China’s Politburo: Will keep monetary policy neither too tight nor too loose

Reuters reports the latest statement from China’s Communist Party Politburo, with the key headlines found below.

To maintain prudent monetary policy.

Will keep monetary policy neither too tight nor too loose.

Will implement proactive fiscal policy.

Will keep liquidity reasonably ample.

Will continue to cut fees and taxes

Will ensure homes are for living and not for speculation.

To effectively cope with trade frictions.

Will not use real estate as short-term stimulus.

To guide financial institutions to increase medium to long-term financing to manufacturing sector, private firms.

To make fiscal policy more effective.

China's economy faces increasing downward pressure.

China's economic operations remained within reasonable range in H1.