Xi pledges easier monetary policy for China economy

The central bank will free up part of the reserves of some commercial lenders to unleash long-term funding to the economy. Fiscal policy will be more proactive, while construction projects will be accelerated, according to a statement issued after a Politburo meeting chaired by President Xi Jinping. - China Daily/ANN

BEIJING: China’s top leaders said they will exercise more flexibility in monetary and fiscal policy, signalling a greater focus on reviving an economy pummelled by the virus outbreak.

Fiscal policy will be more proactive, while construction projects will be accelerated, according to a statement issued after a Politburo meeting chaired by President Xi Jinping on Friday.