BEIJING: China will ratchet up efforts to quell inflation in 2011 while maintaining robust economic growth, state media reported on Sunday, citing a statement from an annual top-level economic conference.
"The priority is to actively and properly handle the relations between maintaining steady and relatively fast economic growth, economic restructuring and managing inflation expectations," state radio reported.
"Strategic economic restructuring will be accelerated and stabilising price levels will be given a more prominent position."
China's inflation soared past forecasts to a 28-month high in November and showed signs of spreading beyond food prices, putting pressure on the government to tighten policy.
On Friday, the day before the inflation data was released, the central bank raised banks' reserve requirements for the third time in a month to mop up excess cash in the economy. The jump in inflation suggested that more resolute action was needed.
The annual meeting, chaired by President Hu Jintao and attended by top officials from central and provincial governments, reaffirmed a shift to a "prudent" monetary policy from the previous "appropriately loose" stance. The shift was announced by the Communist Party's ruling body last week.
The change in wording was seen as a clear shift in the balance of policy-setting towards curbing inflation, paving the way for a more aggressive course of interest rate increases and lending restrictions.
