China's Politburo comments after a work meeting to discuss its economic goals and plans for the second half of the year
- Monetary policy should be more flexible, appropriate
- To keep reasonable growth in money supply and aggregate financing
- Chinese economy still faces relatively big uncertainties
- Current economic situation is still complex and severe
The work meeting earlier was chaired by China president Xi Jinping and it looks like they will continue to keep their current policies into 2H 2020 at least, to try and bolster the economy and get back to pre-virus levels.
As mentioned before, China may talk up the recovery and how the economy is braving past the virus crisis but actions speak louder than words.
More easy policy to spur credit growth is still being observed and they are still doing what they can to prop up the stock market. That tells us more than words can say.
