China Vows to Ready Emergency Plans, Signals Calm Amid Trade War

China said it will “fully prepare” emergency plans to ward against increasing external shocks, taking a patient approach in defending growth as a deepening trade war with Donald Trump piles pressure on the world’s No. 2 economy.

The decision-making Politburo led by President Xi Jinping also pledged Friday to set up new monetary tools and policy financing instruments to boost technology, consumption and trade, according to a readout published on the government’s website. Such steps could allow for faster deployment of low-cost credit for investment in targeted areas.

“We must keep improving the policy toolbox to ...