World Economy

China Unveils Economic Priorities

China Unveils Economic PrioritiesChina Unveils Economic Priorities

An important politburo meeting of the Communist Party of China was held on Thursday on an economic blueprint for China. The meeting stressed that economic growth in the first quarter was in line with expectations, and a new growth impetus had emerged despite relatively heavy downward pressure, Xinhua reported. A statement after the meeting said China will step up targeted control measures, and timely pre-tune and fine-tune policies to combat the downward pressure. The meeting pledged to maintain the continuity and stability of macro policies, and quicken the pace of reform and opening-up for sustainable development. It also said that China will stick to its proactive fiscal policy, with increased public spending, and its prudent monetary policy, with a focus on guiding money flow to the real economy. It also reiterated that the opening-up and foreign investment policies will remain unchanged.