China to keep economic policies accommodative in 2016: source

DEC 21, 20155:54 PM

[BEIJING] China will keep its monetary and fiscal policies accommodative in 2016, a source with the direct knowledge of the annual Central Economic Work Conference said on Monday.

The government will take steps to expand aggregate demand while pushing forward "supply-side reform" next year, said the source who briefed a small group of reporters about the top-level meeting.

The government will expand its budget deficit next year and cut tax to help reduce burdens on companies, said the source, who requested anonymity.

Steps will be taken to reduce overcapacity and property inventories, said the source.

China's top leaders have started an annual meeting to map out economic and reform plans for 2016, state media reported on Friday.

REUTERS