China pursues proactive fiscal policy

China will continue to pursue a proactive fiscal policy and prudent monetary policy, President Hu Jintao said on June 18, stressing that China's economy as a whole has seen stable growth.

Hu said China has continued to strengthen and improve macroeconomic regulations.

He also said that the country has worked hard to stabilize growth, control price rises, adjust the economic structure, and improve people's well being.

Yet he also cautioned that the lack of adequate balance, coordination and sustainability remains a serious problem in the economy.

Hu said that the country will focus on scientific development and accelerate the shift of the growth model.

In particular, Hu said China will continue to pursue a proactive fiscal policy and prudent monetary policy, maintain the continuity and stability of the macroeconomic policy, and make macro-regulation more targeted, flexible and forward-looking.

"We will keep the right balance between maintaining steady and fairly fast growth, adjusting the economic structure and managing inflation expectations," Hu said.