BEIJING, April 27 (Xinhua) -- The following are the key takeaways of the major economic decisions announced by the Chinese authorities in the past week.
-- No beggar-thy-neighbor currency devaluation
China will not engage in beggar-thy-neighbor currency devaluation, but continue to improve the exchange rate formation mechanism of its currency, the renminbi, and keep the exchange rate generally stable on a reasonable and balanced level.
Tariff rates will be further lowered, and the imports of goods and services will be increased on a larger scale, according to a keynote speech made by Chinese President Xi Jinping at the Second Belt and Road Forum for International Cooperation in Beijing.
-- No intent to tighten or relax monetary policy
China maintains a prudent monetary policy and keeps it neither tight nor loose at the current stage, Liu Guoqiang, vice governor of the People's Bank of China (PBOC) said at at a press conference.
The PBOC's use of cash management tools such as repos and medium-term loans did not construe changes in monetary policy, he noted.
Liu's comments came after the central bank increased its open market operations recently, stoking speculations that the country may loosen its monetary policy stance.
-- Belt and Road Energy Partnership inaugurated
The Belt and Road Energy Partnership (BREP) was inaugurated Thursday in Beijing, marking strengthened cooperation of the countries participating in the Belt and Road Initiative in the energy sector.
The inauguration attracts energy ministers, ambassadors and high-level delegations in the energy sector from 30 participating countries, including Venezuela, Turkey and Iraq, and five observing countries.
According to a document released on the cooperation principles and concreate actions of the BREP, participating countries would strengthen infrastructure connectivity, enhance energy investment and promote cooperations in clean energy, energy efficiency, capacity building and personnel training.
-- Targeted efforts in need to improve weak links in building moderately prosperous society
According to the instructions of the fourth meeting of the Central Committee for Financial and Economic Affairs, China's poverty alleviation efforts should be focused on areas that are trapped in deep poverty.
On top of making sure that people in these areas are kept warm and fed, more efforts should be made to ensure that they are covered by compulsory education, basic medical care and safe housing, the meeting said.
The meeting also urged efforts to tackle prominent problems that pollute the environment in key areas, advance the work on public wellbeing by increasing input in compulsory education, basic medical care, safe housing and drinking water, as well as child and elder care.
The meeting also stressed the need to improve the subsistence allowances system, expand supply-side structural reform, make micro-entities more dynamic, and upgrade the industrial chain.
