China’s top leaders are planning to convene a high-level meeting to discuss measures aimed at boosting the economy and stabilizing capital markets amid escalating trade tensions with the U.S. According to sources familiar with the matter, the meeting is expected to take place soon and will involve senior officials from the State Council, government bodies, and regulatory agencies. The policymakers are anticipated to focus on strategies to enhance domestic consumption and support the capital markets, including potential discussions on export tax rebates. This gathering marks the first publicly known high-level meeting since U.S. President Donald Trump announced reciprocal tariffs on China last week. The Chinese government has vowed to counteract these tariffs but is reportedly feeling pressured by the U.S. trade actions. Attendees are expected to include representatives from the People’s Bank of China, the Ministry of Finance, the Ministry of Commerce, and other regulatory bodies. Some economic stimulus measures could be implemented in the coming weeks. Chinese state media may report part of the meeting’s agenda as authorities aim to stabilize the economy and restore confidence. The ongoing trade war between China and the U.S. coincides with challenges in the Chinese economy, such as a prolonged property crisis and high local government debt levels, which have affected both business and consumer confidence. Chinese Premier Li Qiang stated that China’s policies this year account for various uncertainties and that the country is capable of mitigating adverse external influences. Chinese stocks showed some resilience as state pledges to support the local market and interest in domestic tech firms offset the impact of the latest tariff developments.
— new from Reuters
