China to keep policy and growth steady in 2014, push reform
BEIJING (Reuters) - 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.
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 polices. We will maintain appropriate growth in gross domestic product," it said.
No target for 2014 GDP growth was announced.
The meeting, chaired by President Xi Jinping, called for keeping reasonable growth in credit and social financing next year, while pushing forward interest rate and yuan currency reforms.
The government would control local government debt and take steps to resolve over-capacity problems, it said without elaborating.
China's leaders have pledged to steer the economy away from its dependence on investment and exports to one driven more by consumption, services and innovation, which they consider more sustainable.
The economy is widely seen growing an annual 7.6-7.7 percent in 2013, just ahead of the government's 7.5 percent target, but still near the weakest pace since the Asia financial crisis in the late 1990s.
Top government think tanks, which make policy proposals, have been divided over whether the growth target should be cut to 7 percent in 2014 from this year's 7.5 percent.
The government aims to set specific reform plans for next year after the Communist Party last month unveiled sweeping economic and social changes, including relaxing the country's one-child policy and liberalising financial markets.
The leadership has decided to set up a high-level central leading group on reforms. State radio said on Friday all local governments would also establish similar bodies to steer change.
(Reporting by China Economics Team; Editing by Nick Macfie)
