UPDATE 1-China to stick with pro-growth policies - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

How Well Do You Know Your Bird?
Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.
A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

UPDATE 1-China to stick with pro-growth policies

By: AFX | 04 Nov 2009 | 10:15 PM ET

Text Size

BEIJING, Nov 5 (Reuters) - Chinese officials on Thursday reaffirmed the country's pro-growth policy stance even though the economic recovery is gathering steam. Guo Qingping, an assistant governor of the People's Bank of China, told a financial forum that the central bank would stick to its "appropriately relaxed" monetary policy stance and ensure an appropriate amount of liquidity in the banking system. Guo's comments came a day after the Federal Reserve said it would keep borrowing costs near zero for "an extended period" even as it expressed growing confidence that the U.S. economy was regaining strength. Yao Jingyuan, the chief economist of the National Bureau of Statistics, told the Economic Information Daily that China must maintain "consistency and stability" in its macro-economic policies, at least for now. "China's economy is like a car halfway up a hill. You can't take your foot off the accelerator at the moment," Yao was quoted as saying by the Beijing paper. But he added that China did not need a second stimulus package as economic growth this year would reach at least 8 percent -- the totemic target set by the government. Guo from the PBOC said there were more and more positive economic signs.

"The momentum of stabilisation and improvement has become more clear-cut," Guo said. Looking ahead, Yuan Gangming, a researcher with the Chinese Academy of Social Sciences, told the official Xinhua news agency that China might need to raise interest rates in the second half of next year if consumer inflation exceeds 3 percent. (Reporting by Aileen Wang and Jason Subler; Editing by Alan Wheatley) ((jason.subler@thomsonreuters.com; +8610 6627 1215; Reuters Messaging: jason.subler.reuters.com@reuters.net)) Keywords: CHINA ECONOMY/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: