China pledges policy support in H2 amid 'complex' economic situation

"Many problems facing China are expected to exist for the medium- to long-term. (We) must have the mindset to fight a long-term battle," it added

China will ensure policy support for the economy in the second half, in the face of a "severe and complex" economic situation, a top decision-making body of the ruling Communist Party said on Thursday.

China's monetary policy will be more flexible and targeted and its fiscal policy will be more proactive, state media reported after a Politburo meeting chaired by President Xi Jinping.

A stronger-than-expected rebound in activity in the second quarter has reduced the urgency for further action from the People's Bank of China (PBOC) following unprecedented emergency measures early in the year.

But, as measures remain in place