China to continue proactive fiscal policy

Senior leaders of the Communist Party of China (CPC) agreed on Monday China shall continue proactive fiscal policies and prudent monetary policies in 2012.

It was revealed by a statement issued after a meeting held Monday. The meeting, attended by members of the Political Bureau of the CPC Central Committee, was held to discuss a draft report submitted by the central government to China's top legislature's annual session scheduled for next month.

China shall continue to implement proactive fiscal policies and prudent monetary policies in 2012, while the policies could be adjusted slightly in accordance with the changes of the situations to make them more targeted, more flexible, and more forward-looking, the statement said.

China shall strengthen and improve macroeconomic regulations and continue to keep a balance between keeping economic growth, restructuring the economic pattern and managing inflation expectations, it said.

The country shall also speed up endeavors to transform the economic growth pattern and put more efforts to expand domestic demands, especially that of consumption.

Moreover, the Party and government shall continue to improve people's livelihoods and maintain a steady general level of market prices to welcome the CPC's 18th National Congress slated in the second half of the year.

The fifth session of the 11th National People's Congress, China's top legislature, will start on March 5.