Expanding demand crucial to continuation of current recovery, Chinese Politburo says

China's Politburo said that expanding demand was crucial to sustaining the current recovery.

According to Xinhua, the Political Bureau of the Central Committee of the Communist Party of China, also pledged to rein in risks from local government debt, Dow Jones Newswires reported.

Other commitments included the stabilisation of foreign investment, as well as the delivery of unfinished homes and the development of a health property market.

The politburo added that it would pursue a proactive fiscal policy aimed at improving efficiency, while targeting a prudent monetary policy.