China’s Politburo stresses steady course for economic growth
The government will press on with its proactive fiscal policy and focus on supply-side reforms, top decision-making body says
The mainland will work to keep its economic growth within a reasonable range this year, the top decision-making Politburo said on Monday after a meeting chaired by President Xi Jinping.
The government would continue its proactive fiscal policy and prudent monetary policy, state-run broadcaster CCTV quoted a Politburo statement as saying.
The government will also “work to strengthen supply-side structural reform” to nurture new driving forces for growth. An earlier Politburo meeting said supply-side reform could become a distinctive feature of the country’s economic and social policies for this year and beyond.
The Politburo said the government would work to revive and promote China’s traditional “comparative advantages”, a reference to the mainland’s labour-intensive and export-oriented manufacturing industries.
Monday’s Politburo meeting discussed and approved Premier Li Keqiang’s government work report, a state-of-the-union-style address to be delivered at the upcoming annual session of the National People’s Congress.
This year’s annual session of the national legislature will also officially rubber-stamp the 13th five-year plan beginning this year. The session will open on March 5.
