China will maintain prudent monetary policy and proactive fiscal policy, according to Chinese President Xi Jinping, also general secretary of the Communist Party of China, at a CPC Politburo meeting in Beijing.

Members at the meeting agreed that China's economy has been stable in the first three quarters. Structural reforms have achieved progress with high tech and services industries growing at a fast pace. Local governments have been pushing forward supply-side reforms and cutting overcapacity.

The meeting also addressed issues in economic development, stressing a growing gap between regions and industries.

The central government pledged to increase support for poorer provinces. They also agreed that China should curb asset bubbles and fend off economic and financial risks. The Politburo is the decision making body of the Communist Party of China.