By South China Morning Post | Created at 2024-09-26 06:03:08 | Updated at 2024-09-30 15:25:26
4 days ago
China has vowed to save the private economy, stabilise its property sector from further slumping and ensure necessary fiscal expenditures, according to the readout from a Politburo meeting on Thursday.
“It is necessary to help enterprises tide over difficulties,” said the readout, which was released just after 1pm.
The top decision-making meeting, which was chaired by President Xi Jinping, came after financial authorities rolled out a raft of stimulus measures on Tuesday.
“It is necessary to look at the current economic situation comprehensively, objectively and calmly,” the readout said. “Face up to difficulties, strengthen confidence, and effectively enhance the sense of responsibility and urgency to do a good job in economic work.”
At the meeting, Xi also warned against inertia among cadres in striving for economic growth. “The vast number of party members and cadres must have the courage to take responsibility and dare to innovate,” the readout said.
