China must step up antitrust efforts and avoid disorderly expansion of capital: Xi Jinping


Chinese President, Xi Jinpingsaid the country should strengthen its antitrust efforts and avoid a disorderly expansion of capital, the official Xinhua news agency reported on Saturday.

Xi Jinping called for a healthy development of the capital markets of Chinapreventing financial risks and focusing on addressing the risks of non-performing assets and bubbles, Xinhua said.

“Capital is an important force for promoting social productive forces,” Xi said while presiding over a study session after a Politburo meeting. “And it has a lucrative nature.”

If it is not regulated… it will bring immeasurable damage to economic and social development.”

Xi was quoted as saying that China it would crack down on corrupt behavior related to the disorderly expansion of capital and platform monopolies, and strengthen supervisions.

The authorities will improve economic openness, attracting more international capital to invest in China and encouraging domestic companies to go abroad, Xinhua said.

The Politburothe top decision-making body of the ruling Communist Party, vowed to step up support for the Covid-19-affected economy and expand economic policy adjustments.

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