China says to keep economic growth steady, make policies more effective

BEIJING (Reuters) – China will keep its economic growth within a reasonable range by making policies more flexible and effective, the state-run Xinhua news agency said on Tuesday.

The authorities will stabilize China’s employment, financial sector, foreign trade and investment, it said, citing a statement released after a meeting of the Politburo, a top decision-making body of the ruling Communist Party.

China will better balance its financial risk prevention and support for the real economy, maintaining its deleveraging drive but paying attention to its pace and intensity, it added.

It will strive to achieve its annual economic growth target, while maintaining a proactive fiscal policy and a prudent monetary policy, the agency said.

China will step up infrastructure investment in targeted areas, support innovations and lower corporate costs, it added.

The Politburo meeting, chaired by President Xi Jinping, also pledged to speed the process of establishing a long-term mechanism for the property sector, the agency said.

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