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China Should Fine-Tune Policy Early as Q1: Wen

  

 BloombergChina’s exports and imports fell for the first time in two years in January and new lending last month was the lowest for a January in five years, government reports showed last week, adding to signs growth is weakening.


Overseas shipments fell 0.5 percent and imports declined a more-than-forecast 15.3 percent from a year earlier in a month that had four fewer working days than January 2011 because of the Chinese New Year holiday, the customs bureau said Feb. 10. Banks extended a lower-than-estimated 738.1 billion yuan ($117 billion) of new yuan-denominated loans last month.

 

China won’t waver on its real-estate curbs, which aim to bring home prices to a “reasonable level,” Wen said without elaborating. Although market mechanisms should play a fundamental role in the property market, the government will maintain restrictions to ensure fairness and stability, he said.

 

The eastern city of Wuhu yesterday said it would suspend a decision to ease property curbs, three days after its announcement. The People’s Bank of China last week pledged to ensure first-home buyers could get loans as a crackdown on speculation threatens to trigger a slump in the property market.

 

To cope with economic hardships this year, the government will “offer support to the real economy,” especially the development of small and micro companies, Wen said, according to the Xinhua report. It will also relax restrictions on private capital and support private enterprises, Wen said.

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