China plans to take a more prudent stance on monetary policy

The hammer and sickle as it appears on the Com...Image via Wikipedia
The Political Bureau of the Communist Party of China Central Committee said the country's monetary policy will go from being relatively loose to more prudent in 2011. Macro-regulation needs to be "more targeted, flexible and effective," the committee said in a statement. "The conditions in China provide a sound base for stable and fast growth next year, but the country will face many difficulties and challenges," it said.

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