China to keep 2019 growth within reasonable range: politburo

Image
Reuters BEIJING
Last Updated : Dec 13 2018 | 3:35 PM IST

BEIJING (Reuters) - China will keep its economic growth within a reasonable range next year, striving to support jobs, trade and investment while pushing reforms and curbing risks, the country's top decision-making body of the Communist Party, the politburo, said on Thursday.

"We will promote steady growth, promote reform, adjust structure, benefit people's livelihood and prevent risks in a coordinated way, and keep economic operation in a reasonable range," the official news agency Xinhua reported, citing a politburo meeting chaired by President Xi Jinping ahead of a key economic meeting in March.

The government has recently launched a raft of measures, including cuts in reserve requirements for banks, tax cuts and more infrastructure spending, to ward off a sharp deceleration in the economy, and further steps to bolster growth are expected.

It will further stabilise employment, the financial sector, foreign trade, investment and market expectations and boost market confidence, Xinhua said.

The politburo called for greater awareness of potential problems in the economy given changes in both external and domestic conditions.

"We should strengthen coordination and cooperation, focus on major contradictions, grasp the pace and strength of the economy, and strive to achieve the best policy mix and the maximum overall effect," it said.

Top leaders are due to map out economic and reform plans for 2019 during an annual Central Economic Work Conference later this month.

China's economic growth slowed to 6.5 percent in the third quarter, the weakest since the global financial crisis, although the full-year expansion could slightly exceed the government's target of around 6.5 percent.

(Reporting by China Monitoring Desk and Kevin Yao; Editing by Jacqueline Wong)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 13 2018 | 3:25 PM IST

Next Story