China’s Communist party leaders have said “vigorous” efforts to boost domestic consumption are the country’s top economic priority at a keenly awaited annual meeting in Beijing.
President Xi Jinping and senior party leaders also pledged to increase China’s fiscal deficit and issue more “ultra-long” special bonds at the two-day Central Economic Work Conference, which is used to set the country’s economic policy path for the coming year.
A report on the conclusions of the meeting that was issued through state media said China would lower interest rates and reduce at “an appropriate time” the deposits that banks must hold as reserves.
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