From the South China Morning Post via MSN, September 26:
Gathering comes after financial authorities rolled out wide-reaching stimulus measures this week
China has vowed to save the private economy, stabilise its property sector from further slumping and ensure necessary fiscal expenditures, according to the readout from a Politburo meeting on Thursday.
"It is necessary to help enterprises tide over difficulties," said the readout, which was released just after 1pm.
The top decision-making meeting, which was chaired by President Xi Jinping, came after financial authorities rolled out a raft of stimulus measures on Tuesday.
"It is necessary to look at the current economic situation comprehensively, objectively and calmly," the readout said. "Face up to difficulties, strengthen confidence, and effectively enhance the sense of responsibility and urgency to do a good job in economic work."
At the meeting, Xi also warned against inertia among cadres in striving for economic growth. "The vast number of party members and cadres must have the courage to take responsibility and dare to innovate," the readout said.
Holding a Politburo meeting to discuss economic affairs in September is a rare move for the authorities....
"The message is strong and intends to rekindle confidence and shore up expectations," Li Xuenan, a finance professor at Cheung Kong Graduate Business School in Beijing, said after the meeting. "Beijing is anxious to prevent downward risks from becoming self-fulfilling."
....MUCH MORE
Earlier:
"Hong Kong stocks lead global surge on reports of more China stimulus measures"
