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MNI BRIEF: China To Ensure Reasonable Growth: Politburo

MNI (Singapore)
BEIJING (MNI)

China will strengthen policy in a bid to help the economy grow in “a reasonable range” even though employment and inflation are all under new pressure after the latest outbreak of Covid-19 and the Ukraine crisis, a China Politburo meeting, chaired by President Xi Jinping, said on Friday.

According to China Central Television, the meeting stressed the country will strive to control Covid-19, stabilise the economy and securitise development through accelerating expansionary fiscal and monetary policies. Policy will be flexible and will be added based on the needs of realising the targets, the statement noted. China has a growth target of around 5.5% this year.

Investment is the key for expanding domestic demand and infrastructure will be strongly boosted along with local authorities optimising the property market rules within the principle of a “house is for living in, not for speculating on," the meeting said.

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