China's top leaders have pledged to loosen monetary policy and provide more support for the slowing economy.

China’s powerful Politburo has endorsed the ruling Communist Party's strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.”.

Asian shares are higher even though the latest data showed China's economy is weaker than expected.

Shares are mixed in Asia after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.

Asian shares are mixed after China reported a big jump in factory gate prices at a time when inflation is a top investor concern.

Chinas shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. (AP Photo/Andy Wong)BEIJING – China’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. China is the only major economy that is expected to grow this year while activity in the United States, Europe and Japan shrinks. The recovery is “broadening out and becoming less reliant” on government stimulus, Julian Evans-Pritchard of Capital Economics said in a report. “China’s recovery in private consumption is gathering momentum,” said Stephen Innes of AxiCorp in a report.

(CNN) - China took more action Friday to boost its economy, reducing the amount of cash banks have to keep in reserve. "By releasing 900 billion yuan, the cuts will effectively increase the sources of funds for financial institutions to support the economy. Nevertheless, analysts expect increasing economic pressure will prompt the central bank to take it even lower. Last month, the central bank launched a long-awaited reform to the way it manages money to support growth and employment. The central bank is gradually replacing its existing fixed benchmark lending rate, with a new Loan Prime Rate.

HONG KONG - Asian markets were mixed Monday as new US-China tariffs took effect and several countries reported economic data for the last month. Newly released economic data also suggested that long-term concerns remain an issue. factory activity from Japan pointed to a continued downturn in the country's manufacturing sector. South Korea's manufacturing activity contracted in August at a slower pace than it did in July, according to data released Monday. than it did in July, according to data released Monday.