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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China leaders to table 2009 macro economic policy AFP - 20 minutes ago BEIJING (AFP) - - China's top leaders were expected Wednesday to decide on fiscal and monetary policies for 2009 that would focus on stimulating demand and creating jobs to ward off the global economic crisis, analysts said. The annual Central Economic Work Conference, chaired by President Hu Jintao and Prime Minister Wen Jiabao, will end its three-day meeting later Wednesday with a macro-economic policy blueprint for next year. "The meeting will stress the importance of maintaining high growth levels, stimulating domestic demand and adjusting the structure of economic growth," Chang Xiuze, an economist with the National Development Reform Commission, China's planning agency, said in comments posted on government websites. "The central government hopes to stimulate consumer spending by raising incomes, improving the social security system and stabilising liquidity." No specific policy measures are expected to be announced Wednesday, but a macro-economic policy blueprint will be tabled to the nation's parliament for debate and approval by early March, he said. "The fundamental problem facing China's leaders is income distribution which is resulting in a surplus in industrial goods and property ... as the global economy slows down," Andy Xie, an independent economist in Shanghai, told AFP. "What China needs are strong capital measures that can make industrial goods and property affordable to people, and structural reforms that will move China away from its dependency on exports and to a more sustainable growth path." Leaders were also expected to discuss a proposal by the finance ministry to let the 2009 fiscal deficit swell to 280 billion yuan (40.7 billion dollars), up 56 percent from this year, to help maintain growth, media reports said. In the past few months Beijing has already introduced a series of monetary and fiscal policies aimed at blunting the impact of the global meltdown , including a four-billion-yuan spending package and steep interest rate cuts. "The framework of polices has already been set. (The conference) will elaborate on the details and make improvements to measures that were introduced in a rush," Yi Xianrong, a researcher at the Chinese Academy of Social Sciences, told AFP. Foreign direct investment in China rose 26.3 percent in the first eleven months of the year compared with the same period last year, the government said Wednesday. Foreign companies invested 86.4 billion dollars in the country in the period from January to November, the commerce ministry said in a statement. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China leaders to table 2009 macro economic policyAFP - 20 minutes ago Ford says no comment on reported Volvo sale to ChanganReuters - 1 hour 14 minutes ago Australian consumer sentiment jumps, survey showsAFP - 1 hour 45 minutes ago TSMC Nov sales down 36 pct y/y in chip downturnReuters - 2 hours 2 minutes ago Related Articles: Business China leaders to table 2009 macro economic policyAFP - 20 minutes ago China Eastern to unveil government aid package - sourceReuters - 25 minutes ago Highland Gold postpones start of new Russian mineReuters - 27 minutes ago Emerging debt-Asian spreads widen as risk aversion lingersReuters - 27 minutes ago Europe stock index futures up, track Asian marketReuters - 28 minutes ago Enlarge Photo China leaders to table 2009 macro economic policy Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed New recession warnings hit leading economies Muslim pilgrims stone Satan at the hajj Dow Chemical to cut 5,000 jobs, close 20 facilities Stocks take flight on prospects for anti-recession moves Military jet crashes in California suburb, three dead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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