China's Xi - financial sector must serve the real economy

FILE PHOTO: Chinese President Xi Jinping speaks during an event to commemorate the 40th anniversary of the "Message to Compatriots in Taiwan" at the Great Hall of the People in Beijing, China January 2, 2019. REUTERS/Mark Schiefelbein/Pool/File Photo - Copyright POOL(Reuters)

By Reuters

Published on 23/02/2019 - 08:34•Updated 20/04/2024 - 03:05

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BEIJING (Reuters) - China's financial sector must serve the real economy, President Xi Jinping told a study session for senior Communist Party officials, state news agency Xinhua said on Saturday.

The government must strengthen the counter-cyclical adjustment role of fiscal and monetary policies, and must resolve the problem that the cost of illegal activities in capital markets is too low, said Xi, who was speaking on Friday, Xinhua added.