China will step up support for the economy with prudent monetary and proactive fiscal policies, including interest rates and bank reserve requirement ratios. — Reuters file picBEIJING, April 30 — China will step up support for the economy with prudent monetary and proactive fiscal policies, including interest rates and bank reserve requirement ratios , the Politburo of the Communist Party was quoted by state media as saying today.
“At the same time, it must be noted that China’s economic foundation is stable, with many advantages, strong resilience, and great potential,” it said.China has set an economic growth target for 2024 of around 5 per cent, which many analysts say will be a challenge to achieve without much more stimulus.
“The meeting hints that there might be cuts in interest rates and RRR in the second quarter,” said Xing Zhaopeng, senior China strategist at ANZ. “Reform and opening up is an important tool for the party and the people’s cause to catch up with the times with great strides,” Xinhua quoted the Politburo as saying.
China Communist Party
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