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2022-07-28 16:15:02 By : Ms. Lucy Cheng

Chinese leaders promised on Thursday, 28, to pursue the best possible results for the country's economy, shaken by strict lockdowns resulting from covid-19 and a crisis in the real estate market.At its quarterly meeting, the Chinese Communist Party's Politburo said it would keep the economy functioning within "a reasonable range" in the second half of the year as it pushes forward policies to expand domestic demand.The remark came after China saw economic growth of 2.5% in the first half compared to the same period last year.The figure puts the annual growth target of about 5.5% increasingly out of reach.At the meeting, the Politburo urged China's economically strong provinces to assume their leadership and meet economic and social goals.The Chinese party's top body did not specify whether the government was still bound by the goal of national economic growth.The Politburo also said the government's fiscal and monetary policies should compensate for weak social demand, while the country's banks may increase lending support to companies, many of which have been forced to suspend production as authorities mobilized to quell Covid-19 outbreaks.It also reiterated that the government will maintain its dynamic "zero-covid policy" and "strictly" control any outbreaks.Chinese leaders also said they would guarantee the delivery of houses under construction, while repeating the old slogan that “houses are for living, not for speculation”.The Politburo also said it would address the risks affecting the country's small rural banks and normalize the regulation of the economy in this regard.Source: Dow Jones Newswires.Copyright ©2022 - Três Editorial Ltda.All rights reserved.Note of clarification: Três Comércio de Publicações Ltda., the company responsible for marketing Três Editorial magazines, informs its consumers that it does not charge and does not offer the cancellation of the subscription contract upon payment of any amount, nor does it authorize third parties to do so.The company is not responsible for such messages and charges.