The three-day Central Economic Conference, which opens on Dec. 10， has set the tone for the country’s future economic development in 2011, with prudence a primary policy while controlling prices a major task.
New loans totaled 564 billion yuan in November, central bank data showed on Friday, down slightly from 587.7 billion in October.
China’s state-owned asset watchdog recently denied a report that the 78 SOES delayed their move to withdraw from the red-hot real estate sector as requested by central government early in March.
China will soon launch a long-waited property tax, most probably before the annual meeting of congress in March.
China’s economy is expected to grow at an annual rate of 10 percent year-on-year in 2010, accompanied with 3.3 percent in CPI growth.
Only seven SOEs have sold their stake in less than 20 property firms after the government ordered 78 SOEs with no core businesses in the real estate industry to hand in a withdrawal proposal in March.
China’s future economic growth is likely to decline to 7 to 9 percent from 10 percent now on dampened Total Factor Productivity.
China’s economy will grow at 8.9 percent in 2011, compared with a grim outlook for global economy, according to a UN report.
China’s economy is likely to grow at a slower pace of 9 percent next year, as the role of net exports to drive GDP weakens due to sluggish overseas market demand.
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