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People's Daily Online>>China Business

No big economic moves expected from conference

By Feng Jianmin (Shanghai Daily)

13:56, January 07, 2012

Market-oriented reforms on currency exchange and interest rates are projected to be the key topics of discussion during the two-day National Financial Work Conference that wraps up today.

But economists said they were not expecting drastic reforms at a time when policy stability and continuity prioritize policy-makers' agenda. They said that incremental measures may follow the conference to improve risk-control measures and the bond market.

"Market-oriented reforms will likely top the country's unfinished agenda, given an efficient allocation of financial resources is becoming increasingly vital to the economy," Citibank wrote in a note.

No solid steps

Though the discussion of interest rate liberalization has been put forward by the central bank for several years, no solid steps have been taken due to immature domestic financial markets and regulatory systems. Some economists also hold that liberalization will not occur until the government's economic policies and measures comply with market rules.

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