China to 'properly fine tune macro policy'

Updated: 2011-10-29 22:10


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BEIJING - China will make proper fine tuning on its macro policy, keeping it "more targeted, flexible and forward-looking," and continue measures to control consumer prices, China's State Council, or Cabinet, said Saturday.

The government should maintain control of the intensity, pace and focus of economic regulation and grasp the changes in economic development trend, according to a statement released after a State Council executive meeting chaired by Premier Wen Jiabao.

China's economy has maintained a stable and rapid development this year, with domestic and external demand more balanced and inflation initially under control, it said.

But faced with new problems in the complicated global and domestic economic conditions, Chinese policymakers should keep clear-minded and get fully prepared for next year, said the statement.

China should take pre-measures or fine tune its macro economic regulation at a proper time and at a proper degree, it said.

Strong measures should be continued to keep consumer prices stable, and price subsidies should go to the needy timely with a moderate increase.

The government will unswervingly continue its property market tightening measures for the rest of this year, said the State Council, urging local governments to strictly carry out the existing policies.

The government will also provide active support to small and micro-sized enterprises which are scientifically innovative and can help employment, according to the statement.