China still focused on reducing debt, creating jobs despite trade row with United States
Government will deepen ‘structural supply side reforms’ in second half of year, ‘firmly’ continue deleveraging
China will remain focused on reducing debt and creating jobs despite the “clear changes” in the external economic environment, the nation’s top decision making body said on Tuesday in what was most likely a reference to its ongoing trade dispute with the United States.
The statement, made on state television, came after a meeting of the Politburo, which also declared that growth was still on track.
China reported 6.8 per cent growth for the first half of 2018, but pressure on the world’s second-largest economy is growing due to its heavy debt burden and rising trade hostilities with the United States.
The government will also deepen its “structural supply side reforms” in the second half of the year and “firmly” continue deleveraging – two of the hallmarks of President Xi Jinping’s economic policy – the statement said.
