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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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WATCH: Deutsche Bank MD & Head of Greater China Macro Strategy Linan Liu thinks China’s economic recovery is not on a strong footing yet.Source: Bloomberg
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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.”