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China's Politburo pledges action to keep economy moving

Leadership recognizes 'new risks and increasing downward pressure'

Workers are seen at a section of the Nanchang-Ganzhou high-speed railway under construction in Jiangxi Province, China.   © Reuters

BEIJING -- China's top decision-making body on Tuesday vowed to employ active fiscal spending and balanced monetary policy in the second half to beat back the downward pressure facing the economy as the trade war with the U.S. looks likely to drag on.

The Communist Party's Politburo, which meets every three months to fine-tune macroeconomic policy, acknowledged that the economy "faces new risks and increasing downward pressure," according to a statement released after the meeting.

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