China says will keep policy support for economic recovery

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China will maintain policy support for its economic recovery, avoiding a sudden shift in policy, to help keep economic growth within a reasonable range in 2021, the Xinhua news agency said on Friday, after a meeting of top leaders ended.

The annual Central Economic Work Conference, a gathering of top leaders and policymakers to chart the economy’s course in 2021, is being watched by investors amid speculation that Beijing would make policy changes amid accelerating growth, following a virus-induced slump earlier this year.

China will maintain its proactive fiscal policy and make monetary policy flexible and targeted, Xinhua said, citing a statement issued after the closed-door meeting, which was held from Dec. 16 to 18.

“Next year, we should maintain continuity, stability and sustainability of macro policies. We should continue to implement a proactive fiscal policy and a prudent monetary policy, and maintain the necessary support for the economic recovery,” Xinhua said.

“Policy operations should be more accurate and effective, and there should be no sudden turn.”