China adopts loose monetary policy to support slowing economy

newsweek.com

China is shifting its economic strategy by adopting a "moderately loose" monetary policy to support its slowing economy. This change, announced by Premier Li Qiang, marks a departure from a 14-year period of "prudent" monetary policy. The new approach aims to encourage spending and stabilize the economy amid challenges like weak consumer demand and a struggling property market. The Hang Seng Index rose 2.8 percent following the announcement, reflecting market optimism. Leaders also criticized high tariffs imposed by some countries, suggesting they hinder global growth. The government plans to combine increased spending with easier credit to stimulate consumption as it prepares for an annual economic planning session.


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