China's Politburo says that economic foundation is stable ...Middle East

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Chinas Politburo says that economic foundation is stable
To hold 4th plenum in OctoberCalls to implement more proactive fiscal policyWill improve policy flexibility and foreseeabilityTo keep policy continuity and stability in order to expand upwards momentum of the economyWill make efforts in stabilising jobs, businesses, markets and expectationsNecessary to effectively release potential of domestic demandTo implement special action to boost consumptionMust stabilise fundamentals of trade and foreign investmentTo resolve local government debt risksWill promote governance of production capacity in key industries

As is typically the case, the remarks here are all high-level commentary more than any detailed measures. All in all, it reaffirms their existing policy path for the most part but more importantly it also reaffirms their resolve to try and revive domestic demand especially. Other than that, the continued focus on consumption and mention of addressing overcapacity in some emerging industries will help to ease concerns among investors at least.

This article was written by Justin Low at investinglive.com.

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