China's Xi Declares ‘Critical Battle’ to Quell Financial Risks

China’s top leaders said they are taking a three-year approach to winning "critical battles" against financial risk, pollution and poverty, and signaled that monetary policy will remain "prudent and neutral" next year in support.

Economic policy makers led by President Xi Jinping agreed to "fight the battle of preventing and resolving major risks, with a focus on preventing and controlling financial risks," according to a statement following the annual Central Economic Work Conference in Beijing, released by the official Xinhua news agency late Wednesday. In the coming three years, China will seek to control financial risks and foster a "virtuous circle" between finance and the real economy, the statement said.