Economic work conference plans 2010 strategy

Economic strategies have been laid out for the year ahead, with the conclusion of the Central Economic Work Conference here in Beijing. A general theme is staying with policies that have helped the Chinese economy rise above the global recession, but refining them to improve focus on the domestic market.

China will stick to its proactive fiscal policy and moderately easy monetary stance in 2010.

Conference delegates agreed the global economic slowdown has added urgency to China's need to adjust its economic growth model. The government will work to magnify the role of domestic demand, while reducing the country's reliance on exports and related investments. It will also encourage private investment.

In addition, the central government will continue to deepen reform and opening-up, promote innovation, and enhance the momentum of economic growth. Improving people's livelihood and boosting urbanization are also key.

Financial support will be strengthened to some sectors including agriculture, social security and energy saving. And the government will also tighten loans to high energy consuming and high polluting industries as well as those with excessive capacity.

The work conference has echoed the sentiment of a meeting by the Political Bureau of the Communist Party of China Central Committee, which was held at end November. Both meetings decided against major changes in direction, but also to improve the focus and flexibility of economic policies.