China’s Politburo pledges support, sending stronger-than-expected signal to boost economy

China has vowed to step up macro policies and stabilise market confidence to ensure it achieves leaderships’ full-year economic growth goal as the economy faces “increasing negative influence” from the outside world and insufficient demand at home.

The top leadership signalled more support for emerging sectors, vowed to unleash more domestic demand, and warned against “vicious competition” among local companies, according to a meeting on Tuesday of the Chinese Communist Party’s 24-member Politburo, the party’s top decision-making body led by President Xi Jinping.