China’s Xi says economy had good start to 2016 but faces pressure: Media
China’s economy has had a good start to 2016 and continues to operate within a reasonable range, but still faces relatively large downward pressure, President Xi said on Friday according to state radio.
Xi reiterated that the country will maintain a proactive fiscal policy and a prudent monetary policy, according to the broadcaster. China will strive to have a healthy stock market, and increase regulation to protect investors, Xi was reported to have said.
China will have a flexible, two-way foreign exchange policy and keep the yuan basically stable, he added, while the government will also introduce urbanization reform which will help absorb housing inventories. Read more