China News Agency, Beijing, December 16th. The Central Economic Work Conference will be held in Beijing from December 15th to 16th.
This must be adjusted. The 2023 China Economic Work Conference made it clear that a proactive fiscal policy and a prudent monetary policy will continue to be implemented next year.
The meeting requested that next year, we must adhere to the word stability and seek progress while maintaining stability, continue to implement a proactive fiscal policy and a prudent monetary policy, increase macro-policy regulation, strengthen coordination and cooperation of various policies, and form a joint force to promote high-quality development.
The meeting proposed that a proactive fiscal policy should be strengthened to improve efficiency.
Maintain the necessary fiscal expenditure intensity, optimize the combination of deficits, special bonds, interest discounts and other tools, and ensure fiscal sustainability and local government debt risks are controllable while effectively supporting high-quality development.
It is necessary to increase the central government's transfer payments to local governments, promote the sinking of financial resources, and do a good job in the "three guarantees" work at the grassroots level.
The meeting proposed that a prudent monetary policy should be precise and powerful.
It is necessary to maintain reasonable and sufficient liquidity, keep the growth rate of broad money supply and social financing scale basically matching the nominal economic growth rate, and guide financial institutions to increase support for small and micro enterprises, technological innovation, green development and other fields.
Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and strengthen the financial stability guarantee system.
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