China Top Leaders Warn on Financial Risks as Rebound Falters

China’s top leaders said the country must guard against financial risks and boost consumption amid signs that the expansion in the world’s second-biggest economy is faltering.

“China needs to cement its domestic economic growth momentum and guard against potential risks in financial sectors,” the Politburo Standing Committee said in a statement late yesterday published by the official Xinhua News Agency. Macro-economic policies should be stabilized and micro controls in some sectors should be loosened, it said after what Xinhua said was a “special session” on the economy.