chinas state council the nations cabinet said friday it will step up policy support for the countrys sputtering economic recovery that has been weighed on by cooling domestic and global demand in a meeting chaired by chinese premier li qiang the state council said the slowdown in global trade and investment hindered chinas economic recovery and that more forceful measures must be taken to enhance its growth momentum according to the state broadcaster the meeting examined a number of measures in four areas which aim at expanding chinas effective demand optimizing the real economy increasing the intensity of macropolicy regulation and preventing risks from several key areas the state council pledged that the authorities will implement the policies in a timely manner without providing further details beijing has recently shifted its policy stance to progrowth mode after the worlds secondlargest economy reported weakening economic data chinas central bank unexpectedly cut two key policy rates this week in a bid to cut financing costs for businesses and households economists have said more supporting measures are needed to boost domestic demand and confidence the cabinet meeting also said friday to step up financing support for the nations tech companies while approving a new policy to regulate the countrys privateequity sector