CX Briefing: Politburo Vows More Economic Support

A rundown of the news making headlines in and around China:

Beijing’s economic support: China’s top leadership has vowed to roll out more support for the country’s economy as the impact of external shocks has increased. The meeting of the Politburo, chaired by President Xi Jinping, said that the foundation of China’s economic recovery needs to be enhanced and requires a “proactive” policy stance, including lower interest rates, a more active fiscal policy and support for technological innovation and grassroots consumption. It also called for more efforts to defuse internal risks from local government debt and the property market.