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MNI BRIEF: China Continues Policy Support For "Best" Growth

MNI (Singapore)

China will strive to achieve the “best result” for GDP growth, focusing on stabilizing employment and prices to keep the economy operating within a reasonable range, although still observing a zero-Covid strategy, state media Xinhua News Agency reported following the Politburo meeting on Thursday.

The People’s Bank of China should keep liquidity ample and push policy banks to launch new credit lines and investment funds for infrastructure construction, while fiscal policy should effectively make up for insufficient demand, including making good use of local government special bonds, the meeting said. SEE: MNI: China Politburo Likely To Focus On Economic Boost In H2

Local governments should make full use of the policy toolbox to stabilize property markets by supporting home purchase demand, and ensuring the delivery of housing projects, the meeting said. While regulators will normalize supervision of Internet platforms and launch a batch of "green light" investment cases. The meeting also emphasized sticking to the dynamic zero-Covid policy to control any pandemic outbreaks immediately.

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