China to maintain prudent monetary policy, promises more reforms in 2013

BEIJING (AP) - China's new Communist Party leaders promised on Sunday to be ready to spend more if needed to shore up a shaky economic recovery but gave no sign of plans for major changes.

A statement quoted by the official Xinhua News Agency after an annual planning conference pledged more market-opening reforms in 2013.

The world's second-largest economy is gradually pulling out of its deepest slump since the 2008 global crisis, but weaker-than-expected November trade data prompted suggestions the rebound might be faltering.

The leadership under party General Secretary Xi Jinping pledged a "proactive fiscal policy" and "prudent monetary policy," Xinhua said, referring to willingness to boost spending if needed and keep credit easy so long as inflation stays low.