China gave no sign on Friday that it was planning an early exit from its stimulus policies, pledging to stick with a pro-growth stance in 2010 to cushion the fallout of the global financial crisis. A meeting of the ruling Communist Party reaffirmed the relatively loose monetary setting and active fiscal policy that China adopted a year ago as the crisis reached its peak, but said there was a need to implement policy flexibly.
The party's decision-making Politburo pledged to make growth more stable, more sustainable and more balanced, the official Xinhua news agency reported. To that end, China would promote sustainable domestic demand, especially consumption and private investment, increase imports and encourage companies to invest abroad, according to the website of CCTV, the main state television channel. Premier Wen Jiabao has consistently lamented the lop-sided, unsustainable nature of China's growth, which is driven by investment, heavy industry and exports.
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