China’s Politburo sets out economic priorities for second half of 2024

China’s Politburo, the country’s top leadership, held a meeting on Tuesday to study the current economic situation, laying out economic priorities for the second half of 2024, the country’s state media reported.

Key takeaways

Unfavorable impacts from changes in external environment are increasing.

Domestic effective demand remains insufficient.

There are still many risks and hidden dangers in key areas.

These are issues in development and transformation.

Macroeconomic policies should continue to be more vigorous and more forceful.

It is necessary to strengthen counter-cyclical adjustments, implement a proactive ficscal policy and prudent monetary policy.