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Will fine-tune policies to combat downward pressure: China politburo
April 30, 2015, 9:33 am

Chinese leaders, while emphasizing the need for slower but better-quality growth, have made clear they would not tolerate widespread job losses, a danger that is stalled for now with strong employment figures [Xinhua]

Chinese leaders, while emphasizing the need for slower but better-quality growth, have made clear they would not tolerate widespread job losses, a danger that is stalled for now with strong employment figures [Xinhua]

As Beijing attempts to find the right policy mix to shore up economic activity, a policy meet of the Communist Party on Thursday endorsed targeted control measures.

“The top leadership on Thursday said that China’s economic growth in the first quarter was conforming to expectations amid downward pressure on the economy, pledging to maintain continuity and stability of macro policies to ensure growth stay within a proper range,” Chinese news agency Xinhua quoted an official statement at the end of the meeting.

“There appeared new growth impetus in the Chinese economy in the first quarter,” it added.

The Politburo, a decision-making body of the ruling Chinese Communist Party, met under President Xi Jinping, on Thursday in Beijing. Chinese leaders have repeatedly emphasized the need for slower but better-quality growth.

“China will step up targeted control measures, and timely pre-tune and fine-tune policies to combat the downward pressure,” the Politburo statement noted.

China’s gross domestic product (GDP) grew an annual 7.0 per cent in the first quarter, slowing from 7.3 per cent in the fourth quarter of 2014.

Chinese leaders, while emphasizing the need for slower but better-quality growth, have made clear they would not tolerate widespread job losses, a danger that is stalled for now with strong employment figures.

China’s urban unemployment rate stood at 4.05 per cent at the end of March, little changed from 4.1 per cent at the end of 2014.

 

TBP and Agencies

2 Responses to Will fine-tune policies to combat downward pressure: China politburo

  1. robert pearce Reply

    April 30, 2015 at 6:40 pm

    The Chinese economy has become the 2nd largest in the WORLD.

  2. Eraldo Marcelo Kopp Reply

    May 1, 2015 at 1:34 am

    Truly most people are waiting for the new investment e trade of China. The eager audience is a step closer of finding a way to regulate the virtual coins, but if the labor in GB wins it may not do it. The western market gamble is going on and on but as people are more aware of the dangers of the economy, the choices are clearly coming towards a China Lease of the investment etrade market for specific reasons. There are signs backing this up such as the insurance of most Chinese industries for the purposes of electronic trade. This might take awhile yet due to the USD widely used on the Pacific but it is a volcano with a rock on top of it and the top can not hold for much longer…

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