BEIJINGHONG KONG, Sept 26 Reuters Chinese leaders pledged on Thursday to deploy necessary fiscal spending to meet this year39;s economic growth target of roughly 5, acknowledging new problems and raising market expectations for fresh stimulus on top of measures announced this week.
The remarks, which included guidance to the government to support household consumption and stabilise the troubled real estate market, came in an official readout of a monthly meeting of top Communist Party officials, the Politburo. The September meeting is not usually a forum for macroeconomic discussions, which suggests growing anxiety over slowing growth momentum.
The world39;s secondlargest economy faces strong deflationary pressures due to a sharp property market downturn and frail consumer confidence, which has exposed its overreliance on exports in an increasingly tense global trade environment.
A wide range of economic data in recent months has missed forecasts, raising concerns among economists that the growth target was at risk and that a longerterm structural slowdown could be in play.
New situations and problems demand a sense of responsibility and urgency, state media reported, citing the Politburo meeting.
China39;s central bank on Tuesday unveiled its most aggressive monetary easing since the pandemic, flagging cuts to a broad range of interest rates and a 1 trillion yuan 140 billion liquidity injection into the financial system, among other steps.
Beijing is considering…