China will hold an annual economic conference in Beijing from December 10-12 to set guidelines for next year’s monetary and fiscal policy, Bloomberg reported. Officials are expected to discuss lending and inflation targets. China’s central bank has said it will guide monetary conditions back to normal after unprecedented lending drove the nation’s economic recovery since 2008. After raising interest rates in October, officials have also discussed imposing price controls and using such tools as sales of state food reserves to counter the fastest inflation in 25 months. Officials at the meeting may set a higher inflation target of 4% for 2011, up from this years’s 3%, and shift to a "prudent" monetary policy, China Business News reported. Last year’s meeting was attended by President Hu Jintao and Premier Wen Jiabao, along with other government officials and some executives of state-owned enterprises.
Categories