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China pledged it would maintain "prudent" monetary, "proactive" fiscal policies in 2012, adding it would ensure house prices "return to a reasonable level," the official Xinhua news agency said after a top economic policy-setting conference closed its annual meeting on Wednesday. Analysts also said investors were worried about market liquidity as funds have been diverted to several IPO subscriptions, such as New China Life Insurance. The benchmark Shanghai Composite Index finished down at 2,228.5 points, after falling 1.9 percent on Tuesday.