Chinese policymakers are expected to intensify policy support for economic stability

Chinese policymakers are expected to intensify policy support for economic stability in response to downward pressures on growth next year, analysts said on Tuesday.

They expected policymakers to take more steps to shore up growth next year, including increasing countercyclical adjustments and enhancing cross-cyclical adjustments.

Their comments came after a meeting of the Political Bureau of the Communist Party of China Central Committee on Monday set the tone for the nation's economic policies next year, highlighting stability as the top priority. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.

The top leadership said the nation will strive to stabilize the fundamentals of its macro economy next year, with steps to make its fiscal policies more efficient, targeted and sustainable, and China will continue to implement a proactive fiscal policy and a prudent monetary policy.