Economics
China’s Politburo Signals No Big Stimulus Despite Slowdown
- Top leaders suggest flexibility on annual growth target
- Local governments responsible for housing project delivery
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China’s top leadership gave a downbeat assessment of economic growth but didn’t announce new stimulus policies at a key meeting, calling on officials to ensure that housing projects are completed following a wave of mortgage boycotts.
The country should achieve “the best outcome” possible for economic growth this year while sticking to a strict Covid Zero policy, according to a statement after a meeting of the Politburo, which is the Communist Party’s top decision-making body. The leadership urged efforts be made to stabilize employment and prices to keep the economy running in a “reasonable range.”