China Still Staying the Course on the Economy

No policy adjustments from the latest Central Committee meeting.

China's Politburo: Economic Growth Within Target Range
"Currently, there are many difficulties…and economic growth still faces downward pressure. Some difficulties shouldn't be underestimated," the Politburo said in a statement following a Politburo meeting chaired by Communist Party chief Xi Jinping.

The Politburo also said that fiscal and monetary policies should be held steady.

It also vowed to push ahead with promised reforms in taxes, prices and the financial sector. It didn't provide fresh details on the reform plans but the ruling party has said in the past that these include making prices of scarce resources like energy, water and electricity more market-based while easing controls on domestic interest rates and replacing heavier business taxes with a value added tax.

The Chinese article has the full statement. 中央政治局:要加大对实体经济支持力度

The meeting proposed to increase efforts to support the real economy, strengthening the foundation for economic development, improve the minimum purchase price of wheat, rice and corn, etc., rapeseed temporary storage policies to accelerate the transfer payments issued to finance the center, properly regulate levels of liquidity, increase the small and micro enterprises, "three rural" and social undertakings in areas such support.

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