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Chinese Leaders Pledge to Keep Growing Economy Under Control


Chinese leaders have completed an annual economic meeting with pledges to maintain stable fiscal policies to keep their rapidly-growing economy under control.

State media reported Sunday that Communist Party officials plan to tighten controls on fixed-asset investments, such as real estate, and try to increase agricultural output in the coming years. They are concerned that without proper management, China's fast-growing economy could suddenly collapse.

The report did not mention any changes in the fixed exchange rate for China's currency, the yuan. The United States has been pressuring China to lift controls on the exchange rate, saying it gives Chinese goods an unfair advantage in world markets. Beijing has promised to change the policy but has not said when it will do so.

Some information for this story provided by AP and AFP.

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