China concludes planning meeting with commitment to boost economy but lacks stimulus details
Chinese leaders concluded a two-day planning meeting in Beijing, promising a more proactive approach to boost the economy. However, they did not provide specific details on new stimulus measures. The meeting emphasized a shift to a "moderately loose" monetary policy, moving away from a cautious stance. Leaders plan to raise the fiscal deficit and issue long-term government bonds to finance spending. They aim to stabilize the struggling property market and enhance consumer spending by addressing job market weaknesses. Recent policies have encouraged spending, with notable growth in auto sales reported in November.