China’s Annual Economic Policy Meeting Concludes With No Surprises

The annual three-day high-level economic policy meeting, the Central Economic Work Conference, is over. No word of any policy shifts, at least on the basis of Xinhua‘s reporting.

Economic policy in 2009 will be aimed at maintaining stable growth in the face of the global slowdown through stimulating domestic demand and economic restructuring. Job provision and rural well-being will be the focus of the stimulus package to ensure social stability. Fiscal policy will be active, suggesting there may be something to reports of income and business tax cuts to come. Monetary policy will be “moderately easy”.

All that could have been written ahead of he meeting. The only thing really to catch this Bystander’s eye were comments suggesting that the yuan’s little burst of devaluation might be done but that the currency wouldn’t be allowed to appreciate much, if at all.

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