China Central Political Bureau (Politburo) held a meeting on economic policies for the second half of the year, including an overseas listing system.
China top leadership has decided to improve the supervision system for foreign listing businesses. In addition, it reaffirmed that it would continue to maintain a moderate monetary policy in the second half of the year. Further, the Council decided to continue to support the recovery of small and medium-sized enterprises (SMEs) that are suffering from the rise in international commodity prices.
Chinese President Xi Jinping presided over a meeting of the Central Politburo of the Communist Party of China on the 30th to analyze and check the economic situation and prepare economic plans for the second half of the year, state news agency Xinhua reported.
In a statement published on 31, the Central Politburo reported that COVID-19 is still undergoing constant changes across the globe. Furthermore, it was noted that external environmental challenges are becoming more complex and severe. Domestic economic recovery was deemed unstable and unbalanced by them.
China Central Politburo emphasized the necessity of a new socio-economic ideology and deeper structural reforms for the economic projects for the second half of the year. In order to promote high quality, new development models were also accelerated.
It was agreed that macroeconomic policies should endeavor to maintain continuity, stability, and sustainability. Furthermore, it was requested that the status of investments under the budget and the issuance of bonds by local governments be investigated.
The Politburo said that liquidity should be maintained with a moderate monetary policy and that SMEs and struggling enterprises should be helped to continue their recovery.
As well as addressing the issue of mass product supply and price stability, the committee urged the country to explore its potential domestic market, stimulate the development of new energy vehicles, accelerate the major construction projects under the 14th Five-Year Plan, and boost enterprise investment in technological innovation.