China to keep monetary policy & yuan stable in 04

China's Premier Wen Jiabao will tell parliament on Friday 5 March that hina will retain stable monetary policy and proactive fiscal policy in 2004, but aims to pare down lending to duplicate projects to curb over-investment.

China would keep the yuan currency "basically stable at the rational and balanced level" this year, Wen said in a report to be delivered to the annual session of parliament, reaffirming a pledge despite U.S. calls for a revaluation.

Wen called for banks to "appropriately co

To continue reading...