China will take more proactive measures to support the economy as it faces downward pressure, a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee said on Wednesday.
The Political Bureau of the CPC Central Committee held a meeting Wednesday to analyze the current economic situation and arrange the country’s economic work.
The meeting, presided over by Xi Jinping, general secretary of the CPC Central Committee, said that China has achieved sustained and healthy economic and social development this year.
In the first three quarters, the country achieved overall economic stability with steady progress, and the economic performance was kept within a proper range, according to a statement issued after the meeting.
China’s economy still faces downward pressure, as some enterprises have been dealing with difficulties in their operations, according to the meeting.
The meeting also called for predictive measures to address growing hidden risks.
While policymakers showed growing concerns over the downward pressure, the government priority is to make sure that economic growth is sound and stable, Li Qilin, macroeconomic analyst at Lianxun Securities, was quoted as saying in media reports on Wednesday.
The government will pursue active and stable monetary policies, and attaches great importance to high-quality growth, according to the meeting.
“Growing too fast might have generated problems in terms of the environment, resources and benefit allocation, so the government has taken active measures to adjust growth,” said Cao Heping, a professor at Peking University.
(In Association with Global Times, China)