China to step up fiscal support

The monetary policy should be flexible, appropriate, targeted and effective, a statement said. — Reuters

Beijing: China’s Politburo, comprising the top 24 leaders of the Communist Party, pledged to strengthen the government’s fiscal measures and make monetary policy more effective, bolstering efforts to stabilise growth.

The meeting, chaired by President Xi Jinping, said the fiscal policy will be stepped up “appropriately”, Xinhua reported yesterday. Meanwhile, the monetary policy should be flexible, appropriate, targeted and effective, with the previous wording “forceful” dropped from the statement.