Guangzhou (JLC), December 9, 2024 – The Political Bureau of the Communist Party of China (CPC) Central Committee on Monday held a meeting to analyze and study the economic work for 2025, state-run news agency Xinhua reported on December 9.
The meeting urged the implementation of a more proactive fiscal policy and a moderately loose monetary policy next year, Xinhua said.
A more proactive fiscal policy could include measures such as more bond issuance, or higher government spending by raising the GDP-deficit ratio.
A moderately loose monetary policy could mean interest rate cuts or “Triple R” (Reserve Requirement Ratio) cuts, among others measures.
In addition, the meeting said China should vigorously boost consumption, improve the investment efficiency, and expand domestic demand on all fronts.
It is necessary to enrich and improve the policy toolkit, strengthen unconventional counter-cyclical adjustments, intensify the coordination of various policies, and make the macro regulation more forward-looking, targeted and effective, the meeting noted.
In terms of coping with international challenges, China should keep the foreign trade and foreign investment steady, and take precaution measures against risks in key areas and risks from “external impact”.
China should also keep the housing market and stock market steady, the meeting mentioned.
