SHANGHAI: China will "unswervingly" maintain its property curbs for the rest of this year as it fine-tunes macroeconomic policy, China's State Council, or Cabinet, said last Saturday, Oct 29.

Macro policy will be adjusted to keep it "more targeted, flexible and forward-looking," and measures to control consumer prices will continue, it said in a statement released after a State Council executive meeting chaired by Premier Wen Jiabao.

The government should maintain control of the intensity, pace and focus of economic regulation and grasp the changes in economic development trends, the statement said.

The State Council urged local governments to strictly carry out existing policies.

Wen said earlier this week the government would fine-tune its economic policies as needed, without elaborating whether that would include the real estate market. The remarks sparked the biggest weekly rise of Chinese stocks in more than a year.

Wen said then that while inflation remains the top priority for Beijing, it will also "fine-tune" policy if necessary. Market watchers took his comment to mean the government could begin easing its tough monetary policy in the fourth quarter. — Reuters

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