China’s monetary policy to be more flexible and targeted: politburo

BEIJING (Reuters) – China’s monetary policy should be more flexible and targeted, and its fiscal policy more proactive, as its economy still faces relatively big uncertainties, the country’s top decision body said on Thursday in a quarterly meeting.

The Politburo, chaired by president Xi Jinping, said the government must ensure reasonable growth of money supply and social financing with significantly lower costs, and that the next round of new financing should mainly flow to manufacturing and to small and micro firms.

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