TO THE POINT: China"s Central Economic WorkConference was held on December 3-5, raising eightmajor tasks for the country. It stated that the decade-long prudent monetary policy will be replaced by atighter one as of 2008. China and India vowed towork closely on their financial markets to safeguardthe development of the two largest developing coun-tries. At the same time, Chinese stocks showed signsof recovery. The government strove to lower foodprices by auctioning off national food reserves. Itpromised subsidies to oil companies if they keepdomestic oil supplies stable. Computer giant Lenovowill stop sponsoring the Olympic Games after 2008.

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