China's Politburo calls for ‘stepped up' economic policy support
After a meeting of the 24-member Politburo – a major decision-making body of the ruling Communist Party led by President Xi Jinping – that ended on Wednesday, the party's upper echelon issued a statement encouraging action to support the economy.
'Macro policies must continue to exert strength and be stepped up when appropriate,' according to a readout released by state news agency Xinhua.
The Politburo said it would also 'stabilise the fundamentals of foreign trade and investment' and support firms hit hard by recent shocks to the global economy.
On the same day, Xi held a symposium on the economy with prominent figures from outside the party, stressing the need for stability and calling for efforts to boost consumption and break free from destructive intra-industrial competition – reiterating the sentiments in the Politburo's statement.
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