Saturday, December 22, 2012

2013 Framework for Chinese Entrepreneurs

After the close of the annual Central Economic Work Conference, which Xi Jinping presided over, China's new leaders sent their strongest signal yet that their top economic priority is to remake the economy so it relies more on domestic demand and less on exports and investment in capital-intensive state-owned companies, even if that reduces short-term growth.

China will continue to implement the pro-active fiscal policy and prudent monetary policy in 2013.The proactive fiscal policy will be combined with tax reforms and structural tax cuts and the prudent monetary policy will pay attention to dynamism and enhance operational flexibility.

The government will maintain property controls, including restrictions on how many homes individuals can buy, which have been in place since 2009, to ward off potential risks, and will make greater efforts to improve the quality of urbanization to help bolster domestic demand.

In 2013, China will stabilize its exports while boosting imports to gradually balance the country's international payments and expanding its outbound investments.

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