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China announces proactive fiscal stimulus and looser monetary policy for 2024
China's leaders have committed to implementing "more proactive" fiscal stimulus and "moderately" looser monetary policy next year to enhance domestic consumption, as outlined in a recent Politburo meeting. The government aims to stabilize property and stock markets while preparing for the upcoming Central Economic Work Conference in December, where economic targets for 2025 will be discussed. Despite challenges such as a housing downturn and low consumer inflation, President Xi Jinping emphasized the need for confidence and a favorable external environment to achieve economic goals.
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