BEIJING, April 30 (Reuters) - China's economic recovery remains uneven and its foundation is not solid, a top decision-making body of the ruling Communist Party said on Friday, and it pledged to make the recovery more balanced.
The country will promote a rapid recovery in domestic demand and encourage manufacturing and private investment to recover as quickly as possible too, state news agency Xinhua reported, citing a Politburo meeting chaired by President Xi Jinping.
China's economy recorded blistering growth of 18.3% in the first quarter after last year's deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms.
"The current economic recovery is uneven and the foundation is not solid," Xinhua quoted the Politburo as saying.
"It is necessary to accurately implement macro policies, maintain the continuity, stability and sustainability of macro policies, and not to make a sudden turn."
China will keep liquidity reasonably ample and step up support for the real economy, key sectors and any weak links in the economy, it said.
The government should focus more on deepening supply-side reforms to help sustain economic growth over the next five years, it said.
China will aim to keep its economic operations in a reasonable range while keeping the yuan exchange rate basically stable, those at the meeting said.
It will boost the supply of rental housing and public affordable housing, and prevent speculation in various property markets including school district homes, they said, while reiterating the principle of "homes are for living in, not for speculation". (Reporting by Lusha Zhang and Kevin Yao; editing by John Stonestreet and Hugh Lawson)
