MNI BRIEF: China To Follow Same Econ Policy Path In 2021: CEWC

China's macro economic policies will remain broadly unchanged in 2021, with proactive fiscal prudent monetary policies to continue with the necessary support for the recovery and no sharp policy turns, Xinhua News Agency reported on Friday following the conclusion of the Central Economic Work Conference, the body setting the tone of economic work for next year.

Beijing will boost consumption by promoting employment as well as improving social security, optimizing income distribution structures, expand middle-income groups as ways to increase national consumption, the report said. The outstanding problem of housing in big cities should be resolved, and the principle of "housings are for living, not for speculating" must remain a priority.

Financial innovation must be subjected to macroprudential regulation, with anti-trust efforts also strengthened, along with improved regulation covering consumer data collection.

The leadership also repeated its intention to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP). The country will also improve the its regulatory ability, the national safety review mechanism, and use conventional international rules to protect national security.