China vows to continue prudent monetary policy

China said Wednesday it will continue to implement a prudent monetary policy in order to control the country's high inflationary pressure, as Yonhap reported. "In light of the contradictions that we are facing during economic development, we need to keep carrying out positive fiscal and prudent monetary policies. We need to ensure the continuity and stability of our macro-economic policies," Chinese Premier Wen Jiabao said in a televised speech at the opening of the World Economic Forum's annual meeting in the Chinese city of Dalian. "We need to maintain the general stability of price levels and prevent economic upheaval to fully achieve this year's economic and social development goals."