The Chinese authorities have developed the economic plan for the next year, which was focused on the reduction of excess capacities in the industry, reduction of loan pricing for companies, reduction of property market supply and fighting financial risks, Prime reports.
Such information has been provided by the high-ranking representative of authorities, participating in the economic conference, which ended on Monday morning. The top-ranking officials headed by the President of the People’s Republic of China Xi Jinping have participated in discussions.
Currently the country authorities face more serious than anticipated economic slowdown in view of weakness of production in processing industry and sluggish demand inside and outside the country.
“The economy will move on the way, similar to the Latin letter L, not V”, - said the official.
“The China’s economic growth is mostly throttled by the failure of supply to meet changing demand”, added the representative of authorities. – That’s why next year China will be focused on the implementation of structural reform, connected with market supply.”
According to him, next year China will follow the “soft” monetary and fiscal policies.
The details of the provided economic plan are anticipated to be informed by public state tonight.
