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3. Adopt a prudent and neutral monetary policy and a proactive fiscal policy

"Prudent monetary policy should be kept neutral, the floodgates of monetary supply should be controlled, and credit and social financing should see reasonable growth," read the statement from the Central Economic Work Conference. "Meanwhile, the proactive orientation of fiscal policy will be maintained, while the structure of fiscal spending should be optimized."

The exchange rate of renminbi will keep "basically stable at a reasonable equilibrium level". And concrete measures will be taken to strengthen the regulation of local government debt.

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