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Xinhua: China to Pursue Development While Maintaining Stability

For the Communist Party, the key word for the Chinese economy in 2012 appears to be “stability.” A Xinhua commentary echoed the theme of stability that was the focus of the recent Central Committee Working Meeting on the Economy. “Stability is the foundation of progress and has four key elements: maintaining the stability of macro-economic policy, the steady development of the economy, the stability of the general price level, and overall social stability.” Specifically, the commentary added, prudent monetary policy is expected and the steady development of the economy will hinge on the expansion of domestic demand, i.e., consumer demand.

Source: Xinhua, December 14, 2011