Beijing shifts focus to boost economic recovery

Getting better: Security guards operate near a residential area in Beijing. Amid all the hardship that the pandemic is causing, the Politburo is pushing for an improvement in the economy by focusing on the quality of growth, among other things. — AFP

BEIJING: China’s Politburo, the Communist Party’s top decision-making body, says it will seek a turnaround in the economy next year, pledging to keep fiscal policy active and monetary tools targeted and “forceful.”

Officials will “push for overall improvement of the economy” by focusing on the quality of growth and keeping the pace of expansion reasonable, the official Xinhua news agency said yesterday in a readout of the meeting. They will also seek to “significantly boost market confidence”.