Special Report: Central Economic Work Conference |
The central bank, stock and forex regulators are following-up on decisions reached at the Central Economic Work Conference which wrapped up here in Beijing on Monday. Let's take a look at what each plans to do in the year ahead.
PBOC: Continue appropriately loose policy in 2010
China's central bank will maintain credit expansion at a reasonable pace in 2010 to support recovery. This should ensure steady and fast economic growth by supporting emerging sectors and the creation of more jobs. The bank will further boost financial reform, risk control, and support to rural and agricultural sectors, as well as improve the international balance of payments.
CBRC: Optimize credit lending to avoid risks
China's banking regulator is requiring the banking sector to boost credit structures and improve loan quality in 2010. It's aiming to speed up economic restructuring and growth transformation. the China Banking Regulatory Commission says lenders should strengthen credit support to SMEs, rural regions and agricultural sectors. But it's urging tight control for loans to polluting and high energy consuming industries.
CSRC: Boost supervision & product innovation
The China Securities Regulatory Commission will further improve supervision and step up efforts to maintain the stability of the capital market in 2010. It will deepen reforms and product innovation in various fields and improve the market system to facilitate economic growth. The commission will continue to push for healthy development in the market.
SAFE: Improve forex assets management
China's forex regulator will further improve management of the country's 2.3 trillion US dollars in reserves to ensure its safety, liquidity, and profitability next year. It will keep an eye on cross-border capital flow, and closely watch the development of the global financial crisis. The State Administration of Foreign Exchange will look for opportunities to push forward reforms in key areas.
CCTV Insight:
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China decides on 2010 economic policies
Editor: Xiong Qu | Source: CCTV.com