BEIJING, March 27 China's government said on
Wednesday it would unveil new measures to further liberalise
interest rate and exchange rate markets this year to stabilise
and sustain economic growth.
The remarks contained few details, but reinforce Beijing's
intention to speed up financial liberalisation and support
China will also devise plans to reform its fiscal system and
deepen its capital markets, the State Council -- China's cabinet
-- said after a meeting chaired by Premier Li Keqiang.
"We are facing more uncertainties and unstable factors in
domestic and external environments," the cabinet said in a
statement on its website.
China would continue to control its property market to slow
gains in record prices while developing a long-term model for
the market that encourages stable and healthy growth, the
It also said the government would relax restrictions on
private investment, but did not name the relevant sectors.
Faced with what many analysts say is a chronic slowdown in
its maturing economy, many top leaders have promised in recent
months to confront difficulties and bring about politically
difficult economic changes.
Reforms high on the government's agenda include freeing the
capital account, which remains tightly controlled and allowing
easier access to the tightly managed yuan.
(Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Ron