.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza