China’s top leaders have pledged to “adjust and optimize policies in a timely manner” for the beleaguered real estate sector.
China’s leading leaders have pledged to “timely adjust and optimize policies” for the beleaguered real estate sector, while raising stable employment to a strategic goal, among other commitments to boost domestic consumption demand and address domestic debt risks.
According to a statement released late Monday at the Politburo’s quarterly meeting, the Communist Party’s top decision-making body, headed by President Xi Jinping, said it would implement an “anti-cyclical” policy and adhere to a largely prudent monetary policy and proactive fiscal policy.
The Politburo meeting in July sets the tone for China’s economic policies for the second half of the year, and market watchers expect more robust guidance on policy support for faltering growth in the world’s second-largest economy.
“Currently, the economy is facing new challenges mainly due to insufficient domestic demand, difficulties in the functioning of some businesses, a large number of risks and hidden dangers in key areas, and a brutal and complex external environment,” Shinhua said in a statement from the Politburo.