China urged to fine-tune monetary policy, warns top-ranking policymaking body
Chinese President Xi Jinping. Picture: REUTERS/PEDRO NUNES
The report was the fourth from a top-ranking policymaking body in China in less than two weeks, and comes as financial markets debate how much more additional support Beijing will provide to the world’s second-largest economy after surprisingly resilient data released last week. A statement on Friday from the politburo, a top decision-making body of the Communist Party, said China will maintain policy support for the economy, which still faces “downward pressure” and difficulties despite better-than-expected first quarter growth.
Monday’s comments from the financial commission also reiterated that China will step up fiscal policy and strengthen macro counter-cyclical adjustments, a phrase that usually refers to efforts to reduce pressure on the economy.
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