THE government will step up policy support to stabilize the economy, Xinhua quoted the Politburo as saying Friday.

China will implement a strategy to expand domestic demand, and promote steady growth in foreign trade and foreign investment, Xinhua reported, citing a Politburo meeting.

“We will step up the implementation of macro policies to stabilize the overall economy,” the Xinhua report said.

China will strive to achieve its economic and social targets for this year, Xinhua said.

China’s economy has rebounded strongly from a pandemic-induced slump but still faces challenges posed by the uncertainties in the global economy.

The Politburo discussed the 2022 government work report that will be submitted to the National People’s Congress for deliberation, Xinhua said.

The annual parliament meeting will open March 5, when Premier Li Keqiang will deliver the work report.

The government aims to fend off systemic risks and safeguard financial stability, seeking to prevent risks in the financial sector, Xinhua said.

The country’s regulators have uncovered a number of weaknesses and irregulatirites in the financial sector in a two-month investigation, Xinhua said in another report Thursday.

(SD-Agencies)