China promises economic stability as G-20 meet looms

Beijing

CHINESE policymakers emerged from the Chinese New Year hiatus with one collective message for nervous investors at home and abroad: Beijing will put a floor under the slowing economy, keep its currency steady, and ensure employment remains stable even as bloated industries undergo restructuring.

The string of assurances comes ahead of two high-profile political events for China: a meeting of Group of 20 (G-20) finance chiefs in Shanghai this month and next month's annual gathering of China's legislature - where the next five-year economic development plan will be finalised.