Economy
09:52, 05-Mar-2019
China continues the battle against potential financial risks in 2019
Updated
12:20, 05-Mar-2019
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04:06
China will balance maintaining stable growth and guarding against risks to sustain healthy economic development in 2019, according to the government work report at the annual legislative session on Tuesday.
Battling against potential risks is among China's "three critical battles" that was kickstarted in 2018. Major risks were forestalled and defused, leading to a generally stable financial sector.
The country will take firm, controllable and systemic action to defuse risks that built up over the years and pursue development.
The country will continue structural deleveraging, forestalling abnormal financial market fluctuations, prudently dealing with local government debt risk and guarding against and controlling externally-generated risks.
In applying downward pressure on the economy, the country will adopt policies and measures to support stable growth. Economic indicators will remain in the appropriate range, according to the work report.
The country also vows not to adopt short-term strong stimulus policies as they would undermine long-term development or generate new risks.