China’s Politburo: China to continue deleveraging at measured pace

The Standing Committee of the Central Political Bureau of the Communist Party of China, known as the Politburo, was out on the wires in the last hour, saying that China will continue to deleverage at a measured pace and aims to curb home price rise.

Key headlines:

   “¢   China’s Economy steady but faces changes.
   “¢   Will keep economic growth within a reasonable range.
   “¢   Will maintain prudent monetary policy, protective fiscal policy.
   “¢   Will make economic policies more forward-looking flexible and effective.
   “¢   Will keep liquidity reasonably ample.
   “¢   Will stabilize employment, financial sector, foreign trade and investment.
   “¢   Will protect the legitimate rights of foreign-funded firms in China.
   “¢   Will resolutely curb rises in property prices.
   “¢   Will quicken the establishment of a long-term mechanism for healthy development in the property sector.
   “¢   Will step up infrastructure investment in targeted areas.
   “¢   Will better balance financial risk prevention and support for the real economy.
   “¢   Will maintain deleveraging efforts but pay attention to intensity and pace.