China's Politburo says economic 'triple pressures' eased

Xi's top decision-making body targets boosting demand, but no sign of fiscal stimulus

20230501 Caixin

Experts expect that Beijing will rely on income growth to boost consumption, as policymakers didn't mention any new fiscal stimulus measures at the April 28 Politburo meeting.

CHENG SIWEI and WANG XINTONG, Caixin

China's top leadership said the country's better-than-expected economic growth so far this year is "mainly restorative" and pointed to expanding demand as the key to a sustained rebound.

Since the start of the year, the triple pressures on the economy -- shrinking demand, supply shocks and weakening expectations -- have eased, the Politburo, the Communist Party's top decision-making body, said at a meeting chaired by President Xi Jinping on Friday.

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