| Follow us on:
|
![Chinese Premier Li Keqiang addresses the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from December 14 to 16 [Xinhua]](http://thebricspost.com/wp-content/uploads/2016/12/261531443_8-e1481904949827.jpg)
Chinese Premier Li Keqiang addresses the Central Economic Work Conference in Beijing, capital of China. The conference was held in Beijing from December 14 to 16 [Xinhua]
Delegates to the meeting discussed how to endorse reforms in key structures, such as state-owned companies, and promoting financial and social security under the banner of “seeking progress while maintaining stability”.
The conference also heard concerns about the specter of continuing rising debt weighed against inflated heavy industry.
In urging supply-side structural reforms in the agriculture sector, Chinese leaders are hoping to maintain their 6.5-7 per cent target GDP growth.
In 2016, GDP growth stood at 6.7 per cent, but global analysts expect that to drop to 6.6 per cent in 2017.
A statement released at the conclusion of the two-day conference said that “monetary policymaking should adapt to changes in the use of money supply tools, and further efforts are needed for smoother transmission of policy”.,
China will keep the yuan stable, while improving the flexibility of exchange rates, the statement added.
This year’s Central Economic Work Conference falls between 2016’s 18th Central Committee of the Communist Party of China’s (CPC) sixth plenary session and 2017’s 19th CPC National Congress, when a new central committee will be elected.
The CPC has tried to reshift priorities away from the traditional bastions of the economy – manufacturing, exports and government spending – to focus on domestic consumption and services.
The BRICS Post with inputs from Agencies
