Full coverage: 2016 Central Economic Work Conference

BEIJING, Dec. 16 (Xinhua) -- China's monetary policy will be kept "prudent and neutral" in 2017, said a statement issued Friday after the Central Economic Work Conference, which promised better adjustments of the monetary floodgate to ensure stable liquidity.

The policy should adapt to new changes in the use of money supply tools, and further efforts are needed for a smoother transmission mechanism of the policy, the meeting pledged.

Fiscal policies should be more proactive and effective, and budgets be planned to accommodate the need for advancing supply-side structural reforms, cutting business tax burdens and ensuring people's welfare.