China's Politburo calls for consumption boost to drive 2024 growth

SHANGHAI -- China needs to shift its economic policy implementation toward boosting consumption, the country's top leadership said on Tuesday in a closely watched meeting, amid rising expectations for more stimulus measures to spur sluggish growth.

The ruling Communist Party's Political Bureau held its monthly meeting to assess the state of the economy and dispense policy guidance for the latter half of the year, according to state news agency Xinhua. The Politburo, led by President Xi Jinping, said that while growth was stable, adverse external conditions had increased while domestic demand was "insufficient."