Plans to Implement Monetary Policy to Keep Economic Growth at a Reasonable Rate
China is planning to continue to implement its plan to start a pro active fiscal and prudent monetary policy by 2015. The decision came about during the Politburo meeting that was held last Friday and China will keep economic growth at a reasonable range for next year. The Politburo is one of the top decision making body of the Communist Party.
China will also further deepen its reforms as it tries to boost domestic demand and to urbanize further the country. As stated by the Politburo saying that the country should balance the competing needs of stabilizing and reforming its economy by giving a nod on the ongoing debate on how to stimulate the sagging economy without compromising change. In the 30 years of double digit growth which lifted hundreds of millions from poverty but caused so much damage in the air, water and land. Now China is planning to remake its growth into a greener and more sustainable model.
But the agenda was more difficult this year due to a cool down in the economy after saying for months that the country does need any big stimulus, but had the central bank cut interest rates unexpectedly for the first time in years. the country was beset by challenges and difficulties which challenged the authorities to monitor even with the growth engine is at a very good shape.