China Pledges to Stick to ‘Moderately Loose’ Policy

From Bloomberg:

Chinese Premier and the Communist Party’s Politburo pledged to maintain a “moderately loose” monetary policy, countering speculation that surging and asset prices will trigger a tightening.

The Politburo, the party’s top decision making body, said current policies will continue, state television reported today. The economy is in a crucial phase and shows “positive signs,” Wen said in a report by the state-owned Xinhua News Agency, posted on a site.

China’s new loans more than tripled to $1 trillion in the first half from a year earlier, helping to drive a 95 percent gain in the Shanghai Composite Index from last year’s low in November. The government is balancing the need to create jobs and stoke economic growth after a slump in export demand against the risk of bubbles in stocks and property.

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