China to step up macroeconomic policy adjustments and focus on demand, Politburo says

China will step up macroeconomic policy adjustments and focus on expanding domestic demand, the Politburo, a top decision-making body of the ruling Communist Party, said on Monday, the state-run Xinhua news agency reported. The economy faces new challenges and the post-pandemic recovery will be tortuous, Xinhua reported following a Politburo meeting chaired by President Xi Jinping. "Currently, China's economy is facing new difficulties and challenges, which mainly arise from insufficient domestic demand, difficulties in the operation of some enterprises, risks and hidden dangers in key areas, as well as a grim and complex external environment," Xinhua cited the Politburo as…