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'Seek progress while maintaining stability'


12-18-2016 03:25 BJT

China's annual Central Economic Work Conference has concluded. The conference confirmed a key principle of governance, which is to 'seek progress while maintaining stability'. The meeting called for an active fiscal policy and steady monetary policy, which means pushing forward supply-side reform, cutting corporate taxes, and keeping the exchange rate of the RMB in a reasonable range, while increasing its flexibility.

The meeting also called for measures to increase both business confidence within private entrepreneurs, and public trust towards the government. Also, the stable and healthy development of the real estate market topped the agenda. The statement of the meeting said "houses are built to be inhabited, not for speculation".

The government will use land, investment, lawmaking, fiscal policy and taxation, and financial instruments to achieve these goals. The meeting also called for more incentives concerning innovation, and the enhancement of productivity. The conference is an annual meeting by the country's most important political figures, bringing them together to set the national agenda for the country's economy.

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