China’s leadership has vowed to stabilise the economy and society, as the country is now at a critical stage in handling the unprecedented trade war with the United States.
In an economic-analysis meeting on Friday, the 24-man Politburo, a prime decision-making body headed by President Xi Jinping, said authorities would roll out specific plans to support companies and individuals affected by the trade war.
They pledge to “coordinate domestic economic work with international economic and trade engagements, resolutely focus on doing our own affairs, steadfastly expand high-level opening up, and focus on stabilising employment, businesses, markets, and expectations”, according to a meeting readout released by Xinhua.
“By enhancing the certainty of high-quality development, we can effectively respond to the uncertainties brought by drastic changes in the external environment,” it said.
To boost the role of domestic consumption in driving economic growth, Beijing will strive to increase the income of the lower- and middle-income groups while vigorously developing service consumption, the authorities said.
Restrictive measures in the consumption sector should be promptly removed, they added.
