Top News丨Robust policy steps urged to spur economy

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C hina should further bolster its economy by stepping up fiscal and monetary policy support, including raising the budget deficit and effecting more cuts in the reserve requirement ratio and interest rates, said economists and analysts. They said the country also needs to strengthen the countercyclical adjustment and roll out new incremental policies soon to address the pressing challenge of the still-weak domestic demand. Their comments came as the latest data from the National Bureau of Statistics showed a mixed economic picture, with factory activity shrinking for the fourth consecutive month in August. ▲  The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning, Guangxi Zhuang autonomous region, on April 16, 2024. Photo/CFP China's official purchasing managers index for the manufacturing sector dropped from 49.4 in July to 49.1 in August, staying below the 50-point mark that separates growth from contraction. The cou ………………………………