China will continue fiscal stimulus spending and its current monetary policies this year as the country has not fully recovered from the economic downturn, the South China Morning Post reported. According to a statement issued after a Politburo meeting chaired by Hu Jintao, "China will continue to maintain the continuity and stability" of current policies. The announcement comes in the run up to the National People’s Congress, the annual meeting of parliament, and will set the tone for future economic policies emanating from Beijing. Central bank officials had been indicating that a stimulus exit strategy would be soon set in motion as fears of too rapid a rise in economic growth increase.
Categories