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Friday, May 17, 2019 - 01:51

MNI POLICY: China Growth The Focus In Dispute Escalation: NDRC


By Iris Ouyang

BEIJING (MNI) - China's macro policies to boost the economy will help maintain stability through any escalation of the trade dispute with the U.S., the country's economic planning body said Friday.

Here are the highlights from Friday's National Development of Reform Commission press briefing in Beijing:

-The key for China through any trade dispute is to focus on its own business, Meng Wei, NDRC spokesperson said, with measures to ensure stable growth

-China will continue with current macro, fiscal and monetary policies to help boost the domestic economy, with added focus on consumption in rural areas, the NDRC said.

-The commission underlined that any fallout from the trade dispute was manageable as China's economy is resilient.

-The government will implement polices to help firms maintain jobs and enhance training, especially through a plan to increase student recruitment.

-Higher pork prices are due to the African swine fever and cyclical industry factors, the NDRC said, stressing it won't have a major impact on inflation level.

-The State Council has approved a new list of state-owned enterprises which would be required to conduct mixed-ownership reform. The commission said 160 SOEs are included in the new list.

-Meng addressed fresh concerns over steel production overcapacity, stressing the government will implement policies to ensure all targets on cutting steel excess production were hit. She attributed rising steel production to increased domestic demand from the property, rail construction, and home appliances sectors.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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