China will act decisively in ramping up support for economy and roll out more policy steps but will refrain from issuing excessive money, state media quoted the cabinet as saying on Wednesday.

China will guide financial institutions to issue more long-term loans and step up support for private investment, the cabinet was quoted as saying after a regular meeting.

The cabinet also reaffirmed its support for the healthy development of the platform economy, state media said. (Reporting by Kevin Yao and Beijing newsroom; Editing by Chizu Nomiyama)


Reuters