{"id":6824,"date":"2010-12-03T02:12:24","date_gmt":"2010-12-03T02:12:24","guid":{"rendered":""},"modified":"2010-12-03T02:12:34","modified_gmt":"2010-12-03T02:12:34","slug":"China-says-it-will-tighten-monetary-policy-in-2011","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=6824","title":{"rendered":"China says it will tighten monetary policy in 2011"},"content":{"rendered":"

China’s leadership calls for tighter monetary policy in 2011 as Beijing fights inflation <\/strong><\/p>\n

China’s leadership ordered a shift from easy credit to a “prudent monetary policy” on Friday as Beijing steps up its fight against inflation and tries to category_ide rapid growth to a sustainable level.<\/p>\n

The ruling Communist Party’s top body, the Politburo, decided to “implement an active fiscal policy and a prudent monetary policy” in 2011, said a Cabinet statement.<\/p>\n

The government is trying to cool inflation that spiked to 4.4 percent in October — well above the official 3 percent target — driven by a 10.1 percent jump in food costs. Analysts say November inflation might rise still higher.
\n<\/strong><\/p>\n

Chinese regulators also have reined in credit by forcing banks to hold back more money as reserves and tighten lending standards.<\/p>\n

Economic growth eased to 9.6 percent in the three months ending in September after hitting a post-crisis peak of 11.9 percent in the first quarter. The World Bank and private sector economists expect full-year growth of up to 10 percent.<\/p>\n

<\/strong>
\nSOURCE<\/a>
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